A businessman with ties to Chinese military contractors acquired stakes in SpaceX while it was still a private company. An entity linked to the Qatari royal family also acquired a stake in SpaceX during its private phase. SpaceX built its business off sensitive U.S. government work, including making spy satellites for the Pentagon. SpaceX barred investors from China and Hong Kong from its initial public offering. There is no ban on Chinese investment in U.S. military contractors, but such investment is heavily regulated. ProPublica obtained a private investor list that revealed details about Chinese investors in SpaceX. According to Daily Kos, the reason SpaceX barred investors from China and Hong Kong from its IPO was regulatory and compliance risks. According to ProPublica.org, the U.S. government alleges that China has a strategy of using investments in sensitive industries for espionage and to get access to cutting-edge technology. According to Times of India, Chinese investors are seeking indirect exposure to SpaceX's IPO due to direct participation being blocked. According to Times of India, Chinese investors are exploring offshore accounts, proxy stocks, and domestic A-share investments linked to the commercial space sector to gain exposure to SpaceX.