Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.

Elon Musk said he’s committed to still leading Tesla Inc. five years from now and expects to pare back his political spending, assuaging some investors’ concerns about the future of his most valuable company.

The billionaire offered new details about his plans in a wide-ranging interview with Bloomberg News that also touched on his compensation, Tesla’s sliding sales and a possible spinoff of SpaceX’s Starlink satellite business. Musk repeated his criticisms of a familiar cast of characters, from Bill Gates to the Delaware judge who’s twice ruled against his massive Tesla pay package.

Musk, whose $375.5 billion fortune leads the Bloomberg Billionaires Index, reiterated that he wants to own more shares of Tesla for reasons of authority, rather than wealth.

“It’s not a money thing,” he said during a remote appearance Tuesday at the Qatar Economic Forum in Doha. “It’s a reasonable control thing, over the future of the company.”

Musk has been chief executive officer of Tesla since 2008, one of the longest active stints atop the world’s largest automakers. His level of engagement with the company has come under greater scrutiny as the carmaker has followed up its first annual sales drop in over a decade with steeper declines early this year.

Musk, 53, downplayed the extent of Tesla’s challenges, saying that “it’s already turned around.” When pressed about this — the carmaker’s vehicle sales continued to plunge across Europe’s biggest electric vehicle markets in April — the CEO said that the region is the company’s weakest, but that it’s strong elsewhere.

Today's show features:
Bloomberg News Senior Reporter Max Chafkin on Elon Musk’s Qatar Economic Forum interview
Siyu Huang, Co-Founder and Chief Executive Officer of Factorial Energy
Bloomberg News National Security Team Leader Nick Wadhams
Bloomberg News Senior Editor, Equities Americas Eric Weiner

See omnystudio.com/listener for privacy information.

Bloomberg News Wealth Reporter Annie Massa speaks on Dominari, the tiny investment bank that, less than three years ago, pivoted from developing cancer therapies into finance. Since then it has lost about $70 million.
For years its shifting priorities and tribulations remained largely out of the spotlight. That changed when it gained two recognizable backers: Donald Trump Jr. and Eric Trump.

See omnystudio.com/listener for privacy information.

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.

The US was stripped of its last top credit rating by Moody’s Ratings, reflecting deepening concern that ballooning debt and deficits will damage America’s standing as the preeminent destination for global capital and increase the government’s borrowing costs.

Moody’s lowered the US credit score to Aa1 from Aaa on Friday, joining Fitch Ratings and S&P Global Ratings in grading the world’s biggest economy below the top, triple-A position. The one-notch cut comes more than a year after Moody’s changed its outlook on the US rating to negative. The credit assessor now has a stable outlook.
“While we recognize the US’ significant economic and financial strengths, we believe these no longer fully counterbalance the decline in fiscal metrics,” Moody’s wrote in a statement. Moody’s blamed successive administrations and Congress for swelling budget deficits that it said show little sign of abating. On Friday lawmakers in Washington continued to work towards a massive tax-and-spending bill that’s expected to add trillions to the federal debt over the coming years.
Today's show features:

• Bloomberg News Rates Reporter Michael Mackenzie on Bond market reaction to Moody's Downgrade
• Nick Wadhams, Bloomberg National Security Team Leader, on Trump Says Ukraine, Russia to Start Ceasefire Talks Immediately
• Mark Gurman, Bloomberg News Managing Editor for Global Consumer Tech, on Bloomberg Big take story: Apple Is Spending Billions and Still Hasn't Managed to Crack AI
• and we Drive to the Close with Ryan Detrick, Chief Market Strategist at the Carson Group

See omnystudio.com/listener for privacy information.