An unpaid group of billionaires, tech executives and some disciples of Peter Thiel, a powerful Republican donor, are preparing to take up unofficial positions in the U.S. government in the name of cost-cutting.

Elon Musk walked back his previous claim that he could cut at least $2 trillion from the federal budget, saying Wednesday that half that amount would be “an epic outcome.”

Elon Musk changed his previous projection of how much he can save the U.S. in his new role as co-head of Donald Trump 's Department of Government Efficiency (DOGE).

Musk contributed around $275 million to Trump's election campaign. On Wednesday, the Tesla CEO admitted that DOGE may not meet its initial aim to cut $2 trillion in federal spendi