Trump appoints Elon Musk to boost fiscal efficiency

Elon Musk, the world’s richest man who contributed millions of dollars to help Donald Trump win the presidency, was given even more power on Tuesday when he was appointed to a position aimed at improving government efficiency.

Musk will co-lead a newly established Department of Government Efficiency with former Republican presidential candidate Vivek Ramaswamy, an organization Trump said will function outside the government. In a statement, Trump claimed that Musk and Ramaswamy “will pave the way for my Administration to restructure Federal Agencies, cut unnecessary spending, slash excessive regulations, and dismantle Government Bureaucracy.”.

Trump stated that the new department will “provide advice and guidance from outside of government” and “realize long-held Republican dreams,” implying that Musk and Ramaswamy’s positions would be informal, exempt from Senate approval requirements, and that Musk would continue to lead the electric vehicle company Tesla, the social media platform X, and the rocket company SpaceX.

According to Trump, the new department would collaborate with the Office of Management and Budget and the White House to “drive large-scale structural reform and create an entrepreneurial approach” to government that has never been seen before. The project would be completed on July 4, 2026, the 250th anniversary of the Declaration of Independence’s signing.

Musk, the world’s richest man, was already poised to gain from Trump’s win. The multibillionaire businessman is anticipated to use his extraordinary influence to support his companies and obtain advantageous government treatment. Having many connections in Washington, Musk publicly appeared with Trump and donated millions of dollars to his campaign.