Elon Musk Says He’ll Remain Tesla CEO For Next 5 Years And Cut Down Political Spending
Elon Musk says he plans to remain Tesla CEO for next 5 years and plans to spend far less on politics. Here’s what that means for Tesla and beyond.
Summary
- Elon Musk says he’ll be Tesla CEO for next 5 years to maintain “reasonable control.”
- He will cut back significantly on political donations, after spending over $300M in 2024.
- Musk aims to calm investor concerns over his political involvement and its impact on Tesla.
Musk Plans to Remain Tesla CEO For Next 5 Years
At the Qatar Economic Forum, Elon Musk confirmed he plans to remain Tesla CEO for next 5 years. He emphasized it’s about maintaining control—not money. “I want sufficient voting control so I can’t be removed by activist investors,” Musk said, addressing speculation that Tesla’s board was seeking a replacement.
Earlier reports from the Wall Street Journal claimed that Tesla board members had contacted recruitment firms. However, Tesla Chair Robyn Denholm denied the claims, calling the story “absolutely false.” Musk himself dismissed it as a “deliberately false article.”
Why He’s Backing Off Politics
Musk has also pledged to cut down on political spending, saying “I think I’ve done enough.” Last year alone, he poured nearly $300 million into Republican campaigns, including over $200 million to support Donald Trump and millions more on controversial state races.
However, the political spotlight came at a cost. Musk became a top adviser in Trump’s administration, heading the Department of Government Efficiency (DOGE), a role that drew criticism and sparked protests against Tesla in the U.S. and Europe. Some investors were also worried Musk was spreading himself too thin.
Reassuring Tesla Shareholders
Facing pressure, Musk told investors in April that he would reduce his time with DOGE to “a day or two a week,” and focus more on Tesla. He reiterated that stance in Qatar, assuring that “having reasonable control of Tesla” remains his top priority.
The Tesla CEO’s comments briefly boosted the company’s stock price by over 3%, though shares are still down nearly 20% since Trump’s inauguration due to growing backlash and regulatory uncertainty surrounding AI and robotaxis.
What’s Next for Musk and Tesla?
Despite pulling back on politics, Musk hasn’t ruled it out completely. “If I see a reason to do political spending in the future, I will do it,” he said. But for now, his focus is on calming Tesla investors and keeping the company on track.
FAQs
Q: Is Elon Musk really staying CEO of Tesla for five more years?
A: Yes, Musk confirmed he’s staying on to maintain control and guide Tesla’s future.
Q: Why is Musk reducing political donations?
A: Musk said he’s “done enough” after spending hundreds of millions on the 2024 elections and facing backlash.
Q: Will he completely stop political involvement?
A: Not entirely. Musk said he’ll consider political spending again if he sees a reason to reengage.
