Trump is establishing a new department “Department of Government Efficiency” with Elon Musk as one of the leaders has more than doubled since the beginning of the month Yahoo

[Aithisg Naidheachd Yahoo]Republican Trump, who won the US election, is organizing a team recently announced the establishment of the “Department of Government Efficiency (DOGE)”, which will be headed by Tesla CEO Elon Musk and Vivek Ramaswamy. founder of the biotechnology company Roivant Sciences and a former Republican presidential primary candidate, is leading the effort.

Trump said that under the leadership of the two men, the Department of Government Efficiency will work to eliminate bureaucracy, unnecessary regulations, reduce spending, and reorganize federal government agencies, describing it as a crackdown on anyone who involved in government waste” of the time just like the United States’ plan to develop the atomic bomb.

Trump also indicated that the Department of Government Efficiency will only work for about a year and a half, with the goal of summarizing its work by July 4, 2026, the “American Independence Day”, in the hope that a smaller department will emerge and more efficient. before that time.

Why Elon Musk?

Musk is one of Trump’s top campaign donors.Associated PressYesterday (12th), sources were quoted as saying that the American PAC founded by Musk had earlier spent US$200 million (HK$1.56 billion) to support Trump’s election campaign. The PAC’s most controversial earlier election support campaign was to hold a “$1 million a day” lottery in swing states like Pennsylvania in mid-October. Registered voters only had to sign a pledge to support freedom of speech and advocacy participate. The money laundering operation was prosecuted by the District Attorney for the District of Philadelphia, Pennsylvania, but a judge ruled earlier this month that the operation was legal.

Musk’s efficiency and big steps in the market are also known to the outside world. In 2022, after Musk acquired the social media Twitter (now renamed In the middle of last year,fox The financial press has reported that, after several layoffs, only about 1,000 employees remain at Twitter, which is about 10% of the number of employees before the company was acquired.

It is worth mentioning that the abbreviation of the new Department of Government Efficiency is “DOGE”, which happens to be a cryptocurrency.“dogecoin”contraction. “Musk and Dogecoin” is one of the famous memes in the cryptocurrency industry and the financial world Although there is not enough evidence that Musk has a lot of Dogecoin, money residents and netizens have also criticized on Musk’s comments from time to time they are correct, believing that he supports Dogecoin in straight and curved lines. This time, the department uses DOGE as an abbreviation, which further strengthens the connection among netizens. Since the night before the election on November 1, the price of Dogecoin has increased by almost 1.4 times, outperforming Bitcoin. The highest value of the Dogecoin share at press time was 0.38 US dollars.

Ramaswamy had contested in the party primaries

As for Ramaswamy, another 39-year-old who will head the Department of Government Efficiency, he graduated from Harvard University and Yale University in his early years and is the founder of the biotechnology company Roivant Sciences. Ramaswamy positions himself as a conservative. He once said that the United States would continue to protect Taiwan until it achieved self-sufficiency in the semiconductor industry. In mid-January of this year, the Republican Party held a party primary in Iowa Ramaswamy in fourth place with 7.64% of the vote, well behind Trump, DeSantis, and Haley He announced that he had withdrawn out the election and expressed his support for Trump.

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Guard / NBC