Musk says he is committed to being Tesla CEO for next five years
Elon Musk said he's committed to leading Tesla as chief executive officer (CEO) in five years' time, easing the concerns of some investors wary about his level of commitment to the carmaker.
Mr Musk, 53, commented on his future at Tesla during a remote appearance Tuesday at the Qatar Economic Forum in Doha. While he criticised a Delaware Chancery Court judge who's twice ruled against the massive pay package the company awarded him in 2018, he said he doubted the issue will affect his decision to stay.
'The compensation should match that something incredible was done,' Mr Musk said. 'But I'm confident that whatever some activist posing as a judge in Delaware happens to do will not affect the future compensation.'
Musk has been CEO of Tesla since 2008, one of the longest active stints among top executives of the world's major automakers. His level of engagement with the business has come under greater scrutiny as the company follows up its first annual drop in vehicle sales in over a decade with steeper declines early this year.
READ MORE
Tesla shares jumped after Musk's comments, trading up more than 3.6 per cent in intraday trading before paring gains. The stock has declined 15 per cent this year. – Bloomberg
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Irish Times
6 hours ago
- Irish Times
Drivers put a brake on Tesla sales,
Irish drivers have put a brake on buying Tesla electric cars, says The Sunday Times. The company run by billionaire Elon Musk, whose split with US president, Donald Trump, dominated headlines this week, has suffered a 13 per cent drop in Irish sales so far this year. Chinese rival BYD has overtaken Tesla, increasing its sales by 48 per cent, the newspaper reports. 'In Ireland Tesla's year got off to a good start with sale of his cars doubling year on year in early 2025, driven by the arrival of the cheaper Tesla Model 3,' it says. 'But sales plunged by 62 per cent last month.' READ MORE Housing policy chasing developers away Government policy is driving investment in housing to other countries, according to the Sunday Independent. Developers including Claire Solon, managing director of the Irish arm of international player, Greystar, tells the newspaper that the Government needs to tackle 'planning, infrastructure, rent caps and viability'. The company warns that 'problematic policy changes' are pushing housing investment to other countries. Michael O'Flynn, chief executive of O'Flynn Group, says additional taxes on the building industry in the middle of a housing crisis are 'actually holding back the delivery of new homes'. He maintains that the residential zoned land tax has become a development tax. Hotelier's Heathrow runway pitch Billionaire hotelier, Surinder Arora is joining forces with US engineering giant Bechtel, to pitch an alternative third runway plan for London's Heathrow airport , reports The Sunday Telegraph. Mike Kane, Britain's aviation minister, says the country's government is open to alternative bids for the hub's third runway. Mr Arora told the newspaper that his bid could no doubt 'build it cheaper than Heathrow airport Ltd'. The hotels mogul previously led an alternative bid in 2018, saying he could do it one third cheaper than the airport company. Renewables' biogas call Renewables developer Bia Energy says data centres and large energy users should be obliged to use biogas to aid kick-starting the industry here, the Business Post writes. The firm, backed by businessman Eamon Waters, who sold Panda Recycling to Macquarie Infrastructure Fund for €1.2 billion, warns that the Government will not meet its climate plan biogas targets. Bia Energy is calling for a 'renewable heat obligation policy' which legally binds large energy users, such as data centres and pharmaceutical manufacturers, to buy renewable energy. The Republic faces penalties of up to €28 billion by 2030 if it fails to cut greenhouse gas emissions by 51 per cent.
