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ProPublica: China-linked investors acquired SpaceX stakes before IPO

financeJun 18, 2026283,622

ProPublica obtained records showing more than a dozen investors with addresses in mainland China, Hong Kong, or Russia bought SpaceX shares years before the company’s IPO through a U.S. middleman called Tomales Bay Capital. One previously unreported investor in those records has documented ties to Chinese military contractors. SpaceX barred Chinese investors from its IPO on national security grounds, but these private-stage purchases gave foreign-linked entities indirect stakes in a company that holds U.S. defense contracts and operates sensitive satellite and launch technologies. That matters because equity stakes, even acquired indirectly, can create pathways for access to technical information, influence over corporate decisions, or legal and export-control complications for national security projects.

ProPublica
@propublica.org

NEW: Records obtained by ProPublica detail at least a dozen SpaceX investors with addresses in mainland China, Hong Kong or Russia who acquired stakes in SpaceX years ago through a middleman firm in the U.S. called Tomales Bay Capital.

26223h ago
tamy99

Unbelievable. SpaceX holds US defense contracts but let investors from China 🇨🇳 & Russia 🇷🇺 buy in via middlemen. No wonder Musk suppresses critical voices on X. Massive national security risk if these regimes get access to sensitive data! 🚨

pammageddon.bsky.social60

I think we know musk will sell the government secrets and data on Americans he acquired while directing DOGE… he has zero loyalty to any one, any nation.

llaw1.bsky.social36

Taxpayers PAY for Musks Space X waste, but China and Russia profit, and so does MUSK...ON OUR TAX DOLLARS,🤬🤷 As US Hospitals close, and kids starve, US wasted on Musk..

guruvy26

So pretty much a US Government funded project to give away our own technological advantages in the service of a billionaire racist megalomaniac who more than dabbles in Nazi ideology?

Lawrence22

No one can be surprised by this ..One word HELSINKI

balls-balls.bsky.social18

Musk is the embodiment of the Republican Party. His success is built on a combination of stealing ideas from others, taking advantage of workers, scamming the stupid, taking US govt handouts while keeping them from the poor, and dark, foreign money.

BenevolusPF 🇺🇸🏴󠁧󠁢󠁳󠁣󠁴󠁿🇮🇪🇸🇪🇩🇪🇺🇦☕️🥃🍺17

What a scam. SpaceX is a grift, plain and simple, a way to pay off people with ‘stock.’

daisychain05.bsky.social17

@propublica.org you need to share this: open.substack.com/pub/blueamp/...

Furious Floridian16

An IPO that is extremely and falsely overvalued.

bluebird555.bsky.social16

US needs to ban foreign investment in any companies granted government contracts. We also need to ban foreign investments in real estate....that's a major factor in what's driving higher real estate prices.

SteveDemetriou14

Is there anything not thoroughly corrupt abt Musk, anything?

BananaPancakesCanSaveYourSoul13

Xi and Putin are pals because they have the same goal in mind. Destroy Western Democracy and embarrass US on a global scale.

Barry Hochberg11

Interesting that they're making money on SpaceX's U.S. government contracts. So WE are paying for their profits. Anyone else see anything wrong with that?

franklin1337.bsky.social11

I truly believe Trumps SEC is looking the other way while our enemies use the entire U.S. stock market as a pump and dump scheme

Dr Jane in GA10

Elon Musk and Donald Trump are a dangerous combination of weirdos who will sell this great nation to the highest bidder for their own profit. 250 of existence and this is what we have come to? Tax the rich! Secure our country! Liberty and JUSTICE for ALL!

WorldOnFi/Re10

Why is musk, who led doge and gutted our countries govt And programs infrastructure, secret soliciting money from china!?!

T Antony 🏳‍🌈9

And anyone is surprised by this. Your tax dollars at work. The American people should put a lien on his rockets.

William Peter MacMason9

the stock market is just kind of a bad thing in general huh

RandolphGibbs9

Oligarchs are going to oligarch !!!

Paul Peters9

I had expected a much larger Russian stake in SpaceX, but who knows how the money flows when the 'ultimate beneficial owner' is out of sight...

Wally Kibler🇨🇦9

America is a Ponzi scheme And the American people are the marks

factsonly007.bsky.social8

are we shocked??? no this is one big racketeering presidency

John Shea 🍀7

Arrest him now and seize his property and his bank accounts across the world.

twstedtv.bsky.social7

We will soon lose the United States. When you have China, Saudi Arabia, Russia & other countries, purchase stock for a company that holds national defense contracts. You know the USA is inches away from losing it's land to 3rd world countries. You can thank the republicans for whatever happens. .

lindawl.bsky.social7

It’s simple your solution to this problem is to cancel all of Elon’s contracts. America has been sold by Trump. We need to get that trader out of the White House. Why we support a demented narcissist, and a drug addict, addicted billionaire trillionaire or whatever. Both are only in it for the money

Fella T 🇨🇿🇪🇺6

I wrote yesterday on one US forum about stocks that SpaceX is owned by russians. Mods never approved this post.

beornblack.bsky.social6

these are the people who have funded him all these years.

marcosantana5

SpaceX is a national security risk. @aoc.bsky.social @elizabeth-warren.bsky.social

David5

China has more influence over America than we like to admit. cbwrong.blogspot.com/2026/06/the-...

