President-elect Trump has announced that billionaire Elon Musk and former Republican presidential candidate Vivek Ramaswamy will lead the Department of Government Efficiency.

Trump said the pair will work together to “dismantle government bureaucracy, eliminate redundant regulations, reduce wasteful spending and restructure federal agencies.”

“It may become the Manhattan Project of our time,” the announcement said Tuesday evening. “Republican politicians have long dreamed about the goals of ‘DOGE’.”

The president-elect said Musk and Ramaswamy will “provide advice and guidance from outside government, and work with the White House and the Office of Management & Budget to achieve large-scale structural reforms and create an entrepreneurial approach to government that continues to has never been seen before. .”

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Vivek Ramaswamy and Elon Musk. The pair have been tapped to lead Trump’s Department of Government Efficiency. (Getty Images / AP Images)

Trump said the agency will focus on creating a more efficient U.S. government that aims to “make life better for all Americans.”

“Importantly, we will eliminate the massive waste and fraud that results from our annual $6.5 trillion in government spending. They will work together to liberate our economy and hold the U.S. government accountable to ‘WE THE PEOPLE.’” Trump said.

“Their work will be completed by July 4, 2026. A smaller government, with more efficiency and less bureaucracy, will be the perfect gift for America on the 250th anniversary of the Declaration of Independence. I am convinced that they will succeed!”

Republican presidential candidate, former President Trump, greets Vivek Ramaswamy as he speaks at a campaign rally in New Hampshire. (Brandon Bell/Getty Images)

In an X-post, Ramaswamy responded to his appointment.

“We will not tread lightly, Elon Musk,” he wrote in the post.

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Ramaswamy was an outspoken supporter of Trump after he suspended his presidential campaign on January 24.

In a statement about X, founder Roivant Sciences, a pharmaceutical company, said he would withdraw from the Ohio Senate nomination.

“And yes, this means I am withdrawing from consideration for the upcoming Ohio Senate nomination,” he wrote. “Whoever appoints Governor DeWine to JD’s seat has some big shoes to fill. I will help them where I can.’

Elon Musk jumps on stage as Republican presidential candidate, former President Trump, speaks during a campaign rally at the Butler Farm Show, October 5, in Butler, Pennsylvania. (AP Photo/Evan Vucci)

Similarly, Musk has been a key part of Trump’s campaign – with the tech entrepreneur traversing key battleground states in the run-up to the 2024 election.

Commenting on his position in the Trump White House, Musk wrote: “Threat to democracy? No, threat to BUREAUCRACY!!!”

The world’s richest man, who said he had voted for former Democratic presidential candidates including President Biden in the past, endorsed Trump this summer after the first assassination attempt on the 45th president on July 13.

Republican presidential candidate, former President Trump, pumps his fist as he arrives to speak at a campaign event at the Nassau Coliseum, September 18, 2024, in Uniondale, NY (AP Photo/Alex Brandon)

Trump’s string of Cabinet positions came quickly after the president-elect’s landslide victory over Vice President Kamala Harris.

Trump has selected the top Republicans, and the president-elect is expected to select as well Senator Marco Rubio of Florida to serve as his Secretary of State and South Dakota Governor Kristi Noem as Secretary of Homeland Security.

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In addition, Representative Elise StefanikRN.Y., has been tapped by United Nations Ambassador and former Arkansas Governor Mike Huckabee as ambassador to Israel.