FT: Chinese money is pouring into Musk’s private companies
Chinese investors have poured tens of millions of dollars into Elon Musk’s private companies SpaceX, Neuralink, and xAI, according to a report from the Financial Times.
According to the FT, the investments are obscured by the use of “special-purpose vehicles” based in the Cayman Islands, which do not disclose investors.
Musk’s powerful new role at the top of US government decision-making has highlighted concerns over conflicts of interest related to his extensive business ties to China at a time of increased tensions fueled by trade disputes.
SpaceX is a major contractor for several US government agencies and has received over $18.5 billion in revenue from NASA and the Department of Defense, and regularly launches classified spy satellites for the National Reconnaissance Office. SpaceX is reportedly weighing selling insider shares valuing the company at $350 billion.
China is a crucial market for Musk’s Tesla, which saw shipments drop nearly 50% in February as it faced stiff competition from cheap Chinese EVs. Musk’s seat of power appears to be causing him problems in Europe as well, as Tesla sales drop by double digits all over the continent, led by a 76% year-over-year drop in Germany, where Musk has inserted himself in right-wing politics.
Musk’s powerful new role at the top of US government decision-making has highlighted concerns over conflicts of interest related to his extensive business ties to China at a time of increased tensions fueled by trade disputes.
SpaceX is a major contractor for several US government agencies and has received over $18.5 billion in revenue from NASA and the Department of Defense, and regularly launches classified spy satellites for the National Reconnaissance Office. SpaceX is reportedly weighing selling insider shares valuing the company at $350 billion.
China is a crucial market for Musk’s Tesla, which saw shipments drop nearly 50% in February as it faced stiff competition from cheap Chinese EVs. Musk’s seat of power appears to be causing him problems in Europe as well, as Tesla sales drop by double digits all over the continent, led by a 76% year-over-year drop in Germany, where Musk has inserted himself in right-wing politics.
