President Donald Trump is flying to Saudi Arabia next week with a powerful American financial and tech leader, where they will push new oil and gas deals as part of a broader effort to get the gulf to spend more money in the United States.
The journey, which includes stops in Qatar and the United Arab Emirates, will be his first international visit since returning to the White House.
According to Bloomberg, Larry Fink, Blackrock CEO.
The other executives who joined were with Steve Schwarzman from Blackstone, Jenny Johnson of Franklin Templeton, and Ruth Porat, the chief leader of the alphabet.
The forum will take place in the Saudi capital and will also include Crown Prince Mohammed bin Salman, which is set to meet Trump directly.
Arvind Krishna, CEO of IBM, and Cristiano Amon, CEO of Qualcomm, is also expected to attend the event. The gathering will focus on four main areas: energy, artificial intelligence, advanced manufacturing, and finance.
Representing the White House in Crypto and Ai Matters is David Sacks, who will speak alongside Saudi numbers such as Amin Nasser, CEO of Saudi Aramco, and the leading kingdom ministers who hold energy, investment, and finances.
Trump demands at least $ 1 trillion in investment and trade from both Saudi Arabia and the UAE, pushing to strengthen economic relations and bring more foreign capital to the US. But the timing is rough.
Saudi Arabia's finances are under fatigue, with oil prices and budget pressure rises. The recent -only collapse in Brent Crude – from $ 75 to $ 60 a barrel – has a state's hammered income. Prices have dropped by about 20% this year.
Oil crash deepens Saudi deficiency as Trump demands cash
In the first three months of 2025, Saudi Arabia posted a deficiency of 58.7 billion Riyal (about $ 15.7 billion), the worst quarterly figure since the end of 2021.
That is more than half of the total 101 billion riyals the government expects to run as a shortage for the year. Instead of using foreign reserves of the country, Saudi officials chose to borrow more money to cover the hole.
Goldman Sachs economists said budget deficiency could have reached $ 67 billion by the end of 2025, more than double the original Kingdom forecast.
Meanwhile, Saudi authorities still spend home as part of Vision 2030, a massive economic change project named by Mohammed Bin Salman. Saudis needs oil at $ 93 a barrel to break even last year.
If spending from the highest Kingdom wealth funds included – especially in massive infrastructure projects – the Breakeven price jumped for $ 108, according to Ziad Daud, the head of emerging economist markets in Bloomberg Economics.
Among these numbers, Trump's journey aims to obtain the rich states of the Gulf to strengthen their purchases of American products and pour billions -billions of US companies and infrastructure. At the same time, Saudi Arabia wants military cooperation lighter and US defense and long-term security guarantees.
Officials in Riyadh are positioning the kingdom to be the dominant business and trade hub in the region, and the direct investment is a major part of that plan.
Trump's visit is expected to boost those conversations. Saudi officials want to pull over $ 100 billion in foreign direct investment each year by 2030, almost five times the total they received last year.
Many of the American companies go to Riyadh Forum There is already a profound connection to Saudi money, along with their leaders attending the future investment initiative, the high -profile annual financial Kingdom.
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