Since leaving the White House in 2021, former President Donald Trump and several of his close allies have maintained significant connections with the Gulf's wealthiest nations, establishing high-value business deals and engaging in discreet diplomatic discussions. Here’s a closer look at the partnerships and interactions between Trump, his allies, and Gulf leaders.
Trump’s Engagements and Business Partnerships with the Gulf:
In September, Trump hosted both Qatar's ruling emir and the UAE's president at his Mar-a-Lago residence in Florida, coinciding with their official U.S. visits. Jared Kushner, Trump’s son-in-law, has had ongoing dialogues with Saudi Crown Prince Mohammed bin Salman (MBS) about U.S.-Saudi diplomatic relations. Kushner was also present at the 2022 World Cup held in Qatar. The Trump Organization has expanded its business interests across the Gulf, including deals with the UAE, Saudi Arabia, and Oman. In July, it announced a partnership with Saudi real estate developer Dar Global to build a Trump-branded tower in Dubai, as well as plans for a similar development in Jeddah, Saudi Arabia. In Oman, Dar Global reached an agreement with the Trump Organization in 2022 to use the Trump name on a $4 billion project featuring a golf course, luxury hotel, and residential villas.Allies’ Gulf Ties and Financial Ventures:
Dina Powell McCormick, who held various roles in the Trump administration, including deputy national security adviser, was among financial experts working on Saudi Aramco’s 2019 IPO. Now an executive at BDT & MSD Partners, she attended Saudi Arabia’s Future Investment Initiative conference in October 2024, a major event for promoting business deals. Ken Moelis, founder of Moelis & Company, who also worked on Saudi Aramco's IPO, participated in the Future Investment Initiative conference in 2024 as well. Former Treasury Secretary Steve Mnuchin has made multiple visits to the Gulf, including Qatar, Saudi Arabia, and the UAE, since 2021. His firm, Liberty Strategic Capital, has received substantial investments from Abu Dhabi’s Mubadala sovereign wealth fund and SoftBank's Vision Fund. Congress has reported that Saudi Arabia invested $2 billion in Jared Kushner’s private equity fund, Affinity Partners, established after his White House tenure. Additionally, sovereign wealth funds from the UAE and Qatar have invested millions in the fund. Eric Trump, one of Trump’s sons, shared plans in July for the Trump Organization to expand its Middle East ventures further. Donald Trump Jr., Trump's eldest son, recently visited Oman and Dubai in June, highlighting the family's interest in strengthening ties with the Gulf.Commodities Under Pressure as Investors Factor in Trump’s Win in U.S. Presidential-Race
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