Musk says he's committed to being Tesla CEO 5 years from now
Elon Musk confirmed on Tuesday he is committed to being Tesla CEO five years from now as the tech billionaire faces scrutiny over how he balances his time between his businesses and leading President Trump's cost-cutting initiative.
When asked during a virtual appearance at the Qatar Economic Forum whether he sees himself being the CEO of the electric vehicle manufacturer in five years' time, Musk replied "Yes."
The moderator followed up, "No doubt about that at all," to which the key Trump adviser jokingly replied, "I can't still be here if I'm dead."
Telsa became a political lightning rod earlier this year as protestors took out their frustrations over Musk and Trump's so-called Department of Government Efficiency on Tesla. Protests unfolded at company dealerships across the country and while most were peaceful, a few turned violent.
Tesla reported a 71-percent plunge in its first-quarter earnings, while its revenue fell 9 percent to $19.3 billion.
During the company's first-quarter earnings call last month, Musk tried to assure investors he plans to reduce his time spent on DOGE by the end of this month. The tech leader's special government status is set to end May 30.
After about three months of leading the DOGE efforts, Musk said the “major work” of establishing the commission is done, giving him the ability to shift his time to Tesla. The group drove mass layoffs at federal agencies and program spending cuts.
Musk was pressed on Tuesday on whether the backlash has made him rethink his political involvement.
After a few moments of pause, he said, "I did what needed to be done."
"I’m not someone who has ever committed violence and yet massive violence was committed against my companies, massive violence was threatened against me," the billionaire continued, adding, "Don't worry. We're coming for you."
Musk, also the CEO of SpaceX and owner of social platform X, added that he plans to pull back on his political spending after giving millions of dollars into the 2024 presidential election and other down ballot campaigns.
The decision, he noted, came because he feels "I've done enough" but left the door open for future spending.
“In terms of political spending, I’m going to do a lot less in the future,” the Tesla CEO said, adding, "If I see a reason to do political spending in the future, I will do it. I do not currently see a reason.”
Musk poured more than $250 million into Trump's election bid. His spending continued into this year, with his America PAC investing more than $12 million into the Wisconsin Supreme Court race last month.
The Associated Press contributed reporting.