Billionaires Including Musk And Zuckerberg Stopped Trump’s Big AI Announcement—Here’s Why

BreakingBusinessBillionaires Including Musk And Zuckerberg Stopped Trump’s Big AI Announcement—Here’s WhyBySara Dorn,Forbes Staff. Sara Dorn is a Forbes news reporter who covers politics.Follow AuthorMay 22, 2026, 10:13am EDTToplinePresident Donald Trump reportedly pulled a new artificial intelligence executive order planned for Thursday at the last minute under pressure from industry executives, including billionaires Elon Musk and Mark Zuckerberg and former White House AI and crypto czar David Sacks. SpaceX CEO Elon Musk follows U.S. President Donald Trump on the red carpet upon arrival at Beijing Capital International Airport on May 13, 2026 in Beijing, China for Trump's meeting with President Xi Jinping in Beijing. (Photo by Alex Wong/Getty Images)Getty ImagesKey FactsSacks told Trump the new protocols established in the executive order could slow the launch of new AI products, give China an advantage and be manipulated by future administrations that might want more controls on the industry, The Washington Post reported, citing an unnamed senior administration official. Musk and Zuckerberg also spoke directly with Trump and expressed concerns that the order could negatively impact the U.S. economy, according to The Post.The White House abruptly cancelled the executive order signing, to which multiple tech executives were invited, hours before it was set to begin.Trump told reporters he called off the order because he “didn’t like” the draft, adding “we’re leading China, we’re leading everybody, and I don’t want to do anything that’s going to get in the way of that lead.” The order stopped short of requiring government testing or licensing for new AI models and would have reportedly established an unofficial protocol for AI companies to give the government a 90-day notice on new technology so it could be scanned for vulnerabilities, including hacking and foreign interference, The Washington Post reported.The industry leaders reportedly worried that although...