High-Level Meeting and Ongoing Business Interests
On Tuesday, President Trump will have a discussion with Saudi Crown Prince Mohammed bin Salman, focusing on critical national security issues with a foreign official who is also involved in an extensive building initiative, referred to as Diriyah, which is negotiating a potential agreement with the Trump family business.
Regardless of whether that agreement materializes, the Trump family’s real estate and other ventures in Saudi Arabia have thrived during his second term.
Since Mr. Trump’s election last year, Dar Global, a business associate of the Trump Organization with strong connections to the Saudi government, has reported at least four projects branded with the Trump name in Saudi Arabia. Other business arrangements involving the Trump family and the Saudi government existed prior to the election.
When asked for a statement, White House representative Karoline Leavitt said, “The President and his family have never been involved, nor will they engage, in conflicts of interest.”
In response to inquiries about conflicts of interest during a session in the Oval Office on Tuesday, President Trump asserted that he had “no involvement with the family business.”
“What my family undertakes is acceptable. They operate in various markets,” he remarked. “They have conducted very little business with Saudi Arabia, actually; I believe they could engage much more.”
Trump Family Business Ties in Saudi Arabia
Diriyah Project Negotiations
Among the Trump family’s business connections in the kingdom are:
Diriyah: The Trump Organization is currently engaged in negotiations that could lead to a Trump-branded property within one of Saudi Arabia’s largest government-controlled real estate developments. Jerry Inzerillo, the CEO of the Saudi company directing the $63 billion venture and a long-standing acquaintance of Mr. Trump, mentioned in an interview,
“Nothing has been announced yet, but it will be soon.”
The board of Diriyah is chaired by Prince Mohammed himself.
Trump-Branded Developments in Saudi Arabia
Trump-branded projects: A Trump tower is slated for construction in the coastal city of Jeddah, with two additional projects identified in Riyadh, the capital of Saudi Arabia. In September, Dar Global revealed plans to establish a “Trump Plaza” development in Jeddah, characterizing it as a $1 billion project featuring “luxurious residences,” office space, and a “green corridor reminiscent of Central Park.”
Golf and LIV Golf Events
Golf: The LIV Golf league, financially supported by the Saudi sovereign wealth fund, has conducted tournaments at the Trump National Doral Golf Club located near Miami.
Jared Kushner’s Saudi Investment Deals
Jared Kushner: The sovereign wealth fund of Saudi Arabia has invested $2 billion into a fund managed by Jared Kushner, Mr. Trump’s son-in-law, who fostered strong relationships with Prince Mohammed during the president’s first term. In September, Mr. Kushner’s firm, in collaboration with the Saudi sovereign fund and another investor, reached an agreement to take the video game company Electronic Arts private. This deal is estimated to have a valuation of about $55 billion. If finalized, it would be the largest leveraged buyout in history.
Dar Global and the Trump Organization did not provide any comments when contacted.
Mr. Kushner, on his end, defended his business dealings during a CBS “60 Minutes” segment last month with Steve Witkoff, the Middle East peace envoy for Mr. Trump — a real estate entrepreneur whose family also has considerable business stakes in the Gulf region.
Justification of Business Connections
“What is often referred to as conflicts of interest, Steve and I view as valuable experience and reliable relationships we have built around the globe,” stated Mr. Kushner.
Royalties and Economic Advantages
Every real estate project associated with the Trump brand that Dar Global embarks on results in royalty payments for the use of the Trump name. According to Mr. Trump’s financial report, Dar Global remitted $21.9 million in such royalties to the Trump Organization last year. A portion of these funds reaches the president directly.
“Branding and licensing agreements serve as mechanisms for the Saudi government to transfer payments straight to the Trump family in return for no actual work or services rendered,” remarked Robert Weissman, co-president of Public Citizen, a government ethics advocacy group that has been sharply critical of the Trump administration. “These agreements are not merely ethically questionable — they inherently undermine U.S. foreign policy.”
Latest Trump-Branded Venture in the Maldives
Dar Global’s latest announcement of a Trump-branded project was made on Monday:
A Trump hotel situated in the Maldives. This development will utilize a “tokenized” model — enabling investors to acquire fractional ownership of the property through digital tokens that can be traded on a blockchain system.
Such a model could significantly complicate the process of identifying investors involved in the project, thereby creating further chances for foreign entities to contribute to enriching the Trump family and its business associates.