Trump named tech billionaire Elon Musk and conservative activist Vivek Ramaswamy to head up a new "Department of Government Efficiency," fulfilling a campaign pledge to give Musk sweeping oversight of government spending.

Former Republican presidential candidate Vivek Ramaswamy will co-lead the newly created department that Trump indicated will operate outside the confines of government.

Musk, the billionaire CEO of SpaceX and Tesla, reportedly spent "at least $130 million" on pro-Trump campaigning.

Donald Trump’s election to a second term in the White House was a boon for Elon Musk personally. His companies stand to benefit, too, just not in the ways investors might expect.On the back of Tesla stock’s epic 29% gain this past week,

President-elect Donald Trump announced Tuesday that Elon Musk will head the new Department of Government Efficiency, a commission aimed at reducing government waste and cutting federal bureaucracy.

Donald Trump may have won the 2024 presidential election, but Elon Musk may end up being the bigger winner than the soon-to-be 47th President of the United States. Musk bet big on Trump and spent millions to back him.

President-elect Donald Trump has picked tech billionaire Elon Musk, CEO of Tesla and SpaceX, to lead a new initiative aimed at streamlining federal operations and cutting wasteful government spending.

Tesla (TSLA) and SpaceX CEO Elon Musk is riding high right now. After months of work campaigning on President-elect Donald Trump’s behalf, his chosen candidate is heading back to the White House, proving that his latest gamble was a success — and earning him more sway with the upcoming administration.