Key figures connected to Elon Musk's companies, Tesla and SpaceX, are significantly investing in the burgeoning psychedelic drug market. Antonio Gracias, a former Tesla director and current SpaceX board member, has invested $1 million in the Multidisciplinary Association for Psychedelic Studies (MAPS) in 2020 and committed another $16 million to Harvard for psychedelics research in 2023. Gracias is also linked to Lykos Therapeutics, the for-profit pharmaceutical arm of MAPS, which raised $100 million as it seeks FDA approval for MDMA-assisted psychotherapy for PTSD. This approval could grant Lykos exclusive U.S. rights to sell MDMA for therapeutic use for several years, potentially turning it into a multibillion-dollar enterprise.
This trend is part of a broader movement within Silicon Valley, where tech leaders are increasingly interested in the therapeutic and commercial potential of consciousness-altering drugs. Founders Fund, a venture capital firm with investments in SpaceX, holds a stake in Compass Pathways, which researches psilocybin, and its co-founder Peter Thiel has invested in Atai Life Sciences, a company developing psychedelics for mental health. The psychedelic drug market is projected to grow from $4.9 billion in 2022 to $11.8 billion by 2029.
The involvement of Musk's associates comes amidst reports that Musk himself has used illegal drugs, including LSD, cocaine, ecstasy, mushrooms, and ketamine, raising concerns among executives and board members at Tesla and SpaceX about potential harm to his companies. Despite corporate policies against drug use, some former Tesla workers have reported a high tolerance for cannabis and psychedelic use outside of work hours, with some even feeling encouraged by Musk's occasional drug-related jokes on social media.
