Yesterday we saw Elon and not much happened.

US President-elect Donald Trump announced on Tuesday that he has appointed Elon Musk, owner of Tesla and currently the richest man in the world, to lead a new Department of Government Efficiency alongside former Republican presidential candidate Vivek Ramaswamy.

"Together, these two wonderful Americans will pave the way for my Administration to dismantle government bureaucracy, reduce over-regulation, cut wasteful spending and restructure federal agencies - essential to the 'Save America' movement," Trump said in a statement.

The Department of Government Efficiency will be known by the abbreviation Doge, according to Trump, an apparent reference to the cryptocurrency Dogecoin, which Musk has supported, calling it "the people's cryptocurrency."

Musk donated $200 million to Trump's campaign and was one of his main public supporters ahead of the presidential election.