Appointments made by incoming US President Trump

He introduced that Vivek Ramaswamy, a biotech investor, will work with the SpaceX and Tesla founder on the venture – whose acronym refers to Musk’s favorite cryptocurrency Dogecoin – to “dismantle” paperwork.

The pair will present exterior recommendation to the White Home on the right way to “drive massive scale structural reform”, mentioned Trump.

Earlier, Trump introduced the nomination of the Fox Information host and fight veteran Pete Hegseth to be his defence secretary and named John Ratcliffe – a former Texas congressman and federal prosecutor – to steer the CIA.

Musk – a mega-donor to the Trump marketing campaign – has been hotly tipped for a task within the administration. Ramaswamy ran as a Republican candidate for president earlier this yr in opposition to Trump, earlier than dropping out and endorsing him.