57% of Wealthy Investors Support VP Harris, While 43% Prefer Trump: Survey

A recent survey conducted by UBS indicates that a significant majority of affluent investors are inclined to support Vice President Kamala Harris in the upcoming U.S. presidential election.

According to the survey, 57% of wealthy investors favor Harris, while 43% plan to vote for former President Donald Trump. The poll targeted investors with at least $1 million in investable assets and demonstrates a strong preference for Harris among Democrats, with 91% supporting her as opposed to just 9% for Trump. Conversely, 88% of Republican investors are in favor of Trump.

Among independent voters, Harris holds a slight advantage, gaining support from 60% compared to 40% for Trump.

The economy is the foremost concern for these investors, with 84% identifying it as their primary issue. Other major concerns include Social Security (71%), immigration (68%), and taxes (69%). There is almost an even division regarding who is perceived as better suited to handle economic issues, with 51% leaning toward Trump and 49% toward Harris.

In a separate survey focusing on business owners, a majority express a preference for Trump, with 53% indicating they would vote for him, while 47% would choose Harris. Similar to wealthy investors, business owners also rank the economy as their top concern, followed by taxes, health care, Social Security, and immigration.

Wealthy investors report feeling more optimistic about the U.S. economy and their investment portfolios compared to four years ago. In fact, 55% of respondents expressed optimism about the U.S. economy in 2024, an increase from 43% in 2020. Business owners echo this sentiment, with 65% confident about the U.S. economy, up from 55% in 2020.

Both affluent investors and business owners are making preparations for potential shifts, with 77% of wealthy investors considering making adjustments to their investment portfolios prior to the election, rising from 63% four years ago. The most expected changes to portfolios include altering sector allocations (38%), incorporating protections or hedges (35%), increasing investments (34%), and enhancing cash holdings (34%).