Elon Musk’s Popularity May Surprise You - InvestingChannel

Elon Musk’s Popularity May Surprise You

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From the Penthouse to the Outhouse in 2022

Maybe there are some things we can all agree on as we close out a somewhat divisive 2022? 

Like a whole bunch of people and things fell from grace this year. 

Except for Kayne West. Everybody already hated him to start the year. 

And Donald Trump and Elon Musk may have fallen less than you thought.

You might be surprised at how people view them today versus earlier in the year. We’ll get to those two polarizing figures in a second, but first, a few things we can all agree on or at least find some middle ground on (probably). 

Mortgage Rates

The 30-year mortgage rate started 2022 at 3.29%. In Q1, the median sale price of a home in the U.S. was $433,100. This means if you put 10% down, your monthly payment would have worked out to $1,705

At the moment, the 30-year rate hovers around 6.17%. Down from October’s nearly 7.4% peak, but still high. Using the Q3 median sale price of $454,900, with 10% down, your monthly payment comes to $2,500

For the record, at October’s 7.4% rate, the monthly payment equaled $2,835 using the Q3 median sale price and 10% down. 

We can all agree that sucks


Did it fall from grace in 2022? Or is it the most massive buying opportunity of a lifetime? 

Source: Google Finance

We’ll say this: You have to have guts serious guts to go all in on crypto in any form right now. 

Forget coin and crypto-related stock performance. After the FTX fiasco, you have to worry about your assets’ safety just sitting in these accounts. 

In contrast, even though the major stock indices haven’t had a great year, you’re probably comfortable parking your cash with most stock- and ETF-first brokerage platforms. 

At Least Crypto Isn’t Carvana 

2022’s biggest loser? Hands down, Carvana (CVNA). And you thought Tesla (TSLA) stock cratered. 

Source: Google Finance

Regardless of what happened throughout 2022, Tesla rarely lost the top spot in Trackstar, our proprietary sentiment indicator. As of this week, it generates roughly 65% more search interest than #2 Eversource Energy (ES) and #3 Apple (AAPL), two stocks consistently in the top five.

Even with all the hate Elon Musk faces these days, interest in Tesla never fades. Turns out, people might not hate Elon quite as much as the headlines scream.

Elon Musk

Elon Musk’s Popularity May Surprise You

Key Takeaways:

  • If you believe the polls, Elon Musk remains pretty popular. 
  • Sentiment towards Elon illustrates the polarized state of the nation. 
  • Our wish for 2023: a little more love and a lot less hate. 


Source: Harris Poll 

Harvard conducted the Harris Poll you see above in mid-December, right before Donald Trump’s digital trading card debacle (we can all agree it was a debacle, right?). 46% of people it surveyed view the former president favorably. Florida governor and 2024 Republican hopeful Ron DeSantis and the man who needs no introduction, Elon Musk, tie for second at 45%. 

On the flip side, 47% view Trump negatively versus just 32% for DeSantis and 36% for Musk. 

Now, if Elon would just announce a White House run, 2023 could be even crazier than 2022. 

Continuing Popularity 

Last month, The Juice illustrated Tesla’s continued dominance in the electric vehicle market: 

Tesla accounted for roughly 71% of all new EV registrations in 2021. Here are some other stats:

  • Tesla makes three of the top four EV models. 
  • Over the last year, Tesla’s Model Y accounted for 32.75% of new EV registrations and its Model 3 30.69%. That’s good for first and second on the list. 
  • Its Model S came in fourth at 5.1%. 

While the cars are cool, Elon helps to a super meaningful extent make them cool. Love him or hate him, we don’t think this is all that controversial of a statement. 

Plus, Elon remains somewhat popular in surveys beyond the Harris Poll. 

For example, here are numbers on Musk’s popularity from YouGov: 


Source: YouGov

Pretty shocking that 7% haven’t heard of Elon Musk. 

Digging deeper into the data:

  • Younger people like Elon more, with 44% of millennials reporting a favorable opinion versus 41% of Gen Xers and 37% of baby boomers. 
  • The difference is more pronounced between men and women. 47% of men like Elon compared to just 34% of women. 

And Elon’s popularity has held steady over time. 


Source: YouGov

Even more surprising, among business figures, only Bill Gates is more popular than Elon Musk at 43% against Elon’s 40%. A larger percentage of people like Elon than those who like #3 Mark Cuban (38%), #4 Warren Buffett (37%), #5 Richard Branson (30%), #6 Jeff Bezos (28%), #7 Donald Trump, Jr. (27%), and #8 Mark Zuckerberg (23%). 

Curious that way more people use Amazon, Facebook, and Instagram than drive Teslas, yet Amazon’s Bezos and Facebook and Instagram’s Zuckerberg rank significantly below Elon in terms of likeability. 


The Bottom Line: For as much love as we have toward public figures these days, we have just as much hate. For every person with a favorable opinion of Elon Musk, there’s somebody ready to hunt down his private jet. 

We have two hopes that trump all others for 2023: That a year from now, the charts we show in the December 20 edition of The Juice will be more green than red. And that the nation will be at least a little less split down the middle.

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