Prince Andrew & Epstein: EV Startup Investment Link Revealed
The recent release of over 3 million documents related to Jeffrey Epstein by the Department of Justice has unearthed a surprising connection between the convicted sex offender, Prince Andrew, and the burgeoning electric vehicle (EV) startup scene. Emails reveal that David Stern, a close advisor to Prince Andrew, actively sought to involve Epstein in investment opportunities within the EV sector, including early-stage discussions with Lucid Motors, Faraday Future, and Canoo. This investigation by GearTech delves into these connections, exploring the dynamics of Silicon Valley investment during the EV boom and the shadowy network surrounding Epstein and his associates. The story highlights a period of intense activity in the EV market, fueled by Tesla’s success, and the opportunistic attempts to capitalize on the emerging industry.
Lucid Motors and the Search for Funding
In 2017, Lucid Motors, now a prominent player in the EV market, faced significant hurdles in securing its Series D funding round. A potential deal with Ford was on the table, but Jia Yueting, founder of rival EV startup Faraday Future, held a substantial 30% stake, effectively blocking new investors. David Stern saw an opening to break this deadlock, and his solution involved bringing Jeffrey Epstein into the picture.
“Ford will likely be lead in $400m Series D in Lucid. Big strategic move,” Stern wrote to Epstein in emails released last week. He further noted that Jia “has massive cash issues” at Faraday and needed to “sell now to make payroll for his other business.” This correspondence, part of the DOJ’s extensive disclosure, demonstrates Stern’s proactive efforts to leverage Epstein’s network and potential financial resources.
A Pattern of Pitching EV Startups
The documents reviewed by GearTech show that Lucid Motors wasn’t the first, nor the last, EV startup Stern pitched to Epstein. The late 2010s were a period of rapid growth and investment in the EV and autonomous vehicle sectors, spurred by Tesla’s breakthrough success and Google’s advancements in self-driving technology. Stern appears to have been eager to exploit this burgeoning deal flow.
Beyond Lucid and Faraday Future, Stern also explored investment possibilities in Canoo. While it’s unlikely Epstein directly invested in any of these companies – Lucid ultimately secured over $1 billion from Saudi Arabia’s sovereign wealth fund in late 2018, and Faraday received a major investment from Evergrande – the discussions reveal the extent of Epstein’s connections within Silicon Valley startups. Epstein himself stated in a 2018 message that he had no “direct” or “indirect” interest in Canoo.
Epstein’s Silicon Valley Connections
These revelations offer a deeper understanding of Epstein’s extensive network within the tech industry prior to his arrest and death in 2019. The correspondence provides a unique snapshot of a relationship that had previously remained largely unexplored. It wasn’t simply about financial investment; it was about access, influence, and potentially, leveraging those connections for other purposes.
David Stern: The ‘Ghost’ Businessman
Prince Andrew, Duke of York, is pictured at the opening of Pitch@Palace 6.0 with David Stern seated next to Queen Elizabeth II. (Image credits: Getty/John Stillwell). Stern is a relatively obscure figure, with limited publicly available information prior to the release of these documents. He is perhaps best known for his role as the director of Prince Andrew’s Pitch@Palace startup contest, which was ultimately shut down following the exposure of Andrew’s ties to Epstein. Andrew himself reportedly referred to Stern as a “ghost” in a 2010 email.
Early Connections and AGC Capital
Stern first approached Epstein in 2008, just before Epstein’s guilty plea in Florida for soliciting a minor for prostitution. Stern was establishing a fund, AGC Capital, aimed at capitalizing on the economic growth in China, and sought Epstein’s investment. His background includes positions at Siemens, Deutsche Bank, and Asia Gateway, where he advised blue-chip companies and the Chinese government on investment strategies.
These roles facilitated connections with influential Chinese businessmen, including Li Botan, the son-in-law of a high-ranking Chinese official. Li Botan later became a founding investor in Canoo alongside Stern. While it’s unclear if Epstein invested in AGC Capital, the two men maintained contact, and Stern continued to pitch various business ventures to Epstein in the following years.
