Elon Musk has reiterated his commitment to serving as Tesla’s chief executive for a minimum of five years, amidst growing scrutiny from consumers and the stock market regarding his collaboration with the Trump administration.
The world’s richest man has announced his intention to scale back on political contributions following his strong support for the US president in the previous year.
During a virtual session at the Qatar Economic Forum organized by Bloomberg, a moderator inquired: «Do you envision yourself continuing as the CEO of Tesla in five years?»
To which Musk replied: «Yes.»
When the moderator pressed further by asking, «No doubts about that?»
Musk humorously responded, «I can’t remain here if I’m deceased.»
Tesla has faced backlash due to Musk’s association with Mr. Trump through his Department of Government Efficiency (DOGE), which implemented cost reductions across the US federal government.
When questioned if the backlash made him reconsider his political involvement, Musk stated: «I did what was necessary.
«I have never resorted to violence, yet my companies faced significant violence, and threats of violence were directed towards me.»
He concluded with a bold statement: «Don’t fret: We’re on our way.»
Musk allocated at least 250 million dollars (£187m) towards supporting Mr. Trump in the presidential campaign, even organizing some campaign rallies of his own.
«I intend to reduce my political contributions in the future,» mentioned Musk. When asked why, he responded: «I believe I’ve made a significant contribution.»
Furthermore, he stated: «If there arises a need for political spending in the future, I will consider it. However, at present, I see no such necessity.»
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This development follows a halt on a Tesla pay package that Musk was entitled to, previously valued at $56bn (£41.8bn) by a Delaware judge.
Musk referred to Chancellor Kathaleen St Jude McCormick as an «activist masquerading as a judge in a Halloween costume.»
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Musk acknowledged that his Tesla compensation played a role in his decision to continue with Tesla, emphasizing the importance of having «adequate voting control» to prevent removal by activist investors.
«It’s not about money, it’s about having reasonable control over the company’s future, particularly as we embark on the potential development of millions, even billions, of humanoid robots,» he elaborated.