Topline<\/p>\n
A group of billionaires\u2014worth a combined $1.07 trillion, according to our estimates\u2014joined President Donald Trump on his trip to China this week to meet Chinese President Xi Jinping, their first summit of Trump\u2019s second term, which comes amid tensions over trade, the war in Iran and the future of artificial intelligence.<\/p>\n
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)<\/p>\n
AFP via Getty ImagesKey Facts<\/p>\n
Other high-profile CEOs joining the trip include Boeing\u2019s Kelly Ortberg, Goldman Sachs\u2019 David Solomon and Citigroup\u2019s Jane Fraser, among 17 total executives attending the summit.<\/p>\n
Trump arrived in China late Wednesday local time and will meet with Xi on Thursday morning.<\/p>\n
Several of the executives have pending deals with China\u2014Nvidia 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.<\/p>\n
Bloomberg reported<\/a> in March that Boeing was close to finalizing a 500-aircraft order for 737 Max jets to coincide with Trump\u2019s meeting with Xi, according to unnamed sources, while Fraser told Bloomberg<\/a> in November investors were showing renewed interest in China.<\/p>\n Trump said on Truth Social he would ask Xi to \u201c\u2018open up\u2019 China so that these brilliant people can work their magic,\u201d referring to the executives.<\/p>\n What Other Executives Are In China With Trump?<\/p>\n Meta\u2019s Dina Powell McCormick, Cargill\u2019s Brian Sikes, Micron\u2019s Sanjay Mehrotra, Qualcomm\u2019s Cristiano Amon, Visa\u2019s Ryan McInerney, Mastercard\u2019s Michael Miebach, Illumina\u2019s Jacob Thaysen and Coherent\u2019s Jim Anderson are among the other executives invited. Cisco\u2019s 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<\/a>.<\/p>\n Tangent<\/p>\n Trump called Huang and extended a last-minute invite Tuesday in the wake of reports that he was not invited, multiple<\/a> outlets<\/a> reported, citing unnamed sources. Huang and Musk traveled<\/a> to China on Air Force One with Trump.<\/p>\n Key Background<\/p>\n 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\u2019s 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<\/a> 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 \u201cbig, fat, hug\u201d from Xi. The Chinese Embassy wrote Monday on X that Xi and Trump will discuss \u201cmajor issues concerning bilateral relations and world peace and development,\u201d adding, \u201cChina and the U.S. need to expand cooperation and manage differences in the spirit of equality, respect and mutual benefit.\u201d <\/p>\n Further Reading<\/p>\n Musk, Cook Set to Join Trump for Xi Summit, White House Says<\/a> (Bloomberg)<\/p>\n Nvidia CEO Says He Would Join Trump\u2019s China Trip If Invited <\/a>(Bloomberg)<\/p>\n