Elon Musk Commits to Tesla CEO Role for Five Years, Plans Political Spending Cut

Elon Musk has reaffirmed his commitment to remain CEO of Tesla for at least the next five years, dismissing speculation about stepping down despite Tesla's recent sales declines, especially in Europe. Speaking at the Qatar Economic Forum, Musk emphasized that his continued leadership is contingent on maintaining reasonable control of the company and downplayed the impact of his political activities on Tesla's brand and sales. He also indicated plans to significantly reduce his political spending, stating he has "done enough" in this arena, though he left open the possibility of future contributions if needed. Musk criticized legal challenges to his 2018 compensation package and reiterated his desire to acquire more Tesla shares to strengthen his authority over the company rather than for wealth accumulation. Tesla shares experienced a modest boost following Musk's statements, though analysts remain divided on the stock's outlook, with a consensus rating of "Hold" and an average price target suggesting downside risk. Despite pressures and rumors of a CEO search, Tesla and Musk denied any plans for a leadership change, reinforcing Musk's central role amid ongoing company challenges.