Musk: "I Will Lead Tesla for the Next 5 Years"... Political Donations to Be Significantly Reduced

Attending the Qatar Economic Forum
"Securing sufficient voting rights... Reasonable control over the company's future"

Elon Musk, CEO of Tesla, pledged on May 20 (local time) that he would lead the company for the next five years. He also stated his intention to significantly reduce political donations going forward.

During a virtual interview at the Qatar Economic Forum, Musk was asked whether he expected to remain Tesla's CEO five years from now. He responded, "Yes. There is absolutely no doubt about it."

This statement comes amid growing skepticism among some investors regarding Musk's commitment to Tesla.

He also expressed his desire to secure "sufficient voting rights" to avoid being ousted by activist investors while maintaining his position as Tesla's CEO. Musk said, "It's not a matter of money; it's about whether I can reasonably control the company's future," indicating his determination to prevent activist investors from influencing corporate governance or management activities.

Musk, who played a pivotal role in Donald Trump's election as President of the United States and is known as his "first buddy," also revealed his intention to reduce political donations in the future.

He said, "Political spending will be much lower going forward," adding, "I think I've done enough." He continued, "If there is a reason to spend political funds in the future, I will do so," but emphasized, "At present, there is no such reason."

As Musk rose to become one of Trump's closest associates and became actively involved in politics, public backlash against Tesla intensified. In particular, after Musk took on the role of head of the Department of Government Efficiency (DOGE), leading federal workforce and cost reduction efforts and expanding his political influence, boycott movements against Tesla emerged in the United States and Europe.

As of 11:06 a.m. Eastern Time on this day, Tesla's stock price was up 1.01% from the previous day, trading at $345.56 per share.