**Elon Musk to Co-Lead New Government Efficiency Department alongside Vivek Ramaswamy**

Elon Musk has taken on a new governmental role as co-leader of the Department of Government Efficiency (DOGE), alongside businessman Vivek Ramaswamy. The announcement was made by President-elect Donald Trump on Tuesday evening. This new department aims to reduce government expenditures and promote fiscal responsibility.

Musk promptly took to social media platform X to explain his vision for DOGE, drawing a parallel to the popular cryptocurrency of the same name. He assured the public that the department's activities would be fully transparent, with all actions posted online. Additionally, he announced plans to create a "leaderboard" showcasing the most egregious examples of wasteful government spending. This post quickly went viral, amassing over 26 million views, 18,000 comments, and 50,000 retweets by Wednesday morning.

The business community has been quick to react, with many leaders expressing their support and offering suggestions. Billionaire hedge fund manager Bill Ackman, an avid Trump supporter, endorsed Musk’s transparency initiative by reposting the leaderboard announcement and expressed renewed patriotic excitement. Shaun Maguire, partner at Sequoia Capital and also a Trump supporter, described the news as "one of the greatest things" he had ever read.

Reactions were not confined solely to Trump supporters. Aaron Levie, CEO of the cloud computing company Box, and a known supporter of Harris, also chimed in. On X, Levie highlighted the potential for efficiency improvements within the government, suggesting that such streamlining could ultimately save money rather than increase costs.

Despite the enthusiasm from various sectors, there are skeptics. One critic pointed out the irony of having two leaders for a department focused on efficiency, hinting that it may not be as effective as envisioned.

Currently, it remains unclear how extensively Musk and Ramaswamy will affect government budgeting and operations or how deeply their business philosophies will influence their approach. Neither Trump's transition team nor Musk has responded to requests for further comments from Business Insider.