Pro-Trump businessmen Elon Musk and Vivek Ramaswamy have officially joined Donald Trump’s administration, according to a statement from the president-elect.

Trump announced in a statement on Tuesday that the two would jointly lead the newly established Department of Government Efficiency. Both Ramaswamy and Musk were vocal throughout Trump’s campaign about the need to reduce the size and power of the federal government.

“I am pleased to announce that the Great Elon Musk, working in conjunction with American Patriot Vivek Ramaswamy, will lead the Department of Government Efficiency [DOGE],” Trump wrote on his Truth Social platform.

‘DOGE’ is also a cryptocurrency that Musk has often promoted.

“Together, these two wonderful Americans will pave the way for my Administration to dismantle Government Bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies,” Trump said in a statement.

The Department of Government Efficiency is not a new government agency. Trump said it will “provide advice and guidance from outside of government” and “partner” with the White House and Office of Management and Budget to drive structural government reform, ABC News reported.

“‘This will send shockwaves through the system, and anyone involved in Government waste, which is a lot of people!’ stated Mr. Musk,” the statement continued.

JUST IN: 🇺🇸 President-elect Trump appoints Elon Musk and Vivek Ramaswamy to lead Department of Government Efficiency (DOGE). pic.twitter.com/WtoLBZSgGM

— Watcher.Guru (@WatcherGuru) November 13, 2024

Trump speculated that the effort could become a modern-day version of the “Manhattan Project” in terms of its scope, influence, and legacy.

“Republican politicians have dreamed about the objectives of ‘DOGE’ for a very long time. To drive this kind of drastic change, the Department of Government Efficiency 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,” Trump wrote.

“I look forward to Elon and Vivek making changes to the Federal Bureaucracy with an eye on efficiency and, at the same time, making life better for all Americans. Importantly, we will drive out the massive waste and fraud which exists throughout our annual $6.5 Trillion Dollars of Government Spending.

“They will work together to liberate our Economy, and make the U.S. Government accountable to ‘WE THE PEOPLE.’ Their work will conclude no later than July 4, 2026 — A smaller Government, with more efficiency and less bureaucracy, will be the perfect gift to America on the 250th Anniversary of The Declaration of Independence. I am confident they will succeed!”

Trump announced on Tuesday night that he will nominate Pete Hegseth of Fox News to be the next Secretary of Defense.

“I am honored to announce that I have nominated Pete Hegseth to serve in my Cabinet as The Secretary of Defense. Pete has spent his entire life as a Warrior for the Troops, and for the Country. Pete is tough, smart and a true believer in America First. With Pete at the helm, America’s enemies are on notice – Our Military will be Great Again, and America will Never Back Down,” Trump said in the statement.

“Pete is a graduate of Princeton University, and has a Graduate Degree from Harvard University. He is an Army Combat Veteran who did tours in Guantanamo Bay, Iraq, and Afghanistan. For his actions on the battlefield, he was decorated with two Bronze Stars, as well as a Combat Infantryman’s Badge. Pete has been a host at FOX News for eight years, where he used that platform to fight for our Military and Veterans. Pete’s recent book, “The War on Warriors,” spent nine weeks on the New York Times best-sellers list, including two weeks at NUMBER ONE,” he added.

Trump concluded, “The book reveals the leftwing betrayal of our Warriors, and how we must return our Military to meritocracy, lethality, accountability, and excellence. Pete has also led two Veterans Advocacy organizations, leading the fight for our Warriors, and our great Veterans. Nobody fights harder for the Troops, and Pete will be a courageous and patriotic champion of our ‘Peace through Strength’ policy.”