Donald Trump has named Elon Musk and Vivek Ramaswamy to lead a new “Department of Government Efficiency.” In announcing the appointments, Trump said the billionaires would be tasked with dismantling government bureaucracy, cutting waste and restructuring entire federal agencies, with their work set to conclude by July 4, 2026. Musk is the world’s richest person and is majority owner of SpaceX, which receives billions of dollars in contracts from NASA, the Pentagon and U.S. spy agencies. The Associated Press reports Elon Musk spent $200 million through his political action committee on efforts to help Trump win the election.