From SpaceX to Psychedelics: Elon Musk’s Circle Makes Its Next Big Bet

Elon Musk is widely recognized for his transformative work in the technology and aerospace sectors. However, a growing number of influential figures within his professional orbit are now turning their attention to a different frontier: the burgeoning field of psychedelic medicine.

According to The Wall Street Journal, a cohort of prominent investors—including former Tesla board member Antonio Gracias—is actively funding companies dedicated to psychedelic-assisted therapies. These organizations are primarily focused on developing treatments derived from compounds such as MDMA and psilocybin. While interest in these medical applications is surging, the industry continues to navigate a complex landscape as regulators evaluate the clinical evidence supporting their efficacy.

These investors, many of whom have deep-rooted ties to Musk’s ventures, are betting on the long-term potential of these substances to treat conditions like depression, anxiety, addiction, and post-traumatic stress disorder (PTSD). Among the notable figures identified in the report are Peter Thiel, Sergey Brin, and Sam Altman, all of whom have provided capital to organizations at the forefront of this research.

Antonio Gracias, a long-time ally of Musk and a former director at SpaceX, stands out as one of the most active proponents of this movement. His investment portfolio now includes companies pursuing MDMA-assisted therapy, alongside support for broader academic research into the therapeutic properties of psychedelics.

Despite the enthusiasm from the tech elite, the path to widespread adoption remains fraught with challenges. In 2024, the U.S. Food and Drug Administration declined an application from Lykos Therapeutics for MDMA-assisted PTSD treatment, citing concerns regarding the supporting clinical data. Nevertheless, the flow of capital into the sector suggests that these investors remain confident in the field’s scientific and commercial future. As billionaire-backed funding continues to fuel clinical studies, psychedelic medicine is increasingly becoming a central topic in mainstream healthcare discussions.