Government efficiency 'czar' Musk to cut a lot of waste in US govt: Mark Mobius

With Elon Musk leading the new Department of Government Efficiency (DoGE) under Donald Trump’s presidency in the US, the tech billionaire will be able to cut down on a lot of waste in the US government, ace global investor Mark Mobius has said.

In an interaction with IANS, Mobius said that as a “government efficiency czar”, the tech billionaire will be in a better position to bring required changes to the US government.

“That will be a big contributor to more efficiency and higher productivity in the US,” said Mark Mobius, who runs Mobius EM Opportunities Fund.

US President-elect has announced to appoint maverick entrepreneurs Elon Musk and Vivek Ramaswamy to lead the new Department of Government Efficiency (DoGE) that will be charged with drastically changing government while cutting waste.

Trump said that DoGE "will become, potentially the 'Manhattan Project' of our time" -- a reference to the US effort during World War II to develop atomic weapons in record time and profoundly affect the world.

The tech billionaire said, "This will send shockwaves through the system, and anyone involved in Government waste, which is a lot of people!"

“All actions of the Department of Government Efficiency will be posted online for maximum transparency. Anytime the public thinks we are cutting something important or not cutting something wasteful, just let us know! We will also have a leaderboard for most insanely dumb spending of your tax dollars. This will be both extremely tragic and extremely entertaining (with a smiley emoji),” said the tech billionaire.

Since it is a new department, it is not clear if the leaders would be in the Cabinet, have to be confirmed by the Senate, and what their titles would be.