Elon Musk keeps Tesla, but wants to leave politics

Elon Musk, one of the world's most influential entrepreneurs, announced that he will continue to lead Tesla for at least another five years. In his comments to Bloomberg, he made an important statement about the future of the company and its political activities. After this statement by the billionaire, Tesla shares rose by 3.6%.

Musk said that he intends to move away from politics and focus on business. This was especially true at a time when he has been in the public eye for several months due to his position in the DOGE - Department of Government Efficiency - in the administration of US President Donald Trump. Musk's radical reforms in this department, in particular, the mass dismissal of civil servants, have caused a lot of discussion.

In order to limit political activity, Musk announced that he has reduced his work at the White House to one or two days a week. White House officials also confirmed that Musk is working mainly remotely.

The businessman said he holds Tesla shares not to accumulate wealth, but to maintain strategic control over the company. “It’s not about money, it’s about responsibility,” he said.

According to Bloomberg, Musk’s total wealth is $376 billion. He has been Tesla’s CEO since 2008 and is one of the company’s largest shareholders, owning a 13 percent stake. At one point, Tesla shares rose to $488.54, making Musk the first person to be worth $400 billion. But recently, the stock price has fallen by as much as 50 percent.

Meanwhile, The Wall Street Journal reported that Tesla’s board of directors has begun searching for a new CEO to replace Musk. According to reports, board members are in talks with several major companies. However, Musk has not expressed any objections to this and has stated that he is ready to continue working for the company.

Zamin.uz editorial team will continue to closely monitor Elon Musk's future strategic decisions and changes at Tesla. How do you assess Musk's departure from politics? Is it the right step for business stability? Read 'Zamin' on Telegram!