Musk has no plans to leave Tesla, wants to stay for another five years

Elon Musk has stated his intention to remain at the helm of Tesla for the next five years. Speaking at a Bloomberg event, Musk emphasized his desire to maintain influence over the company to prevent activist shareholders from taking control. According to Hans Oudhoorn, an investment trainer at Saxo, Musk is reacting to a board that reportedly prefers him 'poor rather than rich.' 'They are undermining his position, and he wants to push back,' Oudhoorn said.

Musk also addressed concerns about Tesla's disappointing sales figures, which some attribute to his political activities. As an advisor to former U.S. President Donald Trump, Musk has made controversial cuts to government agencies, leading to boycotts and 'Tesla shame' among some owners.

Analysts, Musk argued, focus too much on weak European sales, while other regions show growth. Oudhoorn believes Musk is deflecting, as internal pressures mount. 'Musk has a major fire to put out,' he added.

Reports from The Wall Street Journal suggest Tesla's board is quietly seeking a replacement CEO. Oudhoorn speculates Musk's statements are a response to these rumors. 'Behind the scenes, tough conversations are happening, and heads may roll.'

Despite the turmoil, Tesla's market value remains high. 'Investors trust Musk to refocus on what he does best, but confidence is fragile,' Oudhoorn noted. 'Hence, Musk talks about five years.'

To regain popularity, Oudhoorn suggests Musk make an uncharacteristic apology. 'Traditional Tesla buyers—more left-leaning and progressive—are done with him for now.'