The Irish Sun
9 hours ago
- The Irish Sun
Elon Musk has PTSD & made a MISTAKE by helping Trump, his dad claims as he reveals verdict on what caused explosive feud
ELON Musk has "White House PTSD" and thinks he made a mistake by helping Trump get reelected, his dad has claimed. 9 Errol Musk claims his son Elon has 'PTSD from the White House' Credit: East2West 9 Musk Snr also believes the Tesla boss regrets helping Trump get reelected Credit: Reuters 9 Errol is currently in Moscow to appear at a Kremlin-backed forum Credit: East2West 9 Elon reportedly donated $288 million to Trump's 2024 campaign Credit: AFP It comes just days after his billionaire son's high-profile alliance with the US President imploded in a fierce online feud. The world's richest man — who reportedly donated $288 million to Trump's 2024 campaign and briefly served as a White House aide — has now turned on the president over his sweeping tax and spending bill. Elon even claimed on X that Trump was tied to disgraced paedophile Jeffrey Epstein, Their bromance is now beyond repair. Read more on Elon and Trump On Sunday, Trump confirmed to NBC that he has no interest in making amends: 'I would assume so, yeah,' he said when asked if their relationship was over. 'I have no intention of speaking to him.' Now, the Tesla and SpaceX boss is said to be grappling with regret and fatigue from his turbulent stint in Washington. Musk Snr told Putin-controlled media: 'So at the moment, Elon is inclined to say that he's made a mistake.' 'Trump will prevail. He's the president, he was elected as the president. Most read in The US Sun 'Elon made a mistake, I think, but he's tired, he's stressed. He added: 'Five months of continuous stress, continuous, continuous stress, stress, stress. Trump crushes 'peace talk' hopes with Musk as he insists Elon has 'lost his mind' and 'vows to get rid of his Tesla' 'And then in the end, it's just him and Trump left… They still don't know what to do, so they fight with each other until they can come to normal conditions.' The South African businessman likened the split to a "marriage going wrong" and suggested his son was out of depth in the brutal political arena. He told Russian outlet Izvestia: 'It happens in marriages, it happens in partnerships, it happens a lot . 'And people have to understand that at the moment, Elon is having second thoughts... 'He's not a great politician, he is still learning, he's a great tech innovator and so forth. 'But his politics is, as I've said before, is a swimming pool with no bottom, it's a swimming pool with no sides. 'When you're in a swimming pool of politics, you've got to really know where to go. 'And he [Elon] doesn't realise that.' 9 Errol made the explosive claims on Putin-controlled media in Russia Credit: East2West 9 He said his son had a very stressful five months Credit: East2West Errol added that Elon had been trying to "get everything right" with a recent bill, but clashed with Trump over what he saw as excessive Democratic spending concessions. 'But unfortunately, he doesn't realise that in order to get their votes in the Senate and the Congress, Trump has to do that,' he said. 'They are the only two people left in the arena… and they took to each other, which is understandable.' Errol's comments were made to Tsargrad TV — owned by Konstantin Malofeev, a businessman with alleged links to Russian military intelligence. He praised Moscow, saying: 'Whoever designed this city is a true genius. These majestic buildings remind me of Ancient Rome.' He also dismissed Western portrayals of the Russian capital as 'nonsense.' 9 Trump and Musk's bromance fell through in a spectacular public feud online Credit: AFP 9 The feud erupted over Trump's 'big, beautiful bill,' which proposed stripping billions in government subsidies from Tesla Credit: AP Errol will speak at the Future Forum 2050, organised by Malofeev and Putin ideologist and 'philosopher' Alexander Dugin. Meanwhile, Russia appears eager to capitalize on Musk's estrangement from the US political elite. Putin crony Dmitry Medvedev cheekily offered to mediate peace talks between 'D and E' — Trump and Elon— 'for a reasonable fee and to accept Starlink shares as payment.' Another Kremlin loyalist, ex-space chief Dmitry Rogozin, publicly offered Musk asylum. 'You are respected in Russia. If you encounter insurmountable problems in the US, come to us and become one of us,' Rogozin wrote. Russia would offer him 'reliable comrades and complete freedom of technical creativity'. 9
Irish Times
9 hours ago
- Irish Times
Trump-Musk feud shows president knows how to hit a narcissist where it hurts
