Trump Speaks at Saudi-Backed Investment Conference in Miami Amid Business Expansion Efforts

Trump Addresses Saudi-Backed Investment Forum
President Donald Trump spoke at an investment conference in Miami on Wednesday, an event sponsored by Saudi government entities. His remarks come as the Trump Organization seeks to expand its real estate footprint in Saudi Arabia and as the administration works to solidify ties with the key Middle Eastern ally.

U.S.-Saudi Relations and Middle East Diplomacy
The speech followed high-level discussions in Riyadh between U.S. and Russian officials on the war in Ukraine. The administration is also seeking Saudi Arabia’s cooperation on various geopolitical issues, including the war in Gaza. Saudi Crown Prince Mohammed bin Salman pledged to invest $600 billion in the U.S. over the next four years, according to a phone call with Trump shortly after he took office in January.

The FII PRIORITY Summit in Miami Beach is marketed as a platform for “thought leaders, investors, and policymakers” to discuss economic growth and innovation. The Saudi Public Investment Fund (PIF), led by the crown prince, is the primary financial backer of the event, along with Saudi government entities such as the Ministry of Investment and Riyad Bank.

Saudi Investments Tied to Trump Associates
The Saudi PIF previously invested $2 billion in former White House adviser Jared Kushner’s private equity firm after Trump left office in 2021. The fund is also a major backer of LIV Golf, which has hosted multiple tournaments at Trump-owned golf courses. These connections raise concerns about potential conflicts of interest in Trump’s dealings with Saudi Arabia.

Ethics Concerns Over Trump’s Business Ties
Trump’s financial interests in Saudi Arabia have drawn scrutiny, with critics questioning whether his speech at the summit was influenced by his business dealings.

“You kind of have to question when you see something like this—Is this being done to advance Trump’s business interests, or is there a reason America wants a president there?” said Jordan Libowitz, vice president of communications for Citizens for Responsibility and Ethics in Washington (CREW).

Trump’s Speech Highlights U.S. Business Growth
During his address, Trump promoted his real estate ventures in Miami before acknowledging Middle Eastern leaders. He specifically praised Saudi Arabia, referring to it as a “special place with special leaders.” He also highlighted the presence of Princess Reema Bandar Al-Saud, the Saudi ambassador to the U.S., who was seated next to billionaire Elon Musk.

Trump commended Saudi Arabia for its role in the Russia-Ukraine peace talks and criticized Ukrainian President Volodymyr Zelenskyy as a “dictator.” He also noted the crown prince’s role in securing the recent release of Marc Fogel, an American detained in Russia.

Pledges on Corporate Tax Cuts and Spending Reduction
Trump reiterated his plan to offer lower corporate tax rates to businesses manufacturing in the U.S.

“I come today with a simple message for business leaders from all across the nation and around the world,” Trump said. “If you want to build the future, push boundaries, unleash breakthroughs, transform industries, or make a fortune, there’s no better place than the current and future United States of America under a certain president named Donald J. Trump.”

He also praised Musk’s cost-cutting efforts at his companies and floated the idea of allocating 20% of government savings toward American citizens and another 20% to reduce the national debt. However, with federal debt surpassing $36 trillion, the financial impact of such savings remains uncertain.

White House Defends Trump’s Presence at Event
The Saudi-backed summit’s organizers and the Saudi embassy did not respond to requests for comment. A White House official stated that Trump’s speech was intended to “encourage investment in the United States.”

Before taking office, Trump transferred the Trump Organization’s daily operations to his children and placed his assets in a trust. However, he declined to fully divest from his business holdings, raising ongoing concerns about conflicts of interest in his foreign dealings.

Trump Organization Expands in Saudi Arabia
In December, Eric Trump, executive vice president of the Trump Organization, announced plans for a Trump Tower in Jeddah. He also confirmed discussions about a Trump-branded property in Riyadh.

“One of them will definitely be a tower,” Eric Trump told Reuters, though he did not provide further details.

Jared Kushner, Trump’s former Middle East adviser, has maintained a close relationship with Crown Prince Mohammed bin Salman, despite U.S. intelligence findings linking the crown prince to the 2018 murder of Washington Post columnist Jamal Khashoggi.

When asked about the Saudi PIF’s investment in his private equity firm, Kushner dismissed concerns about conflicts of interest and expressed skepticism over the U.S. intelligence report on Khashoggi’s killing.

“Are we really still doing this?” Kushner responded when asked if he accepted the findings of the U.S. intelligence report.

LIV Golf and Saudi Influence in Sports
The Saudi-funded LIV Golf league, which has held multiple events at Trump golf courses, is scheduled to host a tournament at Trump National Doral in April. Trump has repeatedly deflected criticism of his involvement with LIV Golf, even casting doubt on Saudi Arabia’s ties to the 9/11 attacks.

Human Rights Watch has labeled Saudi Arabia’s investment in LIV Golf as a form of “sportswashing” to distract from its human rights record. Meanwhile, Trump recently met with PGA Tour Commissioner Jay Monahan to discuss the proposed merger between LIV Golf and the PGA Tour, a deal that is under federal scrutiny.

Experts Warn of Ethical and Security Risks
Ethics experts argue that Trump’s business dealings create potential conflicts of interest in his foreign policy decisions.

“You’re not going to be able to do major business deals in an authoritarian country unless that country wants you to,” said Libowitz.

While federal ethics laws prohibit government officials from engaging in matters that could financially benefit them, presidents are not bound by those restrictions.

“The president just doesn’t have the same limitations as other federal employees,” said Jessica Tillipman, associate dean for government procurement law at George Washington University.

Still, she noted that presidents traditionally separate themselves from personal business interests.

“We’ve seen no indication that the president intends to separate himself from his existing financial interests,” Tillipman added.

Scott Amey, general counsel for the Project on Government Oversight, echoed concerns over Trump’s refusal to divest from his business holdings.

“Trump has not properly divested from his business holdings and recently announced a new hotel in Saudi Arabia,” Amey said. “Every meeting involving current or potential business partners or investors is a conflict. These entanglements raise numerous ethics concerns, as well as national security concerns, because we are talking about Saudi interests, where there is even less of a distinction between the ruling family and their businesses.”

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