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The Journal.

Fertility Inc.: One Dad, One Hundred Babies

20 Mar 2026

Transcription

Chapter 1: What legal processes are involved in surrogacy?

5.954 - 29.532 Ryan Knudson

It was 2023, and inside an LA family court, clerks were working through some documents. They're what's known as parentage petitions. If you've enlisted a surrogate to carry your baby, then you need a judge to approve your parentage petition in order to actually take the baby home. It's basically the court saying, yes, this kid is legally yours.

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30.608 - 38.158 Katherine Long

Once this child is born, you, the parents, have the parental rights to the child. You are clear to put your name on the birth certificate.

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38.718 - 44.366 Ryan Knudson

That's investigative reporter Katherine Long. And are these usually contentious petitions?

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45.647 - 51.655 Katherine Long

No. Typically, these are, you know, I hesitate to say rubber-stamped, but it's a fairly simple process.

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53.878 - 61.3 Ryan Knudson

But this time, the clerks noticed something. one name kept showing up over and over again.

61.32 - 74.714 Katherine Long

A man named Shu Bo had put his name on at least four applications for parental rights for children who were as yet unborn but were being carried by surrogates.

77.377 - 84.544 Ryan Knudson

The same guy, Shu Bo, was applying for parental rights to at least four babies being carried by surrogates.

85.925 - 89.149 Katherine Long

The clerks thought that was a little strange.

Chapter 2: Who is Xu Bo and why is he notable in the surrogacy industry?

89.329 - 105.208 Katherine Long

It's not terribly common to have that many simultaneous surrogacies. They started poking around and they realized that in addition to those at least four children, Shubo already had or was in the process of having eight other children.

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106.629 - 121.57 Ryan Knudson

That's 12 kids total. 12 kids, all born via surrogacy, all with the same father. This sounds crazy.

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122.673 - 123.935 Katherine Long

It was certainly unusual.

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125.218 - 135.979 Ryan Knudson

When Catherine and her colleagues started digging into the surrogacy industry, they got curious about one particular corner of that business. The corner that serves wealthy Chinese parents.

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136.718 - 152.861 Katherine Long

When we started speaking with people who work in this corner of the surrogacy industry that caters to Chinese parents, something that we kept hearing was concerns about a small number of Chinese parents who seem to want to have extremely large numbers of children.

152.901 - 160.853 Ryan Knudson

Think 10 children, 20 children, even, I kid you not, 100 children.

165.693 - 178.59 Katherine Long

When I first heard about this, I thought this had to be an exaggeration. This had to be made up. But then we started looking into it and it turned out to be true.

184.899 - 190.847 Ryan Knudson

Welcome to The Journal, our show about money, business, and power. I'm Ryan Knudsen.

Chapter 3: What cultural factors influence Chinese parents seeking surrogacy?

190.867 - 239.498 Ryan Knudson

It's Friday, March 20th. Coming up, another story from our investigation into the fertility industry. Today, one dad, 100 babies. In many countries around the world, surrogacy is illegal. So international parents looking to have a baby this way often head to the U.S., These days, about 40% of U.S. surrogacies are for parents from abroad.

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240.339 - 245.146 Ryan Knudson

And about 40% of those parents come from just one country, China.

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246.027 - 258.525 Nathan Zhang

You've got to understand the Chinese policy. A single woman cannot get fertility treatment in China. You cannot do sex selection in China. And gay is not legally recognized in China.

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258.505 - 266.46 Ryan Knudson

That's Nathan Zhang. He runs a business that helps Chinese parents access the U.S. fertility industry, which many consider to be the best in the world.

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Chapter 4: How is the surrogacy industry structured to accommodate wealthy clients?

266.941 - 279.163 Nathan Zhang

For the IVF fertility clinical side, U.S. is like the NBA in the basketball field. Those are the best players, physicians, and lab technicians and biologists, and also the...

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281.422 - 303.953 Ryan Knudson

Nathan's business is basically a concierge service. He hooks Chinese customers up with IVF clinics, egg donors, sperm banks, surrogacy agencies, and lawyers. When he got into the industry about 15 years ago, Nathan says he catered to a pretty niche demographic, rich Chinese business people who'd tried having kids the traditional way and failed.

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306.278 - 330.295 Ryan Knudson

But more recently, he told me, his customer base has expanded. He sees more gay couples now, more single women, and more wealthy clients looking to build big families. So our colleagues have been reporting on this trend of Chinese customers, often who are very rich, who want lots of babies. Have you seen that in your business?

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330.443 - 351.405 Nathan Zhang

Yeah, we saw a lot, just actually traditional Chinese. We already have bigger families, and my grandparents have seven siblings on my father's side, and my grandfather, my grandmother has like six siblings. But it just, that's the Chinese traditional culture.

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353.866 - 369.004 Ryan Knudson

Nathan says that while traditional Chinese culture might be a motivation for some of his clients, he suspects that some of his wealthiest customers are taking their cues from someone else, the wealthiest man in the world. If people don't have more children, civilization is going to crumble.

Chapter 5: What are the costs associated with surrogacy in the U.S.?

