Elon Musk, the CEO of Tesla, confirmed in a recent interview that he intends to continue leading the electric vehicle manufacturer for the foreseeable future. Speaking with Bloomberg at the Qatar Economic Forum held in Doha, Musk expressed his commitment to remain with the company for at least the next five years.
His statements come on the heels of his participation in the Trump administration as the head of the Department of Government Efficiency (DOGE), which has raised concerns among investors regarding his dedication to Tesla amid his involvement with other ventures like SpaceX and xAI. This apprehension contributed to a decline in Tesla’s stock price, coinciding with softer demand for electric vehicles. Musk reassured stakeholders that Tesla has already experienced a “turnaround,” noting that while Europe presents challenges, demand remains robust in other markets.
Additionally, Musk hinted that Starlink, SpaceX’s satellite internet service, may pursue a public offering in the future but emphasized that there is no immediate urgency to take that step.
Having been an active supporter and donor to former President Donald Trump, Musk indicated plans to significantly reduce his political contributions moving forward, stating, “I think I’ve done enough.” When asked if this decision was influenced by recent backlash, he replied, “If I see a reason to do political spending in the future, I will do it. I do not currently see a reason.”
Reuters contributed to this report.
This is a developing story. Please check back for updates.
