Elon Musk approval rating falls: Tesla boss is less popular than Donald Trump
has undertaken a daunting task of building a new U.S. political party from scratch as the world's richest man announced the birth of the "America Party". While Musk wants to compete with the two grand old political parties in the USA, President
Donald Trump
mocked Musk's efforts on Sunday. Republican strongman said that third parties have never worked, so he can have fun with it, but it's ridiculous. Complicating Musk's plans is that many voters dislike him. Any role he plays in an election is sure to become part of the debate.
Elon Musk Approval Rating
Tesla
boss is viewed less favorably than Trump by the American public at large - just 36 per cent of respondents to a June Reuters/Ipsos poll had a favorable view of Musk compared with 42 per cent who viewed Trump favorably, while 59 per cent of respondents have an unfavorable view of him compared with 55 per cent who viewed Trump unfavorably.
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But the billionaire's biggest liability may be that he is trying to challenge Trump politically while relying on support from Trump's own voters. Musk enjoyed his strongest level of support - 78 per cent favorability - among people who voted for Trump in November.
'Musk himself is not very popular, and his appeal has a huge overlap with the existing Republican coalition,' said Hans Noel, a political scientist at Georgetown University. 'There really isn't an unrepresented movement that he's speaking for ... he's unlikely to elect many America Party candidates."
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Tesla Boss Facing Questions
Musk, who became the word's richest man thanks to his Tesla car company and his SpaceX satellite firm, spent hundreds of millions on Trump's re-election and led the Department of Government Efficiency from the start of the president's second term aimed at slashing government spending.
The first sign of investor dissatisfaction with Musk's announcement followed later in the day. Investment firm Azoria Partners will postpone the listing of a Tesla exchange-traded fund, Azoria CEO James Fishback said in a post on X.
Fishback is asking Tesla's board to clarify Musk's political ambitions and said the new party undermines the confidence shareholders had that he would be focusing more on the company after leaving government service in May.
Trump earlier this week threatened to cut off the billions of dollars in subsidies that Musk's companies receive from the federal government. Republicans have expressed concern that Musk's on-again, off-again feud with Trump could hurt their chances to protect their majority in the 2026 midterm congressional elections.
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