Elon Musk appointed as Minister of Government Efficiency in Trump’s Administration – The ambitious gamble of the world’s richest man
It was one of the most audacious gambles in recent economic and political history, and it paid off: newly elected US President Donald Trump announced on Tuesday that he would reward billionaire businessman Elon Musk for his support, which included donating tens of millions of dollars to his campaign, by appointing him to head a ministry dedicated to overseeing government efficiency.
Musk, along with former Republican candidate and businessman Vivek Ramaswamy, will lead the newly established Ministry of Government Efficiency, operating outside typical government restrictions.
— Elon Musk (@elonmusk) November 13, 2024
Trump stated in an announcement that the two men will pave the way for his government to eliminate bureaucratic red tape, drastically cut excessive regulation, reduce wasteful spending, and reorganise federal agencies.
According to the Republican, this new ministry will fulfil long-standing party dreams and provide guidance and counsel outside of government, implying that Musk and Ramaswamy’s roles will be informal and will not require Senate approval. This arrangement allows the billionaire to remain at the helm of his car manufacturing company Tesla, social media platform X, and space exploration company SpaceX.
The new ministry will work with the White House Office of Management and Budget to lead extensive structural reforms and offer a business-oriented approach to governance, Trump added.
The ministry’s work is set to conclude on July 4, 2026, the 250th anniversary of the signing of the US Declaration of Independence.
“Huge Role”
Musk, recognised by Forbes as the world’s richest man, was expected to benefit from Trump’s victory, as his influence was anticipated to grow, assisting his companies and receiving favourable treatment from the government.
With strong connections in Washington, Musk donated millions to support Trump’s campaign and made appearances at his rallies.
Adding a ministerial position to his resume, Musk is likely to see his companies’ values increase even further.
It’s clear that Musk will have a massive role in Trump’s White House, gaining access to an increasing number of federal agencies, said Daniel Ives, stock market expert at Wedbush Securities.
However, Musk’s appointment was criticised by the consumer rights advocacy group Public Citizen.
“Musk not only lacks knowledge about government efficiency and regulatory authorities, but his own businesses have often defied the very rules he’ll now be able to challenge in his new role as ‘czar,'” said Lisa Gilbert, co-director of the NGO.
“This is the epitome of corporate corruption,” she added.
“All actions of the Ministry of Government Efficiency will be posted online for maximum transparency,” Musk wrote on X, inviting citizens to offer advice.
Elon Musk on D.O.G.E: We'll drain many swamps and be very transparent about it.
— ELON DOCS (@elon_docs) November 13, 2024
“We're going to be very open and transparent and be very clear about this is what we're doing [with the Department of Government Efficiency], here are the issues, this is the math for what's being… pic.twitter.com/bmqqwrZkZX
“We will also have a board highlighting the most outrageously wasteful uses of your tax dollars. It will be both tragically sad and incredibly entertaining,” he added.
At a Trump rally in October at Madison Square Garden, Musk had said that the federal budget could be cut by “at least” $2 trillion.
“Your money is being wasted, and the Ministry of Government Efficiency will fix it. We will get the government off your back and out of your wallet,” he had said at that event.
The ministry’s acronym – DOGE – also references the cryptocurrency Dogecoin, which Musk promotes.
In August, Musk and Tesla managed to have a federal lawsuit accusing them of misleading investors about the value of Dogecoin and engaging in insider trading dismissed.
Ramaswamy, for his part, is the founder of a pharmaceutical company. In his 2021 autobiography, Woke, Inc., he criticised decisions by some large corporations to base their strategies on social justice and climate change concerns.
Also read: Rubio and Waltz potential names in Trump administration
Source: AMA-MPA
