It's not about having a mistress. Huang is successfully controlling the narrative which is the actual shocker. Do people even realize Elon fucking Musk... exists?! You know, as in being a CEO of SpaceX and Tesla? The guy has more children with affairs than he attends board meetings and nobody ever cared.
It was never about that at all for Huang but about illegally smuggling hardware into China, cozying up to Trump and the Democrats subsequently sweeping the midterms. He fears for a harsh sentence under a different president so he wants this to be over quickly and get a pardon. It's blatantly obvious he controls the narrative to different affairs as soon as people start asking the actual questions and it's painful to see people falling for it.