Following the end of Trump’s first term, the president’s family has secured at least nine deals with Saudi investors, according to a Forbes report, engaging in multimillion-dollar ventures involving Trump’s golf properties and licensing business. Last year, the president and his extended family generated an estimated $50 million from deals linked to Saudi Arabia. Jeddah, a coastal city in Saudi Arabia, will be home to Trump Tower Jeddah and Trump Plaza Jeddah, the latter of which includes offices, apartments and a green space. Trump’s son-in-law, Jared Kushner, secured capital commitments of $2 billion from the Saudi Arabian Public Investment Fund from 2021 to 2024, according to the Forbes report, which noted a 1.25% management fee is attached to the funds, “suggesting the Saudis will pay Kushner’s firm at least $125 million over five years.”

Crucial Quote

“Who would have thought 20 years ago that anyone with a few brain cells would be investing in the Middle East versus anywhere in Europe?” Donald Trump Jr. said at an investment summit in Saudi Arabia last month. “I think the opportunity over here in the region is spectacular.”

Tangent

Trump also came to the defense of Mohammed bin Salman when the ABC News reporter brought up the murder of Saudi journalist and dissident Jamal Khashoggi, whose death the U.S. intelligence community has directly connected to the crown prince. Trump said of Khashoggi, “a lot of people didn't like that gentleman” and claimed Mohammed bin Salman knew nothing about his murder, which was carried out by Saudi agents, according to intelligence officials. The Saudi government has denied involvement in Khashoggi’s death.

Key Background

Trump’s business ties with Saudi Arabia date back decades, according to Forbes. In 1987, Trump spent $29 million on a large yacht originally commissioned by Adnan Khashoggi, an arms dealer and cousin to Jamal Khashoggi. Trump also purchased the Plaza Hotel in New York in the 1980s, later selling it at a loss of about $80 million to a joint venture between Saudi Prince Alwaleed bin Talal bin Abdulaziz al Saud and Singaporean billionaire Kwek Leng Beng. The 45th floor of Trump World Tower was sold to Saudi Arabia in 2001 for $12 million. In 2022, Trump netted about $6 million from an overseas licensing deal in which the Trump Organization agreed to brand a development from Dar Al Arkan in Oman, one of Saudi Arabia’s neighboring countries.