Tesla CEO Elon Musk has reaffirmed his commitment to leading the electric vehicle maker for the next five years, citing a desire to maintain control over the company. In a video interview during Bloomberg’s Qatar Economic Forum, Musk stated that he wants to keep his position as CEO to ensure “sufficient voting control” and prevent activist investors from ousting him.
Musk has faced criticism in recent months due to his involvement with President Donald Trump’s so-called Department of Government Efficiency. While he plans to spend a day or two per week on government work, Musk acknowledged that his dual role may lead to blowback from some individuals.
Tesla recently reported a 20% drop in automotive revenue and a 71% decline in net income for the first quarter of 2025, leading to volatile trading. Despite this, shares rose mostly flat on Tuesday following Musk’s statement.
Musk also addressed criticism surrounding his political activity, stating that he would spend “a lot less” on campaigns in the future. He emphasized the importance of separating politics from business, while acknowledging that some individuals may object to his involvement with the Republican Party.
Additionally, Musk expressed ambitions for his other ventures, including SpaceX and Neuralink. His satellite internet service Starlink could potentially become a separate public company, according to Musk.
Source: https://www.cnbc.com/2025/05/20/elon-musk-tesla-shares.html