Billionaire Elon Musk and entrepreneur Vivek Ramaswamy will lead a new Department of Government Efficiency tasked to "dismantle Government Bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies,” U.S. President-elect Donald Trump announced Tuesday.
On the campaign trail, Trump said the government efficiency effort would develop a plan to eliminate "fraud and improper payments,” conducting a "complete financial and performance audit” of the federal government. On Tuesday, Trump said the panel would partner with the White House’s Office of Management and Budget and said their work will conclude no later than July 4, 2026 — the nation’s 250th anniversary.
The structure may allow Musk to avoid resigning from his companies — including Tesla, the world’s largest electric vehicle manufacturer, and SpaceX, which dominates the worldwide rocket launch market — and navigate federal conflict-of-interest rules that could have mandated divestiture.
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