Topline
A group of billionaires—worth a combined $1.07 trillion, according to our estimates—joined President Donald Trump on his trip to China this week to meet Chinese President Xi Jinping, their first summit of Trump’s second term, which comes amid tensions over trade, the war in Iran and the future of artificial intelligence.
Tesla and SPaceX CEO Elon Musk and US President Donald Trump shake hands as they attend the men’s NCAA wrestling competition at the Wells Fargo Center in Philadelphia, Pennsylvania, on March 22, 2025. (Photo by BRENDAN SMIALOWSKI/AFP via Getty Images)
AFP via Getty Images
Key Facts
Other high-profile CEOs joining the trip include Boeing’s Kelly Ortberg, Goldman Sachs’ David Solomon and Citigroup’s Jane Fraser, among 17 total executives attending the summit.
Trump arrived in China late Wednesday local time and will meet with Xi on Thursday morning.
Several of the executives have pending deals with China—Nvidia has been seeking approval from both Washington and Beijing to sell its advanced artificial intelligence chips to China, and while Trump approved the sale of an older model of chips, Beijing has blocked them from being purchased.
Bloomberg reported in March that Boeing was close to finalizing a 500-aircraft order for 737 Max jets to coincide with Trump’s meeting with Xi, according to unnamed sources, while Fraser told Bloomberg in November investors were showing renewed interest in China.
Trump said on Truth Social he would ask Xi to “‘open up’ China so that these brilliant people can work their magic,” referring to the executives.
What Other Executives Are In China With Trump?
Meta’s Dina Powell McCormick, Cargill’s Brian Sikes, Micron’s Sanjay Mehrotra, Qualcomm’s Cristiano Amon, Visa’s Ryan McInerney, Mastercard’s Michael Miebach, Illumina’s Jacob Thaysen and Coherent’s Jim Anderson are among the other executives invited. Cisco’s Chuck Robbins was also on the initial invite list, but the company said he was not able to attend, according to The New York Times.
Tangent
Trump called Huang and extended a last-minute invite Tuesday in the wake of reports that he was not invited, multiple outlets reported, citing unnamed sources. Huang and Musk traveled to China on Air Force One with Trump.
Key Background
Trump is set to meet with Xi on Thursday for a two-day summit that was delayed from its original date in March amid the U.S. war with Iran. The war is expected to be a prominent topic at the meeting, as China is Iran’s largest oil customer and Trump has urged China to help the U.S. reopen the Strait of Hormuz. The two sides are also considering restarting official talks about artificial intelligence, the Wall Street Journal reported last week, citing unnamed sources, as they race to establish dominance in the rapidly growing sector. Both Beijing and Trump have expressed a desire to strengthen relations and avoid any hostility, with Trump writing in April on Truth Social he expected a “big, fat, hug” from Xi. The Chinese Embassy wrote Monday on X that Xi and Trump will discuss “major issues concerning bilateral relations and world peace and development,” adding, “China and the U.S. need to expand cooperation and manage differences in the spirit of equality, respect and mutual benefit.”
Further Reading
Musk, Cook Set to Join Trump for Xi Summit, White House Says (Bloomberg)
Nvidia CEO Says He Would Join Trump’s China Trip If Invited (Bloomberg)
The World’s 2 Most Powerful Men Are Set to Meet Again. Here’s What to Know. (The New York Times)