WASHINGTON: United States President-elect Donald Trump has announced the creation of a new “Department of Government Efficiency,” naming Elon Musk as co-leader.
Elon Musk, who donated millions of dollars to help Trump get re-elected as U.S. president, will serve as co-leader alongside former Republican presidential candidate Vivek Ramaswamy.
Trump stated that Musk and Ramaswamy “will pave the way for my administration to dismantle government bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure federal agencies.”
The new department aims to overhaul the federal government by reducing bureaucracy, eliminating unnecessary regulations, cutting wasteful expenditures, and restructuring federal agencies. Trump described the initiative as a way to bring “outside-the-box” thinking into government.
The roles of Musk and Ramaswamy will be informal, not requiring Senate confirmation, allowing Musk to continue leading Tesla, SpaceX, and X (formerly Twitter), while still advising the White House on government reform.
Trump emphasised that the new department will work closely with the White House and the Office of Management and Budget to drive large-scale structural reforms, aiming to bring an entrepreneurial approach to the federal government.
Reacting to the Trump announcement, Musk said on his official account on X saying “All actions of the Department of Government Efficiency will be posted online for maximum transparency.” He invited the public to provide tips. “We will also have a leaderboard for the most insanely dumb spending of your tax dollars. This will be both extremely tragic and extremely entertaining,” he added.
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Political analysts have speculated that Musk’s involvement in this reform effort could lead to more favourable government policies for his companies.
“It’s clear Musk will have a massive role in the Trump administration,” said Daniel Ives, an equity analyst at Wedbush Securities, in a recent research note.
