Trump announces Musk, Ramaswamy will lead newly-created Department of Government Efficiency

Wednesday at 01:08 AM

Musk took part in call between Trump, Zelenskyy

Report: Musk took part in call between Trump, Zelenskyy

03:04

President-elect Donald Trump announced Tuesday that billionaire Elon Musk and businessman Vivek Ramaswamy will head up a new agency known as the Department of Government Efficiency.

Trump in a statement said the two “will pave the way for my Administration to dismantle Government Bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies – Essential to the ‘Save America’ Movement.”

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L-R: File photos of entrepreneur and former Republican presidential hopeful Vivek Ramaswamy and Tesla, SpaceX and X CEO Elon Musk.

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In his own statement, Musk said the new agency “will send shockwaves through the system, and anyone involved in Government waste, which is a lot of people!”

Musk was a major part of Trump’s reelection campaign effort, while Ramaswamy ran against Trump in the Republican primary before endorsing him.

The department’s acronym, DOGE, is also a dog meme that inspired Dogecoin, a cryptocurrency that was created as a joke and is credited with being the first meme coin.

This is a developing story and will be updated.

Faris Tanyos

Faris Tanyos is a news editor for CBSNews.com, where he writes and edits stories and tracks breaking news. He previously worked as a digital news producer at several local news stations up and down the West Coast.

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