The 17 American business executives accompanying US president are the wealthiest such delegation to visit the country
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.
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.
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.
Source: News - South China Morning Post
