The speculation and claims ended after it was officially confirmed that Elon Musk the owner of Tesla with Vivek Ramaswamy will head the DOGE of the United States.
Doge (Department of Government Efficiency) will be the new department in Trump’s rule, which will act as a department that will help the government slash additional expenditures, and restructure federal agencies including several other responsibilities. Yet it is worth noting that the working and the organizational structure of the department are not released.
https://twitter.com/elonmusk/status/1856502787930050927
Trump’s administration has compared the Doge with the popular Manhattan Project which was collectively led by Canada, the UK, and the USA during World II world war. It is worth noting that the position offered to Musk and Vivek will stand out from the government which requires no Senate approval.
Following the release of the information, Elon said “Doge will send shockwaves through the system and anyone involved in government waste.” He added, “This will send shockwaves through the system, and anyone involved in Government waste, which is a lot of people!”
It is crucial to note that Dogecoin, a known memecoin in the crypto market, has seen staggering growth after Trump’s victory and Elon recently about memecoins, especially DOGE.
What Does Musk’s Appointment Indicate?
As per Forbes ranking Elon has the highest wealth among all the billionaires worldwide, the recent confirmation from the Trump department has sparked debates that the newly elected president seems to be favoring elites.
However, there are speculations that his entry into a government-linked department might shape the decisions of the government, which might result in public disturbances. Finance experts argue that capitalism might trigger the US finance market if the government continues to favor capitalists and others it might trouble the markets.
Some of the experts claim that Musk has the opportunity to head the U.S. Doge as he has endorsed Trump in his rallies and has also helped him gain significant traction on social media. He bought Twitter and renamed it as X, he further changed the process and charges for verified tags.
Since its development till date X remains one of the most influential media platforms which has a user base of more than 100 million users worldwide. Trump’s victory constitutes the contribution of dozens of known personalities, companies, and entities, some of them injected huge funds to support his campaign and help in other ways.
Nayib visited the Tesla gigafactory in Austin, Texas, on September 21, 2024, according to an X post from his account. In the in-depth video, Musk greets and gives the El Salvadorian president a tour of the plant.
During their conversation, Nayib handed Musk a can of Coca-Cola in exchange for the Tesla founder’s indigenous coffee.
According to the information that is now accessible, the president of El Salvador is currently traveling to the United States to attend the 79th United Nations General Assembly in New York City, which is anticipated to take place during the final week of the current month.
