President-Elect Donald Trump has named billionaires Elon Musk, one of his biggest campaign supporters, and Vivek Ramaswamy, his one-time primary opponent, to lead a new “Department of Government Efficiency"—giving Musk a role in his administration after Trump and the world’s richest person spoke on the campaign trail about working together.

Donald Trump has tasked Elon Musk with setting up a panel to streamline the U.S. government. Although the president-elect has said little about how this group would operate, Musk has previously set an ambitious goal of cutting $2 trillion of spending.

Elon Musk, the world’s richest person, will be taking on an official role to try to help President-elect Donald Trump make government more efficient. It will add yet another responsibility to an ever-growing to-do list for the increasingly distracted CEO and business leader.

President-elect Donald Trump announced Tuesday that Elon Musk and Vivek Ramaswamy will lead his administration's new Department of Government Efficiency, or DOGE, to end "government waste" and "slash excess regulations.

U.S. President-elect Donald Trump on Tuesday named Elon Musk and former Republican presidential candidate Vivek Ramaswamy to lead a newly created Department of Government Efficiency, rewarding two of Trump's well known supporters from the private sector.

President-elect Donald Trump on Tuesday night announced Elon Musk will help lead an effort to cut government regulations and slash spending, making good on a campaign pledge to put the Texas billionaire who spent $119 million to get him elected in charge of the so-called “Department of Government Efficiency.