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Chinese Investors Inject Millions of Dollars into Elon Musk’s Private Companies Amid Tensions
Chinese investors have poured tens of millions of dollars into private companies controlled by American billionaire Elon Musk, using arrangements that conceal their identities, according to the Financial Times on Sunday.
The newspaper, quoting asset managers and investors involved in the transactions, said that the investments are funneled through special purpose entities to avoid drawing attention from U.S. authorities and companies concerned about the influx of Chinese capital, especially amid the ongoing tensions between the two countries.
Three asset managers supported by Chinese capital told the Financial Times that they had sold shares worth over $30 million in SpaceX, Neuralink, and X.AI, three tech companies controlled by Musk, over the past two years.
The sources said that the flow of Chinese capital into Musk’s business empire is primarily aimed at profit and has little to do with technology transfer or influencing public policy. Musk has maintained long-standing communications with senior Chinese officials, including President Xi Jinping.
Tesla, which is owned by Musk, manufactures two of its models in China and also exports its electric cars made there to markets like Europe, where sales dropped by 45% in January.
Sources: Financial Times