• 2 days ago
President-Elect Donald Trump has tapped Tesla chief Elon Musk to lead the Department of Government Efficiency, “working in conjunction with” former Republican presidential candidate Vivek Ramaswamy, tasking the two with driving “large scale structural reform” through the department, which is not yet recognized as an official government agency.

Read the full story on Forbes: https://www.forbes.com/sites/antoniopequenoiv/2024/11/12/trump-says-elon-musk-will-head-new-department-of-government-efficiency-alongside-vivek-ramaswamy/

Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1

Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:

https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript

Stay Connected
Forbes newsletters: https://newsletters.editorial.forbes.com
Forbes on Facebook: http://fb.com/forbes
Forbes Video on Twitter: http://www.twitter.com/forbes
Forbes Video on Instagram: http://instagram.com/forbes
More From Forbes: http://forbes.com

Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.

Category

People
Transcript
00:00President-elect Donald Trump has tapped Tesla chief Elon Musk to lead the Department of
00:05Government Efficiency with former Republican presidential candidate Vivek Ramaswamy,
00:10tasking the two with driving large-scale structural reform through the department,
00:14which is not yet recognized as an official government agency.
00:19The Department of Government Efficiency was first proposed by Musk and has been
00:23championed by Trump as a way to cut down on government bureaucracy.
00:28The department, which when acronymized shares the name of the dogecoin cryptocurrency often
00:33touted by Musk, will slash access regulations, cut wasteful expenditures,
00:38and restructure federal agencies, according to a statement from Trump.
00:44Trump likened the department to the Manhattan Project,
00:47the research and development program behind the creation of the first nuclear weapons,
00:52and said it would provide advice and guidance from outside of government.
00:57It's unclear exactly how the department will operate and what its relationship
01:01will be with Trump's administration, though the statement said it will
01:05partner with the White House and Office of Management and Budget to drive large-scale
01:10structural reform and create an entrepreneurial approach to government never seen before.
01:16The statement also suggested the department will function as a consulting organization
01:21that will be quote-unquote outside of government, rather than a new federal
01:25department, which would require congressional approval and seemingly go against the
01:29department's proposed mission. It is not clear whether the initiative will receive federal funding.
01:37According to the statement, the department's work will be done no later than July 4,
01:412026, the 250th anniversary of U.S. independence,
01:46suggesting the new consultancy will only last for about half of Trump's term.
01:50For more on this story, check out Antonio Pequeño's article in the link in the description.

Recommended