Elon Musk has confirmed that he plans to remain as Tesla’s CEO for at least another five years. This announcement comes after some speculation about his potential departure. Musk made his commitment clear during an economic forum in Qatar, stating that maintaining control over Tesla is crucial for him.
Earlier this month, Tesla’s chair, Robyn Denholm, denied reports from the Wall Street Journal that the board had begun looking for Musk’s successor through executive search firms. Musk reassured attendees that he is focused on the company’s future and has already seen improvements in sales, especially outside of Europe, where he has faced protests due to his political views.
Despite a recent 9% drop in Tesla’s sales in the U.S. during the first quarter of 2025, Musk expressed confidence in the company’s recovery. He noted that Tesla’s market capitalization is back over a trillion dollars, indicating a positive shift in the market’s perception. Tesla’s stock was up 1.13% on the day of his remarks, although it remains down 15% for the year.
Musk also touched on his compensation, acknowledging that it plays a role in his decision to stay with Tesla. He emphasized the importance of having enough voting power to protect the company from activist investors. He mentioned his ambitions for Tesla, including the development of humanoid robots, which he believes require stable leadership.
In addition to his role at Tesla, Musk spoke about Starlink, his satellite internet service. He hinted that Starlink might go public in the future but stressed that there’s no immediate rush. The service has expanded to over 70 countries, with plans to grow in emerging markets like India.
Finally, Musk is reportedly reducing his political contributions after spending $270 million to support Donald Trump’s successful presidential campaign in 2024. He stated he does not see a need for further political spending at this time.
Overall, Musk’s remarks reflect his commitment to Tesla and its future, despite the challenges the company has faced recently.