Billionaires Elon Musk and Vivek Ramaswamy will head an effort, dubbed DOGE, to reduce wasteful federal spending. Here's what it's about.

Elon Musk shared on X that nor he or Vivek Ramaswamy will be paid to co-lead the newly-created Department of Government Efficiency.

Gray checkmarks are usually reserved for official government accounts. The Department of Government Efficiency will operate outside the government.