Is CEO activism threatening democracy?

By Aurélien Feix, Professeur associé, EDHEC Business School
Georg Wernicke, Professeur assistant, HEC Paris Business School

Intervening in the boardroom alone no longer seems to be enough for a good number of CEOs who are becoming increasingly vocal about politics. The most prominent example is Elon Musk, who publicly endorsed Donald Trump during the 2024 US presidential election campaign and later accepted a government role offered to him by the newly elected president. Is Musk an exception, or does his foray into politics reflect a broader trend among CEOs? Could the growing political involvement of business leaders threaten democracy? And could similar dynamics emerge in Europe?

During the 2024 US presidential…

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