The president of the United States, Donald Trump, will participate on Wednesday in a US-Saudi Arabia investment forum that coincides with the visit of the Saudi crown prince, Mohammed bin Salman, and also with a strengthening of the businesses that the New York magnate and his family maintain with the Arab country.
The event, co-organized by the US-Saudi Arabia Business Council and the Saudi Ministry of Investment, is held at the Kennedy Center in Washington and seeks to formalize or expand agreements in energy, technology, financial services, infrastructure or health.
To the investments committed by Riyadh on American soil, which Bin Salman said today will increase from $600 billion to $1 trillion, there are also new businesses that the Trump family companies have, especially in the real estate field, in the Arabian state.
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The Trump group is currently planning the construction of a Trump Tower in the Saudi city of Jeddah and is also negotiating its inclusion in the development of Diriyah, a $63 billion Saudi government project that seeks to transform this historic town near Riyadh into a luxury destination.
Added to these businesses, which are intertwined with diplomatic activity between Washington and Riyadh and raise doubts about possible conflicts of interest, is the recent purchase of Electronic Arts – the world’s largest video game developer – for $55 billion, in an operation financed by the Saudi public investment fund, the private equity firm Silver Lake and Affinity Partners, the investment fund directed by Jared Kushner, son-in-law of the US president.
Precisely, the aforementioned Saudi fund has already invested $2 billion in Affinity Partners in 2022.
Trump himself insisted today that he has “nothing to do with the family business,” since he signed a revocable trust that leaves, for the moment, control of his companies in the hands of his sons Donald Jr. and Eric Trump.
Furthermore, he noted that, in fact, they “have done very little business with Saudi Arabia” and that he is “sure they could do much more.”
With information from EFE
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