The Ritz Carlton in Riyadh was bustling on Tuesday as dignitaries and business leaders gathered for the U.S.-Saudi Investment Forum, eagerly anticipating the arrival of U.S. President Donald Trump and Saudi Crown Prince Mohammed bin Salman.
The forum attracted a roster of high-profile executives, including tech luminaries like Elon Musk, Nvidia’s Jensen Huang, and BlackRock’s Larry Fink, among others.
As the event unfolded, security personnel ushered a diverse crowd, from billionaires to junior consultants, into the plenary room, where they waited while the two leaders held their meetings.
“We were confined in the plenary for three hours before they arrived,” remarked Tarik Solomon, the head of the American-Saudi business chamber, in an interview with Finance Newso. “Nothing epitomizes diplomacy like strategic patience.”
Guests reported lighthearted moments as top executives resorted to sitting cross-legged on the floor due to a lack of seating. One anonymous attendee commented, “They placed the CEOs on stage for the duration, and they had nowhere to sit. So they were literally on the ground, legs crossed, engaging with each other, which was quite an amusing sight.”
Despite the disorganization, the attendee noted an electric atmosphere when Trump took the stage.
“Being in that room was incredible. Regardless of opinions about Trump, he commands attention,” they added.
Trump took the stage solo, with Lee Greenwood’s “Proud to be an American” echoing around the room. He then delivered a speech lasting nearly 50 minutes, discussing U.S. relations with the Middle East while largely focusing on his domestic agenda and legacy.
“I felt like I was at my first Trump rally,” another attendee remarked, maintaining anonymity due to professional guidelines.
During his address, Trump lavished praise on Saudi Arabia, a nation he has nurtured close ties with since his first official visit there in 2017.
“Riyadh is evolving into a global hub for business, culture, and technology,” he stated.
Addressing the crown prince directly, Trump asked, “Mohammed, do you sleep at night? How do you manage it?” He commended Bin Salman for defying critics and achieving remarkable progress over the past eight years.
The audience responded with applause as Trump declared, “He is your greatest representative. If I didn’t appreciate him, I’d be out of here in a flash. You all know that. He knows me well. I genuinely like him, perhaps too much.”
Bin Salman, smiling, frequently placed his hand on his heart as a sign of gratitude during Trump’s remarks.
“That’s why we give so generously, you know? Too generously,” Trump added with a grin. “I genuinely like you too much.”
Pride over the crown prince’s relationship with Trump resonated among Saudis on social media, drawing a sharp contrast to the cooler stance adopted by the Biden administration.
“Trump and MBS? It’s a political friendship for the ages,” noted one summit participant, referencing the crown prince’s initials.
Significantly, the forum highlighted an announcement of $600 billion in Saudi investments in the U.S., including a historic deal valued at $142 billion for American military equipment.
“The overall sentiment was highly optimistic,” summarized Solomon from the American Chamber of Commerce. “The right individuals were present, and the agreements felt authentic this time, likely due to the confirmation of over $300 billion in substantial deals rather than merely showcasing eye-catching $1 billion headlines.”
