Tesla CEO Elon Musk declared that he will remain in his leadership position at the company for at least another five years. At the 2025 Qatar Economic Forum, Musk discussed why he got involved politically and explained why he gave money to Donald Trump's re-election campaign. Even with earlier fluctuations in the stock market and boycotts, Musk told investors and everyone else that Tesla's performance has rebounded.
Musk noted that Tesla's market value has exceeded $1 trillion after going down earlier in the year. He said the rebound was due to the company's strong performance worldwide. After protests and a dip in sales because Musk participated in workforce talks, the company is now seeing better results. Some critics claimed that linking him to a political party could ruin Tesla's reputation.
Musk said he would no longer donate as much to political campaigns after the controversy over his $270 million contribution to Trump. "Moving forward, I plan to decrease the amount of political spending," he explained during the forum. Although he did not say he was definitely ending his association with politics, he accepted that, like many others, he felt it was time to reevaluate his actions and financial spending.
Musk discussed the Delaware court ruling that froze $56 billion worth of compensation. He accused Chancellor Kathaleen McCormick of making a political decision based on her ruling. Musk once again stressed that he wants to retain control over Tesla and the company's new ventures, including robotics. His point was, "We don't need more money; we want to keep control over the company in the long run."
Musk answered directly when asked if Tesla would suffer from political reactions against him. To the question about continuing as CEO for the next five years, he said he would without a doubt. He joked about recent rumors by saying, "I can't be in this job if I'm dead."
At the end, Musk discussed the threats and protests his businesses have experienced. The former President made it clear that he won't condone violence and that he cannot be discouraged by those opposing him. His guidance today steers Tesla toward growth, the introduction of new products, and building up the company to avoid outside control by activist investors.