Elon Musk Confirms He Will Remain Tesla CEO Through at Least 2030
Press Hub UCapital
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At the Bloomberg Qatar Economic Forum held in Abu Dhabi, Elon Musk reaffirmed his commitment to leading Tesla, dismissing investor concerns about his long-term involvement. “There is no doubt,” he stated, assuring he will continue as CEO for at least the next five years.
This statement comes at a sensitive time, following reports that Tesla’s board had begun searching for a potential successor amid worries over Musk’s growing focus on politics and other external projects.
During his remarks, Musk also sought to reassure markets about sales performance: despite a weak first quarter, he explained that demand has already stabilized. “We’ve lost customers on one side and gained others on the other,” he said, attributing fluctuations to political divisions. He added that solid results are confirmed by Tesla’s stock performance, which “would not be near all-time highs if there were serious problems.”
His comments had an immediate market impact: Tesla shares initially jumped more than 3.6% on Nasdaq before closing with a smaller gain (+1.2%).
Despite the rebound, the stock has fallen over 12% since the start of the year. This decline also reflects the consequences of Musk’s increased political exposure. After Donald Trump’s presidential victory, Tesla’s founder was appointed head of the new Department of Government Efficiency, a role that made him a target of criticism and protests, with repercussions for Tesla’s image.
However, Musk now seems intent on scaling back his political involvement: “I think I’ve done enough. Going forward, I will be less active politically unless there are valid reasons to step back in,” he said.
The interview also touched on SpaceX, Musk’s aerospace company, which is rapidly expanding thanks to a steady launch cadence. Musk said SpaceX will soon be responsible for about 80% of active satellites in orbit, largely due to its Starlink service. Regarding Starlink, he opened the door to a possible future IPO but stressed there is no rush. He also ruled out any entry of SpaceX into the military drone sector: “We don’t produce armed drones. We focus on rockets, satellites, and internet terminals.”
This statement comes at a sensitive time, following reports that Tesla’s board had begun searching for a potential successor amid worries over Musk’s growing focus on politics and other external projects.
During his remarks, Musk also sought to reassure markets about sales performance: despite a weak first quarter, he explained that demand has already stabilized. “We’ve lost customers on one side and gained others on the other,” he said, attributing fluctuations to political divisions. He added that solid results are confirmed by Tesla’s stock performance, which “would not be near all-time highs if there were serious problems.”
His comments had an immediate market impact: Tesla shares initially jumped more than 3.6% on Nasdaq before closing with a smaller gain (+1.2%).
Despite the rebound, the stock has fallen over 12% since the start of the year. This decline also reflects the consequences of Musk’s increased political exposure. After Donald Trump’s presidential victory, Tesla’s founder was appointed head of the new Department of Government Efficiency, a role that made him a target of criticism and protests, with repercussions for Tesla’s image.
However, Musk now seems intent on scaling back his political involvement: “I think I’ve done enough. Going forward, I will be less active politically unless there are valid reasons to step back in,” he said.
The interview also touched on SpaceX, Musk’s aerospace company, which is rapidly expanding thanks to a steady launch cadence. Musk said SpaceX will soon be responsible for about 80% of active satellites in orbit, largely due to its Starlink service. Regarding Starlink, he opened the door to a possible future IPO but stressed there is no rush. He also ruled out any entry of SpaceX into the military drone sector: “We don’t produce armed drones. We focus on rockets, satellites, and internet terminals.”