Al Olmsted5

Where's there's obscene amounts of money, there are obscene gluttonous felons behind it.

Amy Mode Activated 🪷 ᓚᘏᗢ ಇ.4

This is my surprised face...

Jennifer Keith4

Everyone anywhere close to power and money is a fucking liar these days. There is no honor amongst the elite.

gabrielgambino4

Republicans soft on China. 🤣🇺🇲

frankb01.bsky.social4

I sure hope the dems are strong enough to deal with this.

Canadian Club fan 🥃4

Like I said yesterday. A security risk is anything Elon Musk is involved in. He cannot be trusted.

UWOPS4

Illegal and rigged. And the GOP will do nothing but cash in on it.

Levi Anthony Luckenbach4

It’s all Treason. All of it.

Clay4

If we were to take a deep dive into one particular private equity fund, and dig past the fake companies (Montana is a favorite state for drug cartel and foreign actor incorporation) you'd wake up to a lot of things. Particularly CCP and drug cartel collusion.

BionicBlonde3

ELoan has always done sleazy business and taken money from anyone willing to give it. Now he's like an ALIEN with a strangle hold on much of the US Government.

John Brown’s daughter3

We let the fox destroy our henhouse while he’s been selling shares on eggs to his friends.

Anon3

Tax this out of existence.

llaw1.bsky.social3

Our tax money is funding a China, Russian money maker with Musk. NOT what we signed up for as Hospitals close, and Iran WAR WASTE goes on.

Eleet Strike Farce3

But it has “capital” in the name, has to be legit, right?

EC3

None of this surprises me as foreign investors/interests have wanted to control or at least be a part of our Space Program for decades. NASA in my opinion had budgetary problems in the 80s because Wall Street wanted privatisation of our Space Program for $$$. Congress went along with this.

GP3

What could possibly be wrong in that 🤔

Greg2

Musk is a direst threat to National Security.

mrtoads.bsky.social2

Like Wernher von Braun (who actually knew how to build stuff, rather than just buying things and slapping his name on them), old Muskie doesn’t care where the money comes from, as long as it comes.

Chas11372

Elon cannot be trusted. He’s the best showman/conman. He has convinced thousands of people (marks) to over value his companies. SpaceX actuals: $102 billion in total assets against $60.5 billion in reported total liabilities/debt. Not worth $175 per share.

Brad2

“It’s a big club and you ain’t in it.”

K. Moore 🦋📚🎼2

Taxpayer subsidies, huge US govt. contracts, and all the while foreign govts., and investors on the adversarial list, get rich. imo during the pump and dump Iran war, that Iranian leaders also got rich investing through middlemen.

Deb2

SpaceX? More like let’s start a company that likes to blow up crap. Would you get in one of their rockets?

rhythmfiction.bsky.social2

Oh so basically just another day that ends with Y? Let's just admit it.....this world is run by cretins

A Horse of Course2

Weren't there a period before the pandemic where China was producing a lot of SpaceX designed styled rockets? It wouldn't be shocking for SpaceX to have a leak, or a CEO who leaks for access. arstechnica.com/space/2025/1...

Shadowkings2

We know Trump is a con man, we know Elon is a charlatan parasite. Now we know he is selling tech to other countries weakening our defense. The enemy within

mmothnadine.bsky.social2

WHAT?! + So not surprised by Elon’s greedy betrayal. Also I suppose this answers the question of who got all our social security information that Elon stole during his time heading DOGE = CHINA

Nualaatpeace2

Money, the real enemy. We're living through times where money is greater than people. Enabled by corrupt Governance. Politics for sale translation, people for sale. Damned greed & corruption. Governments sanction big corporate takeovers. Sell our assets. Sell us out. They don't tax wealth.

captkickback.bsky.social2

I read that briefly as Tamales Bay. Anyway end all government contracts with Space X and Musk then exile that 💩

Charles Colee2

Interesting... Chinese & Russian stakeholders investing in a company with access to THIS country's intelligence apparatus. Evidently, Musk plans to profit from whatever intel Trump hasn't ALREADY sold to the highest bidder.

Chris H2

What! Everyone is NOT surprised!! BUT IT’S TIME TO CALL BS AND RAGE!

Kiki 🌊🌊2

And by investors in Russia, it means Putin and his buddies.

Joetakes Shots2

This is the golden age of Russian & Chinese espionage. They say empires crumble from the inside. I never thought of the US as an empire, I guess the same logic will apply here. 200 years from now Chinese history books read by kids in Kansas will talk about how capitalism was a corrupt way of life

Vickie2

Foreign investors. You don't say. 😒 I think this came to light some time ago.

Leigh2

Fkg traitor. Break up his monopoly company. Confiscate his assets. Deport him.

Jeff2

If ever there were concerns about Musk's actions to destroy our democracy, THIS is it. $$$$ is his god.

SNOID2

WELL Yea now they got all, our Tech..

ninners(that news girl)2

why would anyone think china wasn't involved when muskrat has tesla in China lol?

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