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.

The “Department of Government Efficiency” won’t be a real government agency. In fact, it won’t even be part of the federal government.