Conflicts of Interest and Personal Economic Ties Between the Trump Administration and Saudi Arabia

The British newspaper The Telegraph has shed light on former U.S. President Donald Trump’s prioritisation of relations with Saudi Arabia over traditional alliances with Europe and the UK, exposing conflicts of interest and personal economic ties between both sides.

According to the newspaper, the Trump administration’s unwavering support for U.S.-Saudi relations was made crystal clear during last week’s investment summit in Miami.

The streets of Miami witnessed heavy congestion as crowds awaited Trump’s motorcade. The former president delivered a speech lasting over an hour at the Future Investment Initiative (FII) Priority conference, a smaller offshoot of the original Davos in the Desert summit held in Saudi Arabia.

Trump became the first U.S. president to address the FII Institute, and he did not attend alone. Accompanying him were prominent figures such as Susie Wiles, his chief of staff; Jared Kushner, his son-in-law and senior advisor; Steven Witkoff, his Middle East envoy; and Michael Waltz, his national security advisor.

Elon Musk was also in attendance, whom Trump referred to as his “first friend.” Musk was seated next to Saudi Arabia’s ambassador to Washington, Princess Reema bint Bandar Al Saud.

Saudi Investment in the U.S.During a phone call in January—Trump’s first with a foreign leader after assuming office—Saudi Crown Prince Mohammed bin Salman informed the former president of his intent to invest $600 billion in the U.S. over the next four years.

Trump later stated that he would ask the Crown Prince to raise this amount to $1 trillion. The Saudis appear willing to oblige, as their delegation at the FII summit included high-profile figures such as Yasir Al-Rumayyan, governor of the Public Investment Fund (PIF), and Khalid Al-Falih, Minister of Investment, who confirmed that the United States remains Saudi Arabia’s top investment destination.

Additionally, Eric Trump, the former president’s son, announced plans in December to build a Trump Tower Jeddah.

Lisa McGeough, CEO of HSBC in the U.S., reaffirmed Saudi Arabia as the bank’s top priority, revealing that 6,000 employees would be relocated to a new headquarters in Riyadh’s King Abdullah Financial District.

Political and Economic ImplicationsDespite disputes over issues such as Gaza, oil prices, and relations with China, Trump and Crown Prince Mohammed bin Salman remain focused on economic cooperation.

Meanwhile, shifting U.S. foreign policy could leave UK Prime Minister Keir Starmer sidelined, as Britain faces the risk of being overshadowed by Saudi Arabia in Washington’s strategic priorities.

Richard Haass, a senior advisor at Centerview Partners, remarked: “Traditional allies no longer receive special treatment simply because they are old allies. That no longer holds much value, especially in Europe.”

Haass further argued that the U.S.-Saudi relationship is unlikely to be as “automatic” as the historical U.S.-UK partnership, which was founded on shared cultural and institutional similarities.

However, he questioned whether a “special relationship” still exists between the U.S. and Britain today, stating: “In this era, I’m not sure if any special relationships remain at all.”