Trump picks Elon Musk, Vivek Ramaswamy to lead Department of Government Efficiency

Trump has announced that billionaire Elon Musk and Vivek Ramaswamy, a former presidential candidate and ally of the president-elect, will lead a new Department of Government Efficiency.

"Together, these two wonderful Americans will pave the way for my Administration to dismantle Government Bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies," Trump said in a statement.

Trump has previously said Musk would take a role in his administration as head of a new "government efficiency commission."