Donald Trump picks Elon Musk, Vivek Ramaswamy to lead DOGE under ‘Save America’ movement

Trump 2.0: Tesla chief Elon Musk and Vivek Ramaswamy to lead the Department of Government Efficiency (DOGE) in a move aimed at dismantling Government Bureaucracy, slashing excess regulations, cutting wasteful expenditures, and restructuring Federal Agencies.

Livemint
Updated13 Nov 2024, 06:27 AM IST
(COMBO) This combination of pictures created on November 12, 2024 shows
SpaceX, Twitter and electric car maker Tesla CEO Elon Musk (L) looks on as he speaks during his visit at the Vivatech technology startups and innovation fair at the Porte de Versailles exhibition center in Paris, on June 16, 2023, former US President and Republican presidential candidate Donald Trump (C) looks on during a campaign rally at PPG Paints Arena in Pittsburgh, Pennsylvania on November 4, 2024, and 
US entrepreneur and former Republican presidential hopeful Vivek Ramaswamy (R) speaks during the second day of the 2024 Republican National Convention at the Fiserv Forum in Milwaukee, Wisconsin, July 16, 2024.. US President-elect Donald Trump on November 12, 2024 said Tesla and SpaceX CEO Elon Musk will lead a so-called Department of Government Efficiency alongside American entrepreneur Vivek Ramaswamy. (Photo by AFP)
(COMBO) This combination of pictures created on November 12, 2024 shows SpaceX, Twitter and electric car maker Tesla CEO Elon Musk (L) looks on as he speaks during his visit at the Vivatech technology startups and innovation fair at the Porte de Versailles exhibition center in Paris, on June 16, 2023, former US President and Republican presidential candidate Donald Trump (C) looks on during a campaign rally at PPG Paints Arena in Pittsburgh, Pennsylvania on November 4, 2024, and US entrepreneur and former Republican presidential hopeful Vivek Ramaswamy (R) speaks during the second day of the 2024 Republican National Convention at the Fiserv Forum in Milwaukee, Wisconsin, July 16, 2024.. US President-elect Donald Trump on November 12, 2024 said Tesla and SpaceX CEO Elon Musk will lead a so-called Department of Government Efficiency alongside American entrepreneur Vivek Ramaswamy. (Photo by AFP)(AFP)

Trump 2.0: US President-elect Donald Trump said that Tesla chief Elon Musk and Vivek Ramaswamy will lead the Department of Government Efficiency (DOGE).

"Together, these two wonderful Americans will pave the way for my Administration to dismantle Government Bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies - Essential to the 'Save America' Movement," Trump said in a statement, AFP reported.

Also Read: Donald Trump reinstates ‘China hawk’ John Ratcliffe as CIA director, taps army veteran Pete Hegseth as defence secretary

Musk and Ramaswamy "will pave the way for my Administration to dismantle Government Bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies," Trump said in a statement.

Trump said their work would conclude by July 4, 2026, adding that a smaller and more efficient government would be a "gift" to the country on the 250th anniversary of the signing of the Declaration of Independence, Reuters reported.

The appointments reward two Trump supporters from the private sector.

Elon Musk, the billionaire entrepreneur behind Tesla, X (formerly Twitter), and SpaceX, alongside Vivek Ramaswamy, the founder of a pharmaceutical company and former Republican presidential candidate, have been vocal supporters of President-elect Donald Trump during the campaign.

Also Read: Elon Musk backs India’s spectrum allocation for satellite broadband: A win for Starlink, a blow to Jio and Airtel?

Musk, known for his groundbreaking work in electric vehicles, social media, and space exploration, has backed Trump, donating millions to his campaign and making public appearances with the former president. Trump had previously stated that he would offer Musk a prominent role in his administration to help drive efforts aimed at improving government efficiency. Ramaswamy, who ran against Trump for the Republican presidential nomination in 2024, dropped out of the race and later endorsed the former president.

Musk and Ramaswamy will work together to streamline federal operations and promote innovations that will make the U.S. government more effective and efficient.

The acronym of the new department,  DOGE, is strikingly similar to the name of the cryptocurrency Dogecoin that Musk promotes.

"This will send shockwaves through the system, and anyone involved in government waste, which is a lot of people!" Musk said, according to Trump's statement, which called the new government initiative “potentially 'The Manhattan Project' of our time,” referring to the US plan to build the atomic bomb that helped end World War Two.

(With inputs from agencies)

Catch all the Business News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.

MoreLess
First Published:13 Nov 2024, 06:27 AM IST
Business NewsNewsUs NewsDonald Trump picks Elon Musk, Vivek Ramaswamy to lead DOGE under ‘Save America’ movement

Get Instant Loan up to ₹10 Lakh!

  • Employment Type

    Most Active Stocks

    Bharat Electronics share price

    298.55
    12:02 PM | 26 NOV 2024
    6.1 (2.09%)

    Adani Power share price

    436.35
    12:02 PM | 26 NOV 2024
    -10.5 (-2.35%)

    Indus Towers share price

    342.50
    12:02 PM | 26 NOV 2024
    5.05 (1.5%)

    Tata Steel share price

    145.00
    12:02 PM | 26 NOV 2024
    1.4 (0.97%)
    More Active Stocks

    Market Snapshot

    • Top Gainers
    • Top Losers
    • 52 Week High

    Praj Industries share price

    815.15
    11:53 AM | 26 NOV 2024
    15.95 (2%)

    Coforge share price

    8,636.75
    11:48 AM | 26 NOV 2024
    26.7 (0.31%)

    Wipro share price

    583.75
    11:53 AM | 26 NOV 2024
    1 (0.17%)

    Laurus Labs share price

    532.15
    11:53 AM | 26 NOV 2024
    0 (0%)
    More from 52 Week High

    Poly Medicure share price

    2,787.10
    11:52 AM | 26 NOV 2024
    -215.6 (-7.18%)

    Adani Green Energy share price

    907.75
    11:53 AM | 26 NOV 2024
    -59.9 (-6.19%)

    Emami share price

    656.75
    11:52 AM | 26 NOV 2024
    -36.3 (-5.24%)

    DCM Shriram share price

    1,167.55
    11:52 AM | 26 NOV 2024
    -59.75 (-4.87%)
    More from Top Losers

    Garden Reach Shipbuilders & Engineers share price

    1,557.00
    11:53 AM | 26 NOV 2024
    115.3 (8%)

    Sonata Software share price

    585.90
    11:53 AM | 26 NOV 2024
    34.35 (6.23%)

    Hitachi Energy India share price

    12,346.85
    11:53 AM | 26 NOV 2024
    682 (5.85%)

    Yes Bank share price

    20.22
    11:53 AM | 26 NOV 2024
    1.01 (5.26%)
    More from Top Gainers

    Recommended For You

      More Recommendations

      Gold Prices

      • 24K
      • 22K
      Bangalore
      78,555.00-1,090.00
      Chennai
      78,561.00-1,090.00
      Delhi
      78,713.00-1,090.00
      Kolkata
      78,565.00-1,090.00

      Fuel Price

      • Petrol
      • Diesel
      Bangalore
      102.92/L0.00
      Chennai
      100.90/L0.00
      Kolkata
      104.95/L0.00
      New Delhi
      94.77/L0.00

      Popular in News

        HomeMarketsPremiumInstant LoanMint Shorts