Here’s Everything We Know About Trump’s Financial Ties To Saudi Arabia

Key Concepts:

• Financial ties between Donald Trump and Saudi Arabia
• Jamal Khashoggi murder
• Trump's business dealings with Saudi entities
• Jared Kushner's post-presidency ventures
• Saudi investment in Trump properties and businesses

Trump's Financial Ties to Saudi Arabia

This report details the financial connections between Donald Trump and Saudi Arabia, particularly in the years following his presidency, despite his public denial of any financial interests in 2018.

Early Business Dealings (Pre-Presidency)

• 1991: Trump faced significant casino debt, leading to the sale of his yacht, the Trump Princess, to Saudi Prince Alwaleed bin Talal bin Abdul Aziz al-Saud.
• 1995: Trump sold the Plaza Hotel to Alwaleed bin Talal and Singaporean billionaire Kwek Leng Beng for $325 million. This sale represented a loss of approximately $80 million compared to Trump's purchase price.
• 2001: Trump sold an entire floor (45th) of Trump World Tower, comprising five apartments and 10,000 square feet, to the Kingdom of Saudi Arabia for $12 million.
• 2015 Campaign: During his presidential campaign, Trump publicly stated his positive relationship with Saudi Arabia, noting their purchases of his apartments.

Business Entities and Hotel Investments

• August 2015: Shortly after launching his presidential campaign, Donald Trump established eight new business entities, including THC Jedha Hotel Manager LLC and DT Jedha Technical Services Manager LLC. The naming convention suggests potential licensing and management deals, similar to his ventures in Indonesia and Vancouver. While no official project in Jeddah was announced, the existence of these companies indicates potential business activities during his 2016 campaign.
• October 2016: The Trump International Hotel in Washington D.C. opened. By the end of March 2017, the Saudi government had spent at least $270,000 at the hotel, with $78,000 allocated to catering.

Presidential Trip and Relationship Symbolism

• May 20, 2017: Trump's first presidential trip abroad was to Saudi Arabia, a departure from traditional destinations. He tweeted his positive sentiment about being in Riyadh.
• May 21, 2017: A widely circulated photo showed Trump, King Salman bin Abdul Aziz al-Saud, and other leaders touching a glowing orb, a moment that became symbolic of the relationship.

Post-Presidency Financial Engagements

• 2021: Following his term as president, first son-in-law Jared Kushner launched a private equity firm named Affinity Partners.
• By 2024: Kushner's firm secured $2 billion in capital commitments from the Saudi government's Public Investment Fund (PIF). This commitment, valid through August 2026, includes a 1.25% management fee, projecting at least $125 million in fees for Kushner's firm over five years. This investment is estimated to have increased Kushner's personal net worth to over $1 billion.

Financial Figures and Impact

• Post-Presidency Deals: Since the end of Trump's first term, he and his family have reportedly entered into at least nine deals with Saudi investors. These deals have channeled millions into Trump's golf properties, tens of millions into his licensing businesses, and billions into private equity funds.
• 2024 Earnings: In 2024 alone, Trump and his extended family are estimated to have collected $50 million from deals connected to Saudi Arabia.

Context of Crown Prince Mohammed bin Salman's Visit

The report links these financial ties to the expected warm welcome for Crown Prince Mohammed bin Salman at the White House, despite U.S. intelligence believing he approved the plan to capture or kill journalist Jamal Khashoggi. The article suggests that these financial interests may influence the diplomatic approach, with discussions expected to cover military equipment, oil supplies, peace negotiations, and financial matters.

Attribution:

• Information is based on Forbes' calculations and analysis of real estate records.
• A letter from Ron Wyden, former Chairman of the Senate Committee on Finance, is cited regarding Kushner's capital commitments.
• The report references Dan Alexander's piece on Forbes.com for full coverage and timeline.

Conclusion:

The report highlights a complex and evolving financial relationship between Donald Trump and Saudi Arabia, extending from early business transactions to significant post-presidency investments. These financial ties, amounting to tens of millions of dollars for the Trump family, are presented as a significant factor in the context of diplomatic engagements, particularly concerning Crown Prince Mohammed bin Salman.