Ramaswami and Musk to lead newly created department in Trump administration.

President Donald Trump has announced the creation of a new department in his future administration, to be led by prominent American businessmen Elon Musk and Vivek Ramaswamy.

The new department will be called the Department of Government Efficiency (DOGE) and will focus on fighting bureaucracy, reducing excessive regulation, and optimizing federal spending, said the president-elect.

President Donald J. Trump announces the Department of Government Efficiency (DOGE) — headed by @elonmusk and @VivekGRamaswamy pic.twitter.com/Ya2o45qlV8

— Trump War Room (@TrumpWarRoom) November 13, 2024

'Together, these wonderful Americans will pave the way for my administration to eliminate government bureaucracy, cut excessive regulation, reduce wasteful spending, and restructure federal agencies,' Trump said.

It is also worth noting that the political committee America PAC, launched by Musk, invested around $200 million to support Trump's presidential campaign.

According to ABC News, following his election victory, Musk became an influential figure in Trump's inner circle and was practically by his side every day.

Previously, Trump had announced several appointments to his future administration.