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

Trump said that the pair will work together to “dismantle Government Bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies.”

Republican presidential candidate businessman Vivek Ramaswamy speaks at a caucus site at Horizon Events Center, in Clive, Iowa, Jan. 15, 2024. (AP Photo/Andrew Harnik)

Elon Musk attends The 2022 Met Gala Celebrating “In America: An Anthology of Fashion” in New York City. (Dimitrios Kambouris/Getty Images for The Met Museum/Vogue)

“It will become, potentially, ‘The Manhattan Project’ of our time,” the announcement on Tuesday evening said. “Republican politicians have dreamed about the objectives of ‘DOGE’ for a very long time.”

The president-elect said that Musk and Ramaswamy will provide “advice and guidance from outside of Government, and will partner with the White House and Office of Management & Budget to drive large scale structural reform, and create an entrepreneurial approach to Government never seen before.”