Today, Donald Trump is hosting a state dinner with Chinese President Xi Jinping, and numerous tech executives — with a combined net worth of $2.2 trillion — are expected to join, most of whom have business interests influenced by the administration and in China.
Billionaires including Elon Musk, Mark Zuckerberg, Jensen Huang, Sam Altman and others are expected to attend, many of whom sat in the front row at Trump’s inauguration and have attended numerous other lavish Trump-hosted affairs.
Trump and his family have also leveraged the presidency to engage in shady business deals in China. Earlier this year, Trump’s son Eric joined him on a trip to China, just as a company linked to the Trump family explored a lucrative business deal with a Chinese company. Alt5 Sigma — a partner company of the Trump family’s World Liberty Financial crypto business — signed a memorandum of understanding with Chinese AI chipmaker Nano Labs to build AI data centers throughout North America. U.S. lawmakers have raised concerns about Nano Labs’ ties to “Chinese military interests.”
With just 40 days until the midterms, Trump and Republicans are facing record-low approval ratings. A meager 27% of Americans approve of Trump’s handling of the economy, and more than 70% have a negative view of his economy. To top it off, just 24% of Americans believe Trump has the right priorities, as nearly half say they feel stress about their finances amid high prices.
In response, DNC Deputy Communications Director Kendall Witmer released the following statement:
“Donald Trump has shown time and again that his priorities are with billionaires and big corporations over everyday Americans. As big tech oligarchs get VIP seats to Trump’s lavish state visit with China, it couldn’t be clearer that Trump’s presidency is for sale to the highest bidder, and now he has brought his pay-to-play politics to the world stage. Meanwhile, working families are struggling to make ends meet amid high prices on gas, groceries, and housing. Trump’s agenda is all about serving himself, his family, and ultra-rich elites — and Americans are fed up.”
REMINDER: All of the tech executives joining Trump’s state dinner have donated to his campaign or invested in White House vanity projects — often in exchange for political or business favors. Elon Musk, Tim Cook, Mark Zuckerberg, and Jensen Huang all donated to Trump’s ballroom or his political organizations, often to the tune of millions. The Trump administration later granted government contracts, dropped lawsuits into investigations, or gutted rules to stop corporate tax avoidance.
