In a striking show of corporate diplomacy, nearly three dozen American business moguls landed in Riyadh to accompany President Donald Trump during his grand state visit to Saudi Arabia on Tuesday. Welcomed with regal ceremony and Arabian horses, Trump’s arrival at the Royal Court was not just a diplomatic gesture—it was a signal of tightening ties between U.S. business interests and the Saudi monarchy.
Executives from tech giants, Wall Street powerhouses, defense conglomerates, and major energy firms gathered for a high-profile luncheon with Trump and Crown Prince Mohammed bin Salman. Among them were Elon Musk and his brother Kimbal, alongside the CEOs of Google, OpenAI, Nvidia, Uber, BlackRock, and Blackstone—each representing the upper echelon of American enterprise.
This show of corporate solidarity, rarely seen on a presidential foreign tour, underscores the evolving dynamic between the Trump administration and the U.S. business community, many of whom had once kept their distance.
“This reflects how international powers engage with a president whose global business ties are deeply entwined with policymaking,” said Donald Sherman of Citizens for Responsibility in Washington, a watchdog group actively suing the Trump administration for alleged ethical violations.
The Saudi invitation to American business leaders was strategic, aimed at demonstrating the kingdom’s willingness to fuel U.S. economic ambitions under Trump’s leadership. According to officials familiar with the planning, the visit focused heavily on expanding U.S. trade and investment.
During an investment forum, Trump declared, “There’s no better place to build the future than in the United States under my leadership.”
Major Deals Announced
In a move hailed by both sides, Trump signed a $600 billion investment package between Saudi Arabia and American companies. This included $142 billion in defense contracts spread across more than a dozen U.S. military firms. White House officials pointed to a 22% surge in investment during Trump’s first quarter as evidence of growing global confidence in his economic leadership.
Attendees included major campaign contributors like Sam Altman (OpenAI) and Dara Khosrowshahi (Uber), who each donated $1 million to Trump’s inaugural fund. Media mogul Patrick Soon-Shiong and DOGE member Antonio Gracias, closely tied to Musk, also made appearances.
Controversy stirred when Trump later mentioned plans to accept a $400 million aircraft from the Qatari royal family as a donation to his future presidential library. Critics questioned the ethics, but Trump defended the move, calling it “a smart gesture.”
The Saudi-American Business Web
Major financial figures such as Larry Fink (BlackRock) and Stephen Schwarzman (Blackstone) have longstanding partnerships with the Saudi sovereign wealth fund, which has increasingly shaped the region into an investment epicenter. Many attendees were regulars at Saudi-sponsored forums like the Future Investment Initiative (FII), seen as essential networking events for global capital.
“This was about more than politics—it was about securing deals and preserving influence,” said one business advisor familiar with Saudi strategy.
Notable Absentees and Political Aspirations
LinkedIn co-founder and Democrat donor Reid Hoffman, despite being listed by the White House, did not attend. His team quickly corrected the record online.
One surprising attendee was Miami Mayor Francis Suarez. Term-limited this November and formerly a GOP presidential hopeful, Suarez is reportedly eyeing an ambassadorial role in Saudi Arabia. Suarez also has ties to the region through his legal work and role in hosting the FII conference in Miami earlier this year.
A spokesperson clarified that his trip was privately funded and served to “enhance public-private collaboration.”
AI and Tech Dominate the Agenda
The summit’s tech delegation focused heavily on AI, cloud computing, and chipmaking. The U.S.-Saudi partnership unveiled a series of tech commitments totaling $80 billion. Google and the Saudi Public Investment Fund announced the launch of an AI Hub to drive adoption across Saudi industries. Nvidia pledged to build “AI factories of the future,” while Qualcomm, AMD, and AWS entered strategic collaborations with Saudi AI startup Humain.
As the Trump administration leans into economic diplomacy, this Riyadh visit marks a bold return to global stagecraft—one powered as much by market ambitions as by political calculus.