Donald Trump announces Elon Musk will co-lead Department of Government Efficiency

President-elect Donald Trump announced on Tuesday that Elon Musk will co-lead the Department of Government Efficiency, the acronym of which spells out DOGE, Musk’s favorite cryptocurrency. The CEO of Tesla, SpaceX, xAI, Neuralink, and owner of X, will lead the department alongside biotech entrepreneur and former Presidential hopeful, Vivek Ramaswamy, to pave the way for Trump’s administration to “dismantle Government Bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies.”

Notably, DOGE will “provide advice and guidance from outside of Government,” which suggests it will not be an official government agency that requires legislative approvals and funding. Rather, DOGE will partner with the White House and Office of Management & Budget, according to the press release.

The Trump campaign noted that DOGE’s work would conclude no later than July 4th, 2026.

Musk referenced creating a Department of Government Efficiency for the last several months while campaigning for Trump across the country. However, it wasn’t clear what shape DOGE would truly take, or whether Trump would really take Musk up on this offer.

At an October rally in New York, Musk promised to identity “at least $2 trillion in cuts” within federal agencies if Trump wins. Whether Musk and Ramaswamy follow through on that promise is yet to be seen. Musk never clarified which agencies or polices would be receiving those cuts.

Trump and Musk have become quite close in recent months, and their relationship has only accelerated since the two hosted an X Spaces chat together in August. During Trump’s 2024 presidential run, Musk donated over $100 million to a pro-Trump super PAC, dubbed the America PAC, while also holding rallies for Trump in key swing states. Trump promised Musk the position as head of DOGE during a September appearance at the Economic Club of New York.

Subscribe for the industry’s biggest tech news