A Developing Relationship
The initial interactions between Stern and Epstein were formal and often critical, with Epstein demanding precision and thoroughness in business proposals. “[I]f you want to do real deals you have to be precise and careful„ every error is a fortune,” Epstein wrote to Stern, adding, “[Y]our first grade is an F.”
However, the relationship deepened over time. By 2016, Stern felt comfortable enough to ask Epstein to be the godfather of one of his children, a request Epstein declined, citing a prior commitment. The documents reveal a decade-long collaboration, with Stern consistently presenting Epstein with potential investment opportunities across diverse industries.
Beyond EVs: A Range of Ventures
David Stern with Duchess of York, Sarah Ferguson, and former Prince Andrew. Image credits: Department of Justice files released in February 2026.
Stern’s pitches to Epstein extended far beyond the EV sector. He sought Epstein’s involvement in assisting Sarah Ferguson with her financial difficulties, and explored ventures such as starting a “secret” fund focused on Chinese businesses (JEDS or “Serpentine Group”), acquiring farmland in Russia, purchasing and taking public Al-Jazeera, acquiring EMI, and even buying an undersea cable company. They even considered a buyout of Deutsche Bank, which had a long-standing relationship with Epstein.
Leveraging Connections
Stern frequently highlighted his connections with prominent figures in his communications with Epstein. He suggested Epstein facilitate an introduction between Jes Staley, then head of J.P. Morgan’s investment bank, and Malaysian politician Anwar Ibrahim, believing it could be lucrative for J.P. Morgan. He also claimed to have dined with Jack Ma, had a planned meeting with UAE president Mohamed bin Zayed Al Nahyan, and maintained a friendship with the grandson of former Chinese president Jiang Zemin.
The EV Push: Faraday Future and Canoo
By 2017, Stern focused on the burgeoning EV market. He attempted to arrange a meeting between Epstein and Faraday Future founder Jia Yueting to discuss potential investment. Stefan Krause, Faraday Future’s former BMW and Deutsche Bank CFO, directly appealed to Epstein in April 2017, describing the company as a “great story” hampered by Jia Yueting’s financial issues. Krause saw an opportunity to “build a better Tesla.”
These conversations seemingly stalled, leading Stern to pitch the Lucid Motors investment in May 2017. A pitch deck from a fund Stern created, Monstera, proposed acquiring a 32% stake in Lucid through Yueting Jia’s holdings, potentially for around $300 million. He described it as a “fire sale,” anticipating a subsequent investment from Ford.
Ford ultimately withdrew, and Lucid secured its Series D funding from Saudi Arabia’s Public Investment Fund in August 2018. Following Krause’s departure from Faraday Future, he founded Evelozcity (later Canoo), with Stern as one of the initial backers, contributing $1 million alongside larger investments from Li Botan and Michael Chiang. Epstein was informed about Canoo in June 2018, responding with a simple “fun.”
Epstein’s Role as a Connector
Despite his lack of direct investment in these companies, Epstein actively leveraged his network on Stern’s behalf. He emailed Deepak Chopra in May 2018, suggesting a connection with the Canoo team due to their plans to integrate health sensors into the vehicles. He also connected Stern with Sheikh Jabor al Thani, a member of the Qatari royal family, and Eduardo Teodorani, a senior executive at CNH.
In March 2019, Stern forwarded an article about Warren Buffett’s views on electric cars to Epstein, asking, “How do we get him ??”. This exchange underscores Stern’s continued reliance on Epstein’s network and influence even as Epstein’s legal troubles mounted.
Implications and Future Scrutiny
The revelations surrounding Stern and Epstein’s involvement in the EV startup scene raise questions about the ethical considerations and due diligence practices during a period of rapid investment and growth. The connections highlight the complex web of relationships within Silicon Valley and the potential for questionable actors to exploit emerging industries. As more documents related to Epstein are released, further scrutiny is likely to uncover additional connections and shed light on the full extent of his influence within the tech world. The story serves as a cautionary tale about the importance of transparency and accountability in the pursuit of innovation and investment.