Trump Leads 17 Member Top Business Delegation to Meet Xi
The 17 American business executives
accompanying US president are the wealthiest such delegation to visit the
country
·
The delegation includes 17 top executives from
sectors such as:
o
Technology,
o
Finance,
o
Aerospace,
o
Semiconductors.
·
According to estimates based on Forbes and SEC
data, the combined personal wealth of the delegation exceeds US$1.07 trillion.
Key Business Leaders in the Delegation
·
Elon Musk is the richest member, with an estimated
net worth of US$827 billion, accounting for over 77% of the delegation’s total
wealth.
·
Musk is reportedly seeking:
o
Approval to launch robotaxi services in China,
o
Expanded sales of AI-powered robots in the Chinese
market.
·
Jensen Huang joined the delegation at the last
minute and is estimated to have a net worth of US$194 billion.
·
Nvidia is navigating US export restrictions on
advanced AI chips sold to China.
o
The US permits sales of Nvidia H200 chips to China
with a 25% surcharge.
o
More advanced chip models remain banned for Chinese
customers.
·
Analysts noted that China is intensifying efforts
to achieve semiconductor self-sufficiency.
·
Stephen Schwarzman ranks third in delegation wealth
with around US$40 billion.
·
Financial sector executives accompanying Trump
include leaders from:
o
Visa
·
These firms are reportedly seeking greater access
to China’s financial sector and reduced market restrictions.
Technology and Manufacturing Interests
·
Tim Cook and Sanjay Mehrotra are also part of the
delegation.
·
Executives are also reportedly seeking assurances
from China on continued supplies of:
o
Rare earth minerals,
o
Critical industrial materials needed for
manufacturing and technology production.
Boeing and Potential Aircraft Deals
·
Kelly Ortberg is expected to pursue a potential
deal for up to 500 aircraft sales to China.
·
Analysts believe the summit could produce
preliminary commercial agreements, although the short preparation time may
delay final deals.
Trump’s Message to China
·
Trump said he would ask Xi Jinping to “open up”
China further for American businesses.
·
He argued that expanded economic cooperation would
benefit both countries.
·
During Trump’s previous 2017 China visit, US and
Chinese firms announced deals worth more than US$253 billion, though many were
never fully implemented.
[ABS News Service/14.05.2026]
The
business executives accompanying US President Donald Trump on his state visit
to Beijing this week are the wealthiest such delegation to visit China –
holding a combined personal net worth of over US$1 trillion – an indication of
continued interest in the country’s lucrative market despite strained bilateral
ties.
With
Nvidia CEO Jensen Huang’s last-minute addition to the delegation, 17 executives
from the technology, finance, aerospace and semiconductor sectors have joined
Trump, who landed in Beijing on Wednesday evening.
The
delegation’s collective wealth exceeds US$1.07 trillion, according to data from
Forbes and United States Securities and Exchange Commission filings compiled by
Quiver Quantitative, and each member holds a significant commercial stake in
the bilateral relationship.
Tesla
and SpaceX CEO Elon Musk leads the group with a personal net worth of US$827
billion, representing over 77 per cent of the delegation’s total wealth.
Musk
was seeking a licence to sell robotaxis in China and also wanted to increase
sales of his artificial intelligence robots in the country, said Arthur
Kroeber, head of research at Gavekal Dragonomics, in
a note issued on Tuesday.
Huang
ranks second, with a personal net worth of US$194 billion. His firm, a global
leader in the design of the computer chips that power AI models, has had to
navigate US export restrictions on the hi-tech products that can be sold in the
enormous Chinese market.
While
Washington permits the sale of Nvidia’s H200 graphics processing units in China
– subject to a 25 per cent surcharge paid to the US Treasury – it has banned
the sale of the company’s more advanced models to Chinese customers.
But
China has been doubling down on efforts to boost self-sufficiency in the tech
sector, and US Commerce Secretary Howard Lutnick recently told the US Senate
that China had not bought any H200s.
Blackstone’s
Stephen Schwarzman ranks third in the delegation with a personal net worth of
US$40 billion. Kroeber said that alongside the CEOs of BlackRock, Goldman
Sachs, Citigroup, Visa and Mastercard, Schwarzman was seeking further
liberalisation of restrictions on access to China’s financial sector.
Meanwhile,
he added, executives from tech companies “probably want assurance that China
will keep up the flow of rare earths and other critical minerals required for
their production processes”.
Apple’s
Tim Cook, with a personal net worth of US$2.9 billion, and semiconductor maker
Micron’s Sanjay Mehrotra, with a personal net worth of US$1.1 billion, are also
part of the delegation.
Analysts
have suggested the US also wants to secure a major aircraft order. Boeing CEO
Kelly Ortberg, a delegation member with a personal net worth of at least
US$32.4 million, will reportedly be looking to negotiate a deal for as many as
500 jets.
“With
the impressive group of American CEOs joining President Trump in Beijing, we
may see some preliminary announcements of commercial deals,” the Asia Society
Policy Institute said in a report issued on Wednesday.
“But
given the last-minute invitations to join the summit, time may be insufficient
to get these deals over the finish line.”
Trump
vowed in a social media post on Wednesday that he would ask President Xi
Jinping “to ‘open up’ China so that these brilliant people can work their
magic”, referring to his business delegation.
“In
fact, I promise, that when we are together, which will be in a matter of hours,
I will make that my very first request,” he said, adding that it would be
beneficial to both countries.
During
Trump’s previous state visit in 2017, Chinese and US companies signed dozens of
deals worth a total of more than US$253 billion across sectors including
energy, chemicals and infrastructure. However, many never materialised.