America Lags Far Behind China, Elon Musk's Source of Wealth Targeted

After travelling more than 1 billion kilometres over 400 days, China’s Tianwen-2 spacecraft has finally slowed down and approached a mysterious tiny space rock named Kamoʻoalewa. Measuring only tens of metres across and rotating every 30 minutes, this object is known as one of Earth’s miniature ‘moons’. The success of Tianwen-2 sets a new record for the China National Space Administration, marking the smallest object ever visited by a man-made spacecraft. This achievement is not just an ordinary scientific milestone; it is the clearest sign yet that the global technological competition map has shifted. Where the United States and its figurehead Elon Musk once seemed to stride alone at the forefront, China has now surged close behind. Launched in May 2025, Tianwen-2 will do more than just fly past the asteroid. It will accompany Kamoʻoalewa for nearly a year, studying its composition and structure in depth. The probe will also attempt to collect surface samples using an anchoring technique, locking itself onto the surface before drilling with ultrasonic equipment. If successful, China will become the third country to return asteroid samples to Earth and the first to master this high-precision method. The success of Tianwen-2 brings China closer to becoming a new space superpower. Previously, China successfully developed reusable rockets similar to SpaceX’s Falcon series. Furthermore, China’s Tiangong space station is set to become the only space station in orbit once the International Space Station is retired in the coming years. Elon Musk’s main rival in space technology is no longer NASA, but China. Musk’s wealth and influence rest entirely on two main pillars: Tesla and SpaceX. According to the latest data from early July 2026, Elon Musk’s net worth reached US$913 billion, making him the richest person in the world. Following its IPO, SpaceX has become Musk’s largest source of wealth, with Tesla now serving as the second pillar; Musk holds approximately 13 to 20 per cent of the shares. However, the technology of both companies that generate Musk’s wealth is increasingly falling behind China. Tesla has already lost its crown as the world’s largest electric vehicle manufacturer. Its technology also lags behind that of Chinese producers such as BYD, NIO, XPeng, and Zeekr. BYD’s Blade LFP battery, for instance, is more durable, safer, and 30 to 40 per cent cheaper than Tesla’s NMC batteries. The latest BYD models can also charge from 10 to 80 per cent capacity in just 10 to 12 minutes, faster than the majority of current Tesla vehicles. China’s autonomous driving systems are also developing rapidly and are adapted to road conditions in various countries, whereas Tesla’s Full Self-Driving feature remains under review and has not yet been widely accepted in many regions. This pressure has slowed Tesla’s profit growth and market share. Musk’s hopes are now fully pinned on SpaceX, but it turns out that in this field, China is also starting to overtake.