Donald Trump Hires Elon Musk and Vivek Ramaswamy to Bring 'Drastic Change' to the U.S. Government — And Gives Them a 2 Year Deadline Musk and Ramaswamy have to find ways to cut down on government spending and overall bureaucracy.

By Sherin Shibu Edited by Melissa Malamut

Key Takeaways

  • Elon Musk and Vivek Ramaswamy are leading a new department created by President-elect Donald Trump: the Department of Government Efficiency.
  • Musk and Ramaswamy have until July 4, 2026 to downsize the U.S. government.
  • Both billionaires were quick to respond to the news.

President-elect Donald Trump has tapped billionaire entrepreneurs Elon Musk and Vivek Ramaswamy to lead a new department in charge of downsizing and restructuring the U.S. government to bring about "drastic change."

This new division is called the Department of Government Efficiency, or the acronym DOGE, a reference to the cryptocurrency Musk has vocally supported.

Musk and Ramaswamy "will pave the way" for the Trump administration "to dismantle Government Bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies," Trump wrote in an announcement on Tuesday on X, a platform owned by Musk.

Related: 3 Major Reasons Why Donald Trump's Second Term Will Benefit My Business and Increase Profits

"Importantly, we will drive out the massive waste and fraud which exists throughout our annual $6.5 Trillion Dollars of Government Spending," Trump wrote.

President-elect Donald Trump. (Photo by JIM WATSON/AFP via Getty Images)

Musk and Ramaswamy have until July 4, 2026, or the 250th anniversary of the Declaration of Independence, to make the objectives of the new department a reality.

Both Musk and Ramaswamy were quick to respond to the news.

Ramaswamy wrote on X on Tuesday that DOGE will "soon" crowdsource, or ask the American people, for "examples of government waste, fraud, & abuse."

He added in a separate post that "the only right answer is a massive downsizing" of the federal bureaucracy.

Related: Who Is Vivek Ramaswamy?

Musk reposted Ramaswamy's comments on Wednesday morning and wrote, "This is the only way."

The U.S. government spent $6.75 trillion in fiscal year 2024, which ran from October 1, 2023 to September 30, 2024.

Related: Here's How Donald Trump's Victory Will Impact Small Businesses
Sherin Shibu

Entrepreneur Staff

News Reporter

Sherin Shibu is a business news reporter at Entrepreneur.com. She previously worked for PCMag, Business Insider, The Messenger, and ZDNET as a reporter and copyeditor. Her areas of coverage encompass tech, business, strategy, finance, and even space. She is a Columbia University graduate.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

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