Elon Musk said he expects to remain Tesla’s chief executive for at least the next five years, and is seeking to raise his ownership stake in the electric vehicle maker to about 25% to safeguard his control over the company’s strategic direction.
Speaking via video link at the Qatar Economic Forum in Doha this week, Musk addressed recent speculation about his future at Tesla amid shareholder concerns over his political involvement and expanding commitments outside the company.
“I have no doubt I will remain CEO for at least the next five years, unless I die,” Musk said, dismissing recent reports suggesting Tesla’s board had explored potential replacements over concerns he was spending increasing time in Washington.
Musk currently owns about 12.77% of Tesla, a stake worth more than $140 billion. During a separate interview, he said his push for a larger stake is aimed at securing a balance of control that still leaves room for accountability. “It’s not a money thing,” Musk explained. “It’s a reasonable control thing over the future of the company. That’s the number I’d feel comfortable at, because that’s where I have some control, but not so much control that I can’t be thrown out, [unless] I’m destroying the value of the company or if I’ve just gone flat-out crazy.”
His comments follow reports that some board members had recently approached executive search firms to explore succession options, amid concerns that Musk’s political activities—particularly his support for former President Donald Trump—could prove a distraction.
Musk also addressed his past political donations, saying he does not currently plan to continue large-scale political spending. “If I see a reason to do political spending in the future, I will do it,” he said. “I do not currently see a reason.”