Elon Musk said Tuesday that he is committed to leading Tesla for the next five years amid concerns about his involvement in the Trump administration.
Musk to remain Tesla CEO
Asked over video at Bloomberg’s Qatar Economic Forum in Doha whether he would be Tesla’s CEO in five years, Musk responded, “Yes, no doubt about that at all.”
Musk added that he wants to keep his position as Tesla’s CEO to maintain control over the company, noting that he wants sufficient voting control so activist investors cannot oust him. “It’s not a money thing, it’s a reasonable control thing over the future of the company,” he added.
Questions surrounding Musk’s future at Tesla come after the EV maker’s first quarter earnings report, released in April, revealed that it suffered its worst quarter by revenue and sales in years.
Analysts are concerned about his role in the Trump administration. Forbes quoted Wedbush analyst Dan Ives saying in March that Musk dedicating “110%” of his time as head of the Department of Government Efficiency has essentially turned Tesla into a political symbol.
Following the release of Tesla’s Q1 earnings report, Musk told investors he would be allocating far more of his time to Tesla.
When asked about his future role in political campaign financing, Musk said he intends to reduce his spending on campaigns, but added that he would contribute if he feels it is necessary. He also refuted claims of recent discussions with Russian President Vladimir Putin, stating that their last conversation occurred five years ago.
Tesla shares surged 3% to $352.34 around 9:27 pm AST Arabia Tuesday.
Leadership change report
The billionaire’s comments come three weeks after he strongly denied a Wall Street Journal report that said the carmaker’s board began a search for a new CEO to take over.
The report, citing unnamed people familiar with the discussions, said that the board met Musk during this period and its members informed him that he needed to devote more time to Tesla and publicly say so.
Robyn Denholm, chair of Tesla’s board of directors, also dismissed the report as absolutely false and said the Journal was notified of this before its story was published.
Starlink going public
During the forum, Musk also said that it is possible that his internet service provider Starlink can go public at some point in the future. However, he noted that there was no rush in doing so.
The company now operates in more than 70 countries, with a strong focus on further growth in emerging markets.
Forbes valuation
Musk, the richest person in the world, has a net worth of $422.6 billion as of May 20, 2025, according to Forbes estimates.
This story was updated at 9:27 pm AST Arabia Tuesday.
