Election 2024: Biden to address nation, Trump prepares for 2nd term

Elon Musk and Robert Kennedy, Jr. spent much of the day at Mar-a-Lago where President-elect Donald Trump was hunkered down and making calls to lawmakers and allies following his election victory.

Both Musk and Kennedy were involved in meetings with top transition officials at Mar-a-Lago as Trump prepares to build out his Cabinet and top administration posts, sources told ABC News.

Musk left West Palm Beach Wednesday.

The visit comes after Musk poured millions into his America PAC, helping to boost Trump to victory -- and as he's promised to help make significant cuts to the federal budget as part of a role tasked with government efficiency.

Meanwhile Kennedy, who Trump has repeatedly vowed to put in a prominent role in his administration, said in an interview earlier Wednesday he would consider gutting the Food and Drug Administration's nutrition department.

Former Speaker Nancy Pelosi, D-CA, thanked Vice President Kamala Harris and Gov. Tim Walz for their campaign in a statement Wednesday evening, saying they "will continue to be magnificent forces for the good in our country."

"We all pray for America's success under the next Administration. The peaceful transfer of power is the cornerstone of our democracy. After every election, we all have a responsibility to come together and find common ground," Pelosi said.

Pelosi did not mention Donald Trump by name or recognize his victory in the statement.

"House Democrats are united behind Hakeem Jeffries as we vow to continue putting people over politics and fighting for America's working families with liberty and justice for all," she said.

Pelosi attended Howard University earlier in the day to hear Harris deliver her concession speech.

Gov. Tim Walz released a statement about the election results on Wednesday night following Vice President Kamala Harris' concession speech.

He said in a post on X that the outcome was "not what we wanted" and thanked Harris for selecting him as her running mate, in a post on X.

"Campaigning at your side was the honor and privilege of my life," Walz said.

"I am grateful to the millions of Americans who joined our campaign and stood up for our greatest ideals: decency, compassion, and love of our neighbor," Walz continued.

"Now more than ever, we need you to continue fighting for those values and the country we all love," the governor said.

Following the results of the presidential election, President-elect Donald Trump's transition team operation has begun for his second White House term.

"In the days and weeks ahead, President Trump will be selecting personnel to serve our nation under his leadership and enact policies that make the life of Americans affordable, safe, and secure," Linda McMahon and Howard Lutnick, co-chairs of the Trump-Vance transition team said in a statement.

"As he chooses the best people to join his team and best policies to pursue, his transition team will ensure the implementation of President Trump's common sense agenda starting on Day 1," the co-chairs said.