President-elect Donald Trump announced on Tuesday that Elon Musk will lead the new Department of Government Efficiency, whose English acronym is DOGE, Musk's favorite cryptocurrency. 
So the CEO of Tesla, SpaceX, xAI, Neuralink and owner of X will lead the division along with biotech entrepreneur and former presidential candidate Vivek Ramaswamy. Their goal is to "dismantle government bureaucracy, reduce excessive regulations, reduce waste, spending, and restructure Federal Agencies."
Specifically, the DOGE will “provide advice and guidance outside of government,” suggesting that it will not be an official government agency that requires legislative approvals and funding. Instead, DOGE will work with the White House and the Office of Management & Budget, according to the press release.
Trump said DOGE's work will be completed no later than July 4, 2026.
Musk has touted the creation of the new Department of Government Efficiency in recent months while campaigning for Trump across the country.
At an October rally in New York, Musk promised to win "at least $2 trillion in cuts" within federal agencies if Trump wins.
