Stern Lobbied Epstein on Lucid Motors and Faraday Future Investments (2017-2019)

In May 2017, David Stern—advisor to Prince Andrew and Asia Gateway/AGC Capital executive—pitched Jeffrey Epstein on acquiring a 32% stake in Lucid Motors at a reported $300 million, citing a “fire sale” as Jia Yueting controlled the majority. The deal did not materialize; Lucid closed its Series D in August 2018 with over $1 billion from Saudi Arabia’s Public Investment Fund. Stern also targeted Faraday Future, writing in April 2017 that CEO Jia Yueting faced cash constraints and FF was “starving,” seeking strategic backing. He later backed Canoo alongside Li Botan and Michael Chiang, but no investment from Epstein or Canoo materialized. Epstein, convicted for sex offenses, maintained a decade-long advisory relationship with Stern, leveraging contacts in China, the UAE, and beyond to promote opportunities. The DOJ’s recent disclosures highlight Epstein’s role in funneling high-tech deal flow to Stern’s venture-focused interests.