Trump named tech billionaire Elon Musk and conservative activist Vivek Ramaswamy to head up a new "Department of Government Efficiency," fulfilling a campaign pledge to give Musk sweeping oversight of government spending.

Former Republican presidential candidate Vivek Ramaswamy will co-lead the newly created department that Trump indicated will operate outside the confines of government.

The move comes after Musk became one of Trump's staunchest supporters, and biggest financial backers, during the last stage of his presidential campaign

Elon Musk and Vivek Ramaswamy will lead the Department of Government Efficiency, also known as DOGE, under Donald Trump's administration, Trump said.

President-elect Trump announced that billionaire Elon Musk and former GOP presidential candidate Vivek Ramaswamy will lead the Department of Government Efficiency.

Donald Trump’s election to a second term in the White House was a boon for Elon Musk personally. His companies stand to benefit, too, just not in the ways investors might expect.On the back of Tesla stock’s epic 29% gain this past week,

Elon Musk spent $44 billion to buy Twitter, now known as X, and at least $130 million to help get Donald Trump elected president.

Donald Trump may have won the 2024 presidential election, but Elon Musk may end up being the bigger winner than the soon-to-be 47th President of the United States. Musk bet big on Trump and spent millions to back him.

Tesla CEO Elon Musk is to officially join Trump’s administration as the co-head of the new US Department of Government Efficiency – a second federal department with the goal of making government spending more efficient.