Mr Musk is in charge of Mr Trump's newly created Department for Government Efficiency (DOGE). Elon Musk's starring role in the new Donald Trump administration was confirmed as he appeared front and centre of his inauguration proceedings - and witnessed him pledge a mission to Mars.

Tech mogul Elon Musk expressed optimism about his Department of Government Efficiency at Donald Trump's presidential inauguration, even as lawsuits against the agency caused popular dog-themed cryptocurrency Dogecoin (CRYPTO: DOGE) to plummet.

In his prepared remarks, Trump, a longtime backer of U.S.-led space exploration and exploitation, singled out Mars and left the moon hanging.

During his second inauguration speech, President Donald Trump endorsed a Mars mission as a part of America’s push into new horizons.

Elon Musk pumped his fists as he spoke at the Inauguration Day viewing party at Capital One arena. He celebrated Trump’s victory, calling it “really important” and highlighting the new president’s promise to plant the U.

The world saw Donald Trump take the oath of office for his second non-consecutive term as President of the United States on Monday. The ceremony, held in the Rotunda of the U.S. Capitol, drew an eclectic crowd of tech moguls, foreign diplomats, and business leaders.

The case of mistaken identity was quickly resolved, but astronomers say it shows the need for transparency around craft in deep space.

Elon Musk, the world's richest man, earns over 23 million every hour and has a net worth of around 430 billion. Known for selling his mansions to live in a $50,000 prefab near SpaceX, Musk is heavily invested in future-oriented projects such as Tesla's electric vehicles,

Administration insiders suggest the president may get rid of the White House advisory body, which SpaceX's top lobbyist calls 'a waste of time.'

President Trump has announced a bold Mars mission to plant the U.S. flag on the Red Planet, an ambition shared by Elon Musk's SpaceX.

Trump administration considers axing the National Space Council as SpaceX gains influence over US space policy.