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 will have a place in the second Trump administration. The SpaceX founder and CEO will lead the new "Department of Government Efficiency" along with entrepreneur and politician Vivek Ramaswamy, President-elect Donald Trump announced on Tuesday evening (Nov. 12).

But the structure of the so-called “department” may allow Musk and his co-chair, Vivek Ramaswamy, to evade some ethics requirements.