Sometimes you're better off letting the children fight. That was president Donald Trump 's callous wisdom on looking the other way as the Russians and Ukrainians continue to kill each other. But it might better be applied to Trump's social media spat with Elon Musk . It's hard to think of two puer aeterni who are more deserving of a verbal walloping. Their venomous digital smackdown fulgurated on their duelling social media companies, flashing across the Washington sky. In March, Trump showed off Teslas in the White House driveway and bought a more-than-$80,000 red Model S. Now, he says he's going to sell it. READ MORE Thursday was the most titillating day here since the sci-fi classic The Day the Earth Stood Still, when a spaceship landed an alien to warn human leaders to stop squabbling like children, or the aliens would destroy Earth. On Friday, Trump tried to convey serenity. 'I'm not thinking about Elon Musk,' Trump said aboard Air Force One. 'I wish him well.' But Trump then jumped on the phone to knock Musk, telling ABC's Jonathan Karl that Musk has 'lost his mind' and CNN's Dana Bash that 'the poor guy's got a problem.' Trump had to know that would be seen as a reference to the intense drug use by Musk chronicled by the New York Times. As Raheem Kassam, one of the owners of Butterworth's, the new Trumpworld boîte on Capitol Hill, assured Politico, 'Maga will not sell out to ketamine.' [ Keith Duggan: Trump-Musk bromance descends into a jaw-dropping feud that is funny, dismal and nauseating Opens in new window ] The Washington Post reported on Friday: 'Across the government, the Trump administration is scrambling to rehire many federal employees dismissed under Doge's staff-slashing initiatives after wiping out entire offices, in some cases imperilling key services such as weather forecasting and the drug approval process.' On Truth Social on Thursday, Trump threatened to take away government contracts that have handsomely enriched Musk even though, as Leon Panetta pointed out on CNN, 'some of those contracts, particularly on SpaceX, are very important to our national security.' Musk tried to tie Trump to Jeffrey Epstein, offering no evidence. He shared a post on Epstein that said Trump should be impeached. Trump reposted a message from Epstein's last lawyer, saying the smear was 'definitively' not true. Musk deleted the post on Saturday. Musk did, however, expose Trump and Republican lawmakers as hypocrites, using his online bullhorn to shame them about their broken promises to reduce the debt. The big domestic Bill is a dog's breakfast of Republican proposals that could add more than $3 trillion to the debt to make the rich richer, while cutting healthcare coverage for the poor. Republicans are the ones who always claim they're fiscally responsible, even while they keep exploding the debt. Musk reposted Trump's old tweets on the social platform X, such as this one from 2012: 'No member of Congress should be eligible for re-election if our country's budget is not balanced – deficits not allowed!' Musk sneered: 'Where is the man who wrote these words? Was he replaced by a body double!?' As the weekend began, Trump seemed to be winning the fight, as Musk grew quieter and Fox News commentators had pleaded with their parents to get back together. Trump has exposed Musk's naive streak – something I saw in 2017 when I reported that another tech lord had to explain to Musk that he couldn't get away from artificial intelligence by going to Mars; it would just follow him there. Just because Musk hung in the Oval and Mar-a-Lago and debated moving into the Lincoln Bedroom, it didn't mean he understood politics or power – or Trump. Trump didn't care about the potential conflict of interest in having the SpaceX chief pick the head of Nasa. But he did care that Musk's candidate had donated to top Democrats – and about the aborted plan for Musk to attend a briefing about military strategy against China at the Pentagon, and about Musk's barbed public trashing of Trump's 'beautiful' tariffs and 'beautiful' Bill. When I studied Mary Shelley's Frankenstein in graduate school, I was struck by how much the 1818 novel by a teenage girl reminded me of the bros in Silicon Valley. The brilliant scientists with their edgy experiments, too high on their own supply to consider the ramifications of AI. What if your creation grows stronger than you and comes back to haunt you? Musk posted that Trump was ungrateful because the nearly $300 million he spent on Republicans is what made Trump president. Musk created the monster! But Trump created a monster, too. He gave Musk free rein and enormous power over a world he knew nothing about and people for whom he had no empathy. And in the end, of course, Musk's demon mode came out and Trump's monster turned on him. 'Elon was 'wearing thin,'' Trump acidly posted, knowing how to hit a narcissist where it hurts. 'I asked him to leave, I took away his EV Mandate that forced everyone to buy Electric Cars that nobody else wanted (that he knew for months I was going to do!), and he just went CRAZY!' For all his macho swagger, Trump sure loves a catfight. – This article originally appeared in The New York Times .
