Elon Musk has committed to remaining Tesla’s CEO for at least another five years, addressing recent speculation about his potential departure. Speaking Tuesday at an economic forum in Qatar, Musk emphasized that maintaining “reasonable control” of Tesla was his primary motivation for staying.
“Yes, no doubt about that at all,” Musk stated when asked about his plans to continue leading the electric vehicle company.
This declaration follows Tesla chair Robyn Denholm’s recent denial of a Wall Street Journal report claiming board members had contacted executive search firms about finding Musk’s replacement.
Appearing via video, Musk asserted that Tesla has already reversed its sales decline, with strong demand in most regions except Europe, where the company has faced protests related to his political positions. Tesla sales have also struggled in the United States, dropping nine percent in the first quarter of 2025 according to Cox Automotive. These declines have been attributed to Musk’s political involvement, particularly his leadership of the Department of Government Efficiency, which implemented significant federal workforce reductions and sparked protests and boycotts of Musk-affiliated businesses.
“We’re now back over a trillion dollars in market cap, so clearly, the market is aware of the situation, so it’s already turned around,” Musk said. Tesla currently maintains a market capitalization of $1.08 trillion.
Musk criticized Delaware judge Kathaleen St Jude McCormick, who blocked his $56 billion compensation package, describing her as an “activist who is cosplaying a judge in a Halloween costume.” While acknowledging his Tesla compensation influenced his decision to remain, Musk emphasized his desire for “sufficient voting control” to prevent being “ousted by activist investors.”
“It’s not a money thing, it’s a reasonable control thing over the future of the company, especially if we’re building millions, potentially billions of humanoid robots,” he explained.
The billionaire also announced plans to reduce his political spending following his $270 million contribution to Donald Trump’s successful 2024 presidential campaign. “In terms of political spending, I’m going to do a lot less in the future,” Musk said, adding that he doesn’t “currently see a reason” for additional contributions.
As of 11am Eastern time, Tesla’s stock had risen 1.13 percent since market opening, though it remains down 15 percent for the year.
Regarding Starlink, his satellite internet service provider, Musk indicated the company might eventually go public but emphasized there was “no rush.” The service has expanded to over 70 countries, with particular focus on emerging markets like India.
Bloomberg reported that South Africa’s government plans to offer exceptions to local Black ownership requirements to allow Starlink to operate there, with a “last-minute” meeting scheduled for Tuesday night between South African officials and Musk’s representatives. South African President Cyril Ramaphosa and government officials arrived in Washington Monday to address strained U.S. relations.
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