Elon Musk may spend his time in Washington, D.C., but he stays with Donald Trump, including joining the president’s journey to the Middle East.
Musk and several prominent figures in U.S. businesses will spend a luxurious lunch with Trump and the Saudi crown prince at the Saudi U.S. investment forum in Riyadh on Tuesday.
Tesla’s founder traveled to Saudi Arabia independently from Air Force One. However, he was listed as one of the speakers of the Trump forum.
Who will be there on Wall Street and Silicon Valley, including Openai CEO Sam Altma, Musk’s brother Kimbal, FIFA president Gianni Intantino, LinkedIn’s Reid Hoffman, Amazon’s Andy Jassy, ​​Andy Jassy, ​​Google’s Ruth Porat and Boeing’s Kelly Ortberg.
When Trump pushes Saudi Arabia to invest in the United States, the showcase of American business giants is emerging.
CEO BlackRock, Citigroup, IBM, Coca-Cola, Delta Airlines, American Airlines and United Airlines are also on the guest list.
Tesla founder Elon Musk will join President Trump in Saudi Arabia
But the party also showed a close connection between Wall Street and Saudi oil-infected wealth.
A strong business relationship between many American companies and Riyadh is in place.
Trump’s family and Musk himself also have cross-sectional interests in the region.
Musk opened a Tesla dealership in Kingdom in April. His relationship with the Saudi royal family has improved since Musk’s high-profile role in the Trump administration.
State-backed funds from Qatar and the United Arab Emirates are the leading investors in Musk’s $6 billion fundraising campaign, The Wall Street Journal reported.
In addition, an UAE ministry announced in March that it had established a multi-year partnership with Musk’s brother Kimball for his drone lighting performance company. Kimball Musk will also be at lunch on Tuesday.
Musk He will spend more time on his business interests and less time working in the Ministry of Efficiency of the Government.
But his close ties with Trump continue. When the president announces a large-scale economic investment from the Saudis, he will be in the room.
President Donald Trump was welcomed by Saudi Crown Prince Mohammed Bin Salman Al Saud when he arrived in Riyadh
Musk’s brother Kimbal will also be held at an investor lunch in Saudi Arabia
President Donald Trump (second from left) meets Saudi Crown Prince Mohammed bin Salman Al Saud (second from right); Secretary of State Marco Rubio (left) joins them
Trump hopes to earn $1 trillion in Saudi investment. Saudi Crown Prince Mohammed bin Salman will report to provide $600 billion.
The president may push for more.
“We’re very nice to them,” he said Monday.
Washington and Riyadh invest heavily in each other, mainly driven by oil trade and security cooperation. Many U.S. and Saudi companies have joint ventures.
The United States needs Saudi oil. The Saudis bought a lot of military power from US defense contractors.
Trump arrived in Riyadh on Tuesday morning and was welcomed by the MBS because the Saudi crown prince is well-known.
During Trump’s first semester, the two formed a close relationship.
Saudi Arabia already has huge investments in the United States, including more than $100 billion in Treasury bills and $2 billion in investment funds, managed by Trump’s son-in-law Jared Kushner.
Monarchs or royal funds from Saudi Arabia, the UAE and Qatar have invested more than $3.5 billion in Kushner’s fund.
Kushner did not join Trump’s trip.
Trump’s family has also invested heavily in the Middle East. The Trump-owned company is run by his children Eric and Don Jr.
Over the past year, Trump-branded residential towers have been launched in Dubai and Jeddah. A developer in April unveiled Trump’s luxury golf resort in a state-owned project in Qatar.
Trump will visit Qatar and the United Arab Emirates later this week.