369.665 - 373.309 Ryan Knudson

Mark my words. That's Elon Musk at a Wall Street Journal event a few years ago.

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373.809 - 374.991 Katherine Long

Is this why you have so many children?

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376.372 - 377.434 Ryan Knudson

I'm trying to set a good example.

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381.198 - 383.721 Katherine Long

Yeah. You know, gotta practice what I preach.

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385.135 - 398.712 Nathan Zhang

Elon Musk is a model for the Chinese, especially for Chinese entrepreneurs. Elon Musk has 14 kids. I think it's a dramatic inspiration for Chinese businessmen.

398.732 - 419.704 Ryan Knudson

— Nathan told me about this one time, when a single Chinese businessman reached out to him. — I do have a potential client. They want 200 kids. You had a client who said they wanted 200 kids? Yeah. How did you react when they requested that?

Chapter 6: What challenges do surrogates face in this industry?

422.166 - 440.809 Nathan Zhang

I was happy at the beginning because it's a business. Think about, you know, it's a business. But if you come down, you say, hey, first question I ask is, that's a single guy. Who's going to take care of the kid? And he said, my sister. And I said, oh.

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445.16 - 450.528 Ryan Knudson

Nathan didn't take the man as a client. And after that, he says he instituted a new policy.

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451.569 - 475.599 Nathan Zhang

We only help families to have three kids, no more than three kids, and no more than two at the same time. Why is that your policy? I just feel it's a lot of work. I have two kids, and I got a lot of joy by spending time with them. I understand the joy for the family, but you got to be responsible.

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481.408 - 490.641 Ryan Knudson

What Nathan experienced with that potential client isn't an isolated case. When my colleague Catherine Long started calling people in the industry, she heard a few different stories like this.

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Chapter 7: What are the implications of unregulated surrogacy practices?

491.06 - 501.114 Katherine Long

One attorney said his client was a billionaire Chinese parent with 20 children. Another surrogacy agency owner said that he had helped fill an order for over 100 children born through surrogacy.

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501.694 - 504.198 Ryan Knudson

A single person had 100 children through surrogacy?

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504.919 - 521.473 Katherine Long

At least they seem to be trying to, yeah. How is this possible? It's possible because there's a network of companies that are designed to cater to the whims of the very rich that are operating in a space nearly wholly devoid of regulation.

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522.655 - 546.845 Ryan Knudson

Despite the fact that surrogacy is a multi-billion dollar industry, there are no federal laws regulating it. And that's created a thriving cottage industry, catering to almost any desire a wealthy parent could have. It means that nowadays, if you've got the money and you want a bunch of babies born all at once, you can get that in the U.S., and you don't even have to be here to do it.

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547.867 - 560.183 Ryan Knudson

Here's how it works. It all starts, of course, with sperm and an egg. That could be collected in an IVF clinic in, say, Hong Kong or Japan.

561.445 - 571.263 Katherine Long

that would be shipped over to an IVF clinic in the United States. An embryo might be created and then transferred into a surrogate in California.

571.303 - 578.155 Ryan Knudson

Nine months later, that surrogate gives birth, at which point another business steps in.

Chapter 8: How many children does Xu Bo reportedly have, and what are the controversies surrounding it?

579.35 - 592.529 Katherine Long

We've spoken with a few surrogates who've said that the children they carried and gave birth to were ultimately picked up at the hospital, not by the parents, but by nannies or people carrying power of attorney documentation.

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592.569 - 606.69 Ryan Knudson

Those credentialed baby couriers might then deliver the infant to a house. Inside that house could be other surrogate babies, all being cared for by nannies.

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607.396 - 617.581 Katherine Long

They may take care of them for a couple of months. And once the child's travel documents are ready, the nanny will help bring the child back to China and reunite it with his parents.

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619.365 - 630.718 Ryan Knudson

And thanks to the 14th Amendment, that baby would also be a U.S. citizen. How much can this whole process cost?

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631.659 - 639.15 Katherine Long

This can easily cost well over $150,000. We're looking at $200,000 is pretty typical.

641.454 - 687.624 Ryan Knudson

And if people want to do this, there isn't much standing in their way. Other than perhaps a few sharp-eyed clerks at an L.A. courthouse. Up next, the strange case of Shu Boe. Clerks at that L.A. family court knew a few things about Shubo, the guy whose name kept appearing on those parentage petitions.

688.765 - 717.546 Ryan Knudson

He was applying for parental rights to at least four babies, babies who would soon be born via surrogacy. The clerks also knew that Shubo already had or was in the process of having eight more kids via surrogate. That number of children raised a red flag for family court judge Amy Pellman, so the judge called for a hearing. Shubo, it turns out, is a tech entrepreneur who lives in China.

718.147 - 720.749 Ryan Knudson

So he joined the hearing remotely.

720.769 - 741.589 Katherine Long

And the judge starts asking questions and Shubo starts answering them. And he says that ultimately he hopes to have as many as 20 children. He says he wants to have all boys because they're superior to girls. He says that he hopes his children will grow up to inherit his business empire.

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