SpaceX

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Before SpaceX IPO, Investors in China Secretly Acquired Stakes
By Justin Elliott and Joshua Kaplan
June 18, 2026

Introduction:

(ProPublica) A businessman with ties to Chinese military contractors was among the overseas investors who acquired stakes in SpaceX while it was still a private company. An entity linked to the Qatari royal family also took a stake.

The new details come from a private investor list obtained by ProPublica that sheds light on a particularly delicate issue for Elon Musk’s rocket company: which people in countries like China bought into the company, and how. SpaceX built its business off sensitive U.S. government work like making spy satellites for the Pentagon. While there is no ban on Chinese investment in U.S. military contractors, such investment is heavily regulated.

In a sign of its sensitivity to the concerns, SpaceX barred investors from China and Hong Kong from buying shares in its initial public offering last week due to “regulatory and compliance risks,” Bloomberg reported. The U.S. government alleges that China has a strategy of using investments in sensitive industries for espionage and to get access to cutting-edge technology.

The company’s IPO last week was the largest ever, making Musk the world’s first trillionaire. Musk has extensive business interests in China, where Tesla builds many of its cars.

The new records detail at least a dozen investors with addresses in mainland China, Hong Kong or Russia who acquired stakes in SpaceX years ago through a middleman firm in the U.S. called Tomales Bay Capital. The investments are relatively small, ranging from $800,000 to $40 million, and were made between 2018 and 2021.

Read more here: https://www.propublica.org/article/sp ... rs-china

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