Elon Musk, billionaire entrepreneur and CEO Tesla, revealed plans to drastically reduce his political expenses. Musk, known for his hefty gifts, reportedly contributed to Republican – allegedly contributed to $ 250 million during the presidential campaign Donald Trump in 2016 that he plans to reduce his political contributions.
“As far as political expenses are concerned, I will do much less in the future. I think I have done enough,” Musk said, signaling a shift in focus from political influence.
His close links to Trump’s administration, in particular by the Ministry of Effectiveness (DOGE), raised questions about his priorities.
He confirmed his obligation to stay for at least the next five years of Tesla CEO.
Musk on Tuesday at the Economic Forum in Qatar dealt with concerns about the balance of his political involvement with his leadership on the giant of an electric vehicle.
A fixed commitment to Tesla’s leadership
Musk dealt with speculation about his term in Tesla and emphasized his determination to remain as CEO. “Having a reasonable control over Tesla was the most important factor in staying as CEO,” he said. Musk currently owns about 13% of Tesla shares.
Asked directly to his future, Musk was unambiguous: “Yes, there is no doubt at all.”
Last year, Musk revealed discomfort, saying that he did not have at least 25% control of the vote in Tesla, especially when he tried to expand the company’s management in AI and Robotice.
Challenges of Tesla and market challenges
Musk emphasized the recent improvement of Tesla’s sales outside Europe, where the company faced protests associated with its political views and Trump’s confirmation.
Tesla showed a 13% decline in the first quarter of the supplies and some investors expect another annual decline in 2025 due to political resistance and delay, as customers are expecting cheaper versions of the revised transition of the Y model.
Tesla’s shares initially jumped by 3.3%after Muska’s comments, but later settled by about 1%, while shares per year by 15%.
Other businesses: SpaceX, Starlink and Xai
Musk also discussed the Starlink satellite internet service, which can be published in the future. Starlink operates in more than 70 countries and its aim is to further expand to developing markets such as India.
As for the regulation of artificial intelligence, Musk advocated some supervision in the US, but warned against excessive regulation. In 2023 he founded AI Company XAI to compete in the generative space AI.
XAI invests considerable amount in the data center capacity and recently introduced “Colossus”, a supercomputer cluster in Memphis, Tennessee, offered as the largest in the world.
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