The 17 American business executives accompanying US President Donald Trump on his visit to China form the wealthiest US corporate delegation ever to travel to the country, with a combined personal wealth exceeding $1 trillion.
The delegation, which arrived in Beijing on Wednesday along with Trump, includes top executives from the technology, finance, aerospace and semiconductor sectors, underlining continued US corporate interest in the Chinese market despite strained ties between the two countries, the South China Morning Post newspaper reports.
The group expanded at the last minute with the addition of Jensen Huang, chief executive of Nvidia. In total, 17 executives joined the trip.
According to data compiled from Forbes and US regulatory filings, the delegation’s combined net worth exceeds $1.07 trillion. Elon Musk accounts for the largest share, with an estimated personal wealth of $827 billion.
Musk is reportedly seeking regulatory approval to introduce robotaxi services in China and expand sales of Tesla’s artificial intelligence-powered robots in the country. His companies Tesla and SpaceX have significant commercial interests linked to China.
Huang ranks second in the delegation with a personal fortune estimated at $194 billion. Nvidia has been navigating US export restrictions on advanced AI chips sold to China. While some of the company’s H200 graphics processing units can still be sold in China after payment of a surcharge to the US Treasury, Washington has blocked exports of Nvidia’s more advanced semiconductor models to Chinese customers.
China, meanwhile, has intensified efforts to build self-sufficiency in advanced technology and semiconductors.
Among the financial sector executives joining the visit are Stephen Schwarzman of Blackstone, along with executives from BlackRock, Goldman Sachs, Citigroup, Visa and Mastercard. Analysts say they are likely to push for further opening of China’s financial sector.
Executives from major technology companies are also expected to seek assurances from Beijing on uninterrupted supplies of rare earths and critical minerals needed for manufacturing.
The delegation also includes Tim Cook of Apple and Sanjay Mehrotra of Micron Technology.
A major aircraft deal could also emerge from the visit. Kelly Ortberg, chief executive of Boeing, is expected to pursue negotiations for the sale of up to 500 aircraft to China.
The Asia Society Policy Institute said preliminary commercial agreements could be announced during the summit, although the short preparation time may delay finalisation of some deals.
Ahead of the visit, Trump said he would urge Chinese President Xi Jinping to further open China’s economy to US businesses, calling it beneficial for both countries.
During Trump’s earlier state visit to China in 2017, Chinese and American firms signed agreements worth more than $253 billion across sectors such as energy, infrastructure and chemicals, although many of those deals were never implemented.