Elon Musk is reaffirming his commitment to leading Tesla, telling investors and critics alike that he has no plans to step away from the electric vehicle maker anytime soon — despite a rocky stretch for the company of late.
Speaking remotely at Bloomberg’s Qatar Economic Forum on Tuesday, Musk said he expects to remain Tesla’s chief executive for at least another five years, even as his leadership has come under renewed scrutiny amid falling sales and public backlash.
Musk told the gathering that he wants to own more shares of the company in order to hold greater sway in key decisions.
“It’s not a money thing,” Musk said. “It’s a reasonable control thing, over the future of the company.”
The billionaire entrepreneur, who has held the top job at Tesla since 2008, made the remarks as Tesla grapples with its first annual decline in vehicle deliveries in over a decade — a slide that has continued into 2025.
Still, Musk dismissed concerns that the company is in serious trouble.
“It’s already turned around,” he said.
Musk acknowledged that Tesla’s performance in Europe has been particularly weak but maintained that the company is doing well elsewhere.
“Our sales are doing well at this point,” he said. “We don’t anticipate any meaningful sales shortfall.”
Tesla stock rose as much as 3.6% following his comments before trimming gains. Shares are still down 14% for the year.
Musk also downplayed criticism that his personal views and political activity have tarnished Tesla’s brand, particularly among left-leaning consumers.
He argued that while the company may have lost support from some quarters, it has gained new fans from the political right.
He also condemned activists who have targeted Tesla’s vehicles and showrooms in protest, describing them as violent and dangerous.
“They’re on the wrong side of history, and that’s an evil thing to do,” Musk said. “Something needs to be done about them, and a number of them are going to prison, and they deserve it.”
His latest remarks come as Tesla continues to appeal a court ruling in Delaware that struck down Musk’s massive pay package. Musk lashed out at Judge Kathaleen McCormick, who issued the decision, calling her “the activist who is cosplaying as a judge in a Halloween costume.”
The company’s board has since formed a special committee to reexamine his compensation plan.
When asked about his political spending heading into the 2026 midterms, Musk indicated he plans to scale back his involvement.
“I think I’ve done enough,” he said. But he left the door open to future contributions, adding, “If I see a reason to do political spending in the future, I will do it. I do not currently see a reason.”
Despite a turbulent year marked by falling deliveries, shareholder lawsuits, and mounting political controversy, Musk’s message to investors was clear: he’s not going anywhere.
Credit: Source link
