• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

2

‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion

3

'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic

1

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

2

‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion

3

'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic
PoliticsElon Musk

Elon Musk’s companies have billions in federal contracts but also deep ties to China. Trump said it makes him ‘susceptible’ as a businessman 

Marco Quiroz-Gutierrez
By
Marco Quiroz-Gutierrez
Marco Quiroz-Gutierrez
Reporter
Down Arrow Button Icon
Marco Quiroz-Gutierrez
By
Marco Quiroz-Gutierrez
Marco Quiroz-Gutierrez
Reporter
Down Arrow Button Icon
March 22, 2025, 12:28 AM ET
Elon Musk (right) with President Donald Trump.
Elon Musk (right) with President Donald Trump.Roberto Schmidt—AFP via Getty Images
Add Fortune on Google for similar content.
  • Elon Musk’s Friday visit to the Pentagon drew criticism and highlighted his companies’ links to both the federal government and China. The billionaire’s rocket company SpaceX has $22 billion in contracts with the federal government. In China, Musk’s Tesla operates its biggest factory, Gigafactory Shanghai, which as of last year produced about half of all Tesla vehicles.

Elon Musk visited the Pentagon Friday for a briefing on China which underscored the billionaire’s steadily growing influence in the Trump administration as well as his businesses’ deep ties to both the federal government and China.

Recommended Video

Musk was originally meant to receive a briefing on top-secret information related to a potential war with China, The New York Times reported, although defense officials later said he would receive an unclassified briefing, according to the Wall Street Journal. The Defense Secretary Pete Hegseth and President Trump have both denied that Musk visited the Pentagon to receive top-secret information on a possible war with China, as was reported by the Times prior to Musk’s visit Friday. 

Before reporters in the Oval Office, Trump noted that Musk would not see top-secret information on a potential war with China, and mentioned that the billionaire’s businesses could play a role.

“We don’t want to have a potential war with China, but I can tell you if we did, we’re very well-equipped to handle it, but I don’t want to show that to anybody but certainly you wouldn’t show it to a businessman,” Trump said. “Elon has businesses in China and he would be susceptible perhaps to that.” 

Whatever information he received (he replied “Why should I tell you?” to a reporter’s question about the subject of the meeting), the potential high-level nature of his Pentagon visit has drawn scrutiny.

Sen. Kirsten Gillibrand (D-N.Y.), who is also a senior member of the Senate’s Armed Services Committee, wrote in a post that Musk should not have been at the Pentagon.

“Elon Musk is an unelected, self-interested billionaire with no business anywhere near the Pentagon,” Gillibrand wrote in a post on X.

It’s unclear whether other defense companies would file lawsuits based on Musk’s access, but even if they do it’s doubtful they would prevail in court, said Case Western Reserve University law professor Anat Alon-Beck. 

“Nobody’s promised equal access to that type of information,” Alon-Beck told Fortune. “We’ve always had people—with the previous administrations as well—having access versus others who don’t. So it’s not just about Musk.”

Still, Musk’s businesses have deep ties to China. His EV maker Tesla has been selling vehicles in the country for a decade and Musk has often spoken positively about the country. In 2023, during an audio interview with U.S. lawmakers on his social media network X, the CEO said he was “pro-China.”

“I have some vested interests in China but honestly, I think China is underrated and I think the people of China are really awesome and there’s a lot of positive energy there,” he said at the time.

Among his “vested interests” and involvements with China are the following:

  • Tesla’s biggest factory, Gigafactory Shanghai, is located in China. Half of Tesla’s vehicles globally were made there as of last year.
  • Despite a recent 49% drop in deliveries, China is still one of Tesla’s biggest markets behind the U.S. 
  • The Chinese government has reportedly “sought assurances” that Musk would not sell Starlink in China, the Financial Times reported. Musk last year told companies making Starlink components in Taiwan to move manufacturing to other countries because of “geopolitical concerns.”

In the U.S., SpaceX is a major government contractor with about $22 billion in government contracts, according to its CEO. Its subsidiary, Starlink, helps the Pentagon provide internet access in remote environments. 

Tesla, for its part, has received $11.4 billion in regulatory credits from federal and state governments, according to a Washington Post analysis. Cumulatively, Musk’s companies have received $38 billion worth of government contracts, loans, subsidies, and tax credits going back 20 years, the Post reported.

Subscribe to Fortune Gulf Brief. Every Tuesday, this new newsletter delivers clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it. Sign up here.
About the Author
Marco Quiroz-Gutierrez
By Marco Quiroz-GutierrezReporter
LinkedIn iconTwitter icon

Role: Reporter
Marco Quiroz-Gutierrez is a reporter for Fortune covering general business news.

See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Politics

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Politics

Trump to impose 50% tariffs on most Canadian goods, invoking the ‘nuclear option’ that could unleash a new wave of economic chaos and inflation
EconomyTariffs
Trump to impose 50% tariffs on most Canadian goods, invoking the ‘nuclear option’ that could unleash a new wave of economic chaos and inflation
By Josh Boak and The Associated PressJuly 20, 2026
10 hours ago
President Donald Trump walks down the steps from Air Force One.
PoliticsDonald Trump
Trump admin attempted to uncover phone records of NYT journalists and sources related to coverage of Qatari-gifted Air Force One
By The Associated Press, Eric Tucker and Jocelyn NoveckJuly 20, 2026
11 hours ago
Alaskan pilot Ken Jouppi sits in an aircraft hanger in front of a plane.
LawSupreme Court
A passenger brought a 6-pack of beer on an Alaskan pilot’s plane. He now has to defend his plane’s seizure in front of the Supreme Court
By The Associated Press and Michael KunzelmanJuly 20, 2026
12 hours ago
Blue Owl Capital owns about a third of the Freedom Fuel properties: A look inside the $3.47 gas chain
North AmericaDonald Trump
Blue Owl Capital owns about a third of the Freedom Fuel properties: A look inside the $3.47 gas chain
By Brian Slodysko, Michael Biesecker and Josh BoakJuly 20, 2026
12 hours ago
A 13-year-old teenage boy looks at an iPhone screen displaying various social media apps.
PoliticsSocial Media
French President Macron backs effort to ban kids under 15 from social media before departing office next year
By The Associated Press and Samuel PetrequinJuly 20, 2026
13 hours ago
jd
PoliticsWhite House
JD Vance becomes first sitting vice president to welcome a child in office in over 150 years
By Darlene Superville and The Associated PressJuly 20, 2026
19 hours ago

Most Popular

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock
Success
Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock
By Sasha RogelbergJuly 20, 2026
15 hours ago
‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion
Success
‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion
By Sydney LakeJuly 20, 2026
19 hours ago
'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic
AI
'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic
By Jason MaJuly 18, 2026
2 days ago
Warren Buffett says his $147 billion investing career was an accident: ‘I may be one of the 10 luckiest in the world’
Future of Work
Warren Buffett says his $147 billion investing career was an accident: ‘I may be one of the 10 luckiest in the world’
By Sarah GlodekJuly 20, 2026
1 day ago
Current price of silver as of Monday, July 20, 2026
Personal Finance
Current price of silver as of Monday, July 20, 2026
By Joseph HostetlerJuly 20, 2026
23 hours ago
It’s not just Taco Bell lettuce and possible glass in Pillsbury rolls: Food and drink recall events reached a 6-year year-over-year high
Retail
It’s not just Taco Bell lettuce and possible glass in Pillsbury rolls: Food and drink recall events reached a 6-year year-over-year high
By Sasha RogelbergJuly 20, 2026
23 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.