Trump to Speak at Saudi-Backed Investment Conference Amidst Business Ties Concerns

President Trump will deliver a speech at an investment conference in Miami sponsored by Saudi government entities on Wednesday. The address comes as the Trump Organization seeks to expand its real estate empire in Saudi Arabia and the president aims to strengthen ties with the Middle East partner.

Mr. Trump is scheduled to speak at the FII PRIORITY Summit in Miami Beach, which is promoted as an opportunity for "thought leaders, investors, and policymakers" to come together and "unleash extraordinary value creation." The president's speech follows a day after the U.S. and Russia held talks in Riyadh on ending the war in Ukraine, and the administration is seeking Saudi Arabia's cooperation on various issues, including the war in Gaza.

Saudi Investments and Trump Ties

Saudi Crown Prince Mohammed bin Salman pledged to invest $600 billion in the U.S. over the next four years during a phone call with Mr. Trump shortly after he took office in January. The Saudi Public Investment Fund, alongside other Saudi government entities including the Saudi Ministry of Investment and Riyad Bank, is the main backer of the Miami conference.

The Saudi Public Investment Fund has also made a significant investment in Jared Kushner's private equity firm, Affinity Partners. This has raised concerns about potential conflicts of interest, especially given the crown prince's alleged involvement in the murder of Washington Post columnist Jamal Khashoggi.

LIV Golf and Controversy

The Saudi-funded LIV Golf league, which has held talks to merge with the PGA Tour, is scheduled to host a tournament at Trump National Doral in April. Mr. Trump has faced criticism for his involvement with the Saudi-backed tournament, deflecting it by casting doubt on the Saudis' role in the 9/11 attacks.

Human Rights Watch has specifically named the Saudis' involvement with LIV as a serious concern, stating that the country is attempting to "sportswash" its egregious human rights record.

Ethical and National Security Concerns

Experts have raised ethical and national security concerns regarding Mr. Trump's business dealings with Saudi Arabia. Jessica Tillipman, associate dean for government procurement law studies at George Washington University Law School, pointed out that presidents are not subject to the same restrictions as federal employees regarding financial interests in government matters.

However, Scott Amey, general counsel for the Project on Government Oversight, argued that Mr. Trump's failure to properly divest from his business holdings raises ethical and national security concerns, given the close ties between Saudi businesses and the ruling family.