Tesla CEO Elon Musk’s high-profile support for Donald Trump’s 2024 presidential campaign may be doing more harm than good, according to a recent Yahoo Finance survey. Musk, set to invest over $100 million in Trump’s campaign and leading a targeted effort in Pennsylvania to rally undecided swing voters, could inadvertently hurt Trump’s appeal among key voting groups.
The survey, which polled over 4,000 Yahoo Finance users, found that Musk’s endorsement may reduce support for Trump. Among all respondents, 25% said Musk’s involvement made them more likely to vote for Trump, while 28% said it made them less likely — a net loss of 3 percentage points. Additionally, 46% of respondents indicated Musk’s endorsement would not affect their vote either way.
The sentiment was more pronounced among undecided voters, with 21% stating Musk’s support made them more inclined to vote for Trump, but 28% saying it made them less likely, representing a 7-point deficit among the swing voters analysts say could decide the election.
Although this survey was not randomized and Yahoo Finance’s audience skews wealthier, older, and more educated than the general population, it offers insights from a significant sample of investors — including Tesla shareholders — who closely follow Musk’s career and influence across Tesla, SpaceX, and the social media platform X (formerly Twitter).
Similar trends appear in other surveys. Polling by Democratic group Blueprint found that among men aged 18 to 29, Musk’s endorsement of Trump made 24% more likely to support Trump but 28% less likely. Independents, who often overlap with undecided voters, were also slightly negative: 18% said Musk’s support made them more likely to vote for Trump, while 27% said it had the opposite effect.
Interestingly, Yahoo Finance respondents don’t appear to dislike Musk personally, with 45% viewing him as a societal benefit and only 23% seeing him as detrimental. However, 28% described Musk as a visionary entrepreneur who may wield too much power.
Musk, who manages six companies, is vocal against what he describes as government overreach, censorship, and “woke” social policies. On X, he often shares contentious views, including conspiracy theories, and reportedly maintains ties with Russian leader Vladimir Putin. His active political role has earned him criticism, with conservative commentator William Kristol calling him an “oligarch” aiming to steer the GOP and, if Trump wins, influence the broader government.
Once hailed as a hero by climate advocates for his role in electric vehicle development, Musk has become divisive. A former Democrat voter — he supported Hillary Clinton in 2016 and Joe Biden in 2020 — Musk’s MAGA support has polarized both former supporters and detractors.
