The world's wealthiest man is the CEO of Tesla and SpaceX, and he has a number of other roles across his many companies.

President-elect Donald Trump announced on Tuesday that Elon Musk will co-lead the Department of Government Efficiency, the acronym of which spells out

Headed by Elon Musk and Vivek Ramaswamy, the body announced by Trump would operate outside government and provide advice to the White House on cutting spending.

President-elect Donald Trump on Tuesday night announced Elon Musk will help lead an effort to cut government regulations and slash spending, making good on a campaign pledge to put the Texas billionaire who spent $119 million to get him elected in charge of the so-called “Department of Government Efficiency.

President-elect Donald Trump says Elon Musk and former GOP presidential candidate Vivek Ramaswamy will lead a new “Department of Government Efficiency.”

Donald Trump has tasked Elon Musk with setting up a panel to streamline the U.S. government. Although the president-elect has said little about how this group would operate, Musk has previously set an ambitious goal of cutting $2 trillion of spending.

Sources said that Musk’s near-constant presence at Mar-a-Lago in the week since Election Day had begun to wear on people who’ve been in Trump’s inner circle