President-elect Donald Trump announced Tuesday that Elon Musk and Vivek Ramaswamy will lead a new “Department of Government Efficiency” in his second administration.

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

President-elect Donald Trump announced Tuesday he would tap Elon Musk and Vivek Ramaswamy, both successful entrepreneurs, to run the Department of Efficiency — or “DOGE” — a new government agency tasked with making substantial cuts to the federal government.