Billionaire Elon Musk officially withdraws from politics, focusing all his attention on Tesla?

On April 20, speaking at an event in Doha (Qatar), billionaire Elon Musk said he still intends to be Tesla CEO for at least 5 more years "unless he dies".

"Yes, absolutely," Elon Musk said when asked if he planned to stay on as Tesla's CEO, putting to rest speculation that he might be replaced soon.

In late April, the WSJ reported that the electric car company's board of directors had contacted several recruiting firms to find a successor to Elon Musk. The WSJ said the reason was because Tesla was concerned that billionaire Musk was busy with the work of the Office of Government Efficiency (DOGE) and the company's business situation was also declining in the first quarter of 2025.

Billionaire Elon Musk later denied the information, calling the posts "false" and "unethical." Tesla Chairwoman Robyn Denholm also said the news was "completely false" and expressed confidence in Musk's leadership.

US President Donald Trump and billionaire Elon Musk (Photo: Reuters).

However, this information still makes analysts and investors argue about billionaire Musk's commitment to the electric car company, when this billionaire takes on many jobs at the same time.

In Doha, Elon Musk continued to reassure his supporters. He commented that Tesla "turned the tide" and pointed out that Europe is the company's weakest market at the moment, while other markets are still "strong". He said that "a lot of people buy Teslas just because Elon Musk is crazy".

Elon Musk is now Tesla’s largest individual shareholder. Last quarter, the electric carmaker’s revenue fell 9% year-over-year to $19.33 billion. Net income fell 71% to $409 million. Revenue from the car division alone fell 20% to $14 billion. Deliveries fell 13%. Tesla’s stock has also lost 15% year-to-date.

Regarding his political activities, billionaire Musk said he would "reduce" his political spending in the future and affirmed "I think I've done enough".

According to Reuters, Mr. Musk's comments could have a major impact on next year's US midterm elections because the billionaire is a major political donor to the Republican Party. The billionaire helped Mr. Donald Trump win the US presidency with a donation of about $250 million.

Source: https://dantri.com.vn/kinh-doanh/ty-phu-elon-musk-chinh-thuc-rut-khoi-chinh-truong-don-toan-tam-cho-tesla-20250521102108927.htm