Trump Appoints Elon Musk and Vivek Ramaswamy to Lead New US Government Efficiency Initiative

In a bold move to reshape federal operations, U.S. President-elect Donald Trump announced on Tuesday that Elon Musk and former Republican presidential candidate Vivek Ramaswamy will co-lead a new Department of Government Efficiency. Tasked with transforming government processes, the department aims to cut bureaucratic red tape, streamline federal agencies, and reduce wasteful spending, operating largely outside traditional government structures.

Trump emphasized that the new department will “dismantle government bureaucracy, slash excess regulations, and create an entrepreneurial approach to government.” This initiative aligns with long-standing Republican goals of reducing federal oversight and enhancing private sector involvement. By functioning as an advisory entity, Musk and Ramaswamy’s roles bypass Senate confirmation, allowing Musk to retain leadership over Tesla, X (formerly Twitter), and SpaceX.

Working closely with the White House and the Office of Management & Budget, the Department of Government Efficiency is expected to develop reforms to save taxpayer dollars, with plans to complete its mission by July 4, 2026—the 250th anniversary of the Declaration of Independence.

Musk, currently the world’s richest individual according to Forbes, is anticipated to bring substantial influence to the role. At a recent rally in Madison Square Garden, Musk suggested that the federal budget could be trimmed by “at least” $2 trillion, referencing the 2024 Congressional Budget Office’s projection of $1.9 trillion in discretionary spending.

In a light-hearted twist, the department’s acronym—DOGE—mirrors the name of the cryptocurrency Dogecoin, which Musk frequently endorses. Musk hinted at an interactive, public-facing approach, promising to post department actions online for “maximum transparency” and even inviting public tips on wasteful spending. “We’ll also have a leaderboard for the most outrageously dumb spending,” Musk announced on X, noting that this transparency will make government accountability both “tragic and entertaining.”

Ramaswamy, who supported Trump following his own exit from the 2024 presidential race, is known for his critique of corporate social agendas, outlined in his bestselling book “Woke, Inc.” His involvement in this initiative represents a shift away from a potential Senate appointment in Ohio, a position Governor Mike DeWine will fill as JD Vance prepares to serve as Vice President under Trump.

The announcement has generated mixed responses across Wall Street, with Tesla’s shares experiencing slight dips, though they remain up approximately 30% since Election Day. Dogecoin has also seen a surge in value, driven by market expectations of favorable regulatory conditions for cryptocurrencies under Trump’s administration.

This efficiency push, likened by Trump to the historic Manhattan Project, signals an ambitious attempt to reshape the federal government’s role while leveraging private sector expertise to deliver results that could resonate with taxpayers across the country.