Elon Musk has become a 'detriment' to the value of his companies, say 79 CEOs in new Yale School of Management poll

Some of Musk's peers are not sure about his business decisions.

According to a new survey of CEOs by the Yale School of Management, Musk has become a detriment to the value of his companies. Three-quarters of the executives don't think that the company will be more valuable in five years, and more than half of the CEOs think that the best days are behind it.

Yale School of Management

The survey was done at the summit. At the event, which hosted top CEOs in the world of tech, transportation, and finance, attendees were confidentially polled on a variety of business topics.

80% of the company's revenue last year came from advertising on the micro-messaging site. According to a survey of CEOs, companies should stop advertising on social media sites and CEOs should care if their brands are linked to hate speech. Though, 65% said their organization has yet to pull its ads from the social media site, which reportedly saw an increase in hate speech in the days after Musk's acquisition.

98% of the executives agreed that the billionaire paid too much for the company when he bought it.

According to a press release from the event, some participants objected to Musk's decisions at the company.

Jeffrey Sonnenfeld, who hosted the summit, said that fans of Musk, including Larry Ellison, had explained away the behavior of the CEOs at the electric car maker.

Musk has a track record of technological successes. He dangles a shiny object and distracts you, so we could match each and every one of them with 10 failures.

Insider's Melia Russell previously reported that some tech founders hope to follow in Musk's footsteps, from massive layoffs to calls for workers to work hard. Daniel Friedberg said last month that Musk could set a new standard for Silicon Valley.

Musk has indicated that his focus could be nearing an end after several chaotic weeks. On Tuesday, Musk said he will step down as CEO of Twitter as soon as he finds a replacement that is "foolish" enough to take his place. He said that he would lead the software and server teams if he were no longer the CEO.

Some may be relieved by a Musk resignation. Several of the company's shareholders are concerned that the CEO is becoming too distracted by the social networking site. "Tesla needs and deserves to have working full-time C.E.O," said the third largest shareholder on the social networking site.

The electric-car maker's share price has plummeted this year. The EV company's shares appeared to respond positively to the possibility that Musk would step down as CEO. In the past 14 months, the billionaire has sold nearly 40 billion of his shares in the company.