Elon Musk commits to stay as Tesla CEO for 5 more years amid political backlash | Company Business News

Billionaire entrepreneur Elon Musk confirmed his commitment to remain Tesla’s CEO for at least the next five years during a virtual appearance at the Qatar Economic Forum. When asked if he sees himself as Tesla’s chief executive in five years, Musk responded simply, “Yes.” Upon further questioning, he added with a chuckle, “I can’t be still here if I’m dead.”

Facing consumer and stock pressure amid political ties

Musk’s firm stance comes amid rising pressure on Tesla’s business, coinciding with his close involvement with US President Donald Trump’s government through the Department of Government Efficiency (DOGE).

The automaker has faced intense scrutiny from consumers and investors, particularly as Musk’s political affiliations have triggered backlash.

Musk reflects on political involvement

When asked if the challenges made him reconsider his political engagement, Musk paused briefly before saying, “I did what needed to be done.” He stressed that, despite facing threats and “massive violence” against his companies and himself, he remains resolute: “Don’t worry: We’re coming for you.”

Tesla’s performance and market challenges

Musk highlighted recent improvements in Tesla’s sales outside Europe, where the company has faced protests linked to his political views and Trump endorsements.

Tesla reported a 13% drop in first-quarter deliveries, and some investors expect another yearly decline in 2025 due to political backlash and delays as customers await cheaper versions of the redesigned Model Y crossover.

Tesla’s shares initially jumped 3.3% following Musk’s comments but later settled up about 1%, with the stock down 15% for the year.

Plans to reduce political spending

Musk also indicated he would cut back on his political donations, which have included at least $250 million in support of Trump’s campaign.

“I think I’ve done enough,” he said, signaling a shift away from heavy political spending.

Tesla pay package dispute and control concerns

Musk acknowledged ongoing legal challenges affecting his compensation, referring disparagingly to a Delaware judge who blocked his once $56 billion pay package as “an activist who is cosplaying a judge in a Halloween costume.”

However, he emphasised that his decision to stay with Tesla is less about money and more about “reasonable control” over the company’s future, especially as Tesla ventures into AI and robotics.

Musk said, “I want sufficient voting control so I cannot be ousted by activist investors,” noting plans to build “millions, potentially billions of humanoid robots.”