Donald Trump's return to the White House has reignited attention on his close ties with Gulf monarchies. On the eve of a tour of Saudi Arabia, Qatar, and the United Arab Emirates, the US president is sending out multiple signals of rapprochement.
Trump and his entourage have built up a dense network of business and diplomatic contacts in the region in recent years. In April, Eric Trump, the president's son and head of the Trump Organization, inaugurated a new residential tower in Dubai. The same company plans to build a Trump Tower in Riyadh, following an initial project already launched in Jeddah on the Red Sea.
In Qatar, an agreement between developers Dar Global and Qatari Diar provides for the construction of a Trump International Golf Club and luxury villas near Doha. In 2022, Dar Global had already partnered with the Trump Organization to develop a $4bn project in Oman, including a golf course, hotel, and residential complex.
During the 2024 presidential campaign, Trump welcomed the Emir of Qatar and the President of the United Arab Emirates to Mar-a-Lago. Several of his former associates also have close ties to the region.
Donald Trump's associates also have interests in the Gulf
Jared Kushner, his son-in-law and former advisor, is in regular contact with Saudi Crown Prince Mohammed bin Salman. He participated in the Future Investment Initiative (FII), a major Saudi economic conference, and attended the 2022 World Cup in Qatar. His investment company, Affinity Partners, saw its assets climb to $4.8bn in 2024, fueled by capital from Qatar and Abu Dhabi, among others. The Saudi sovereign wealth fund reportedly injected $2bn into the company, according to congressional investigators.
Dina Powell McCormick, a former member of Trump's National Security Council and now an executive at BDT & MSD Partners, also participated in the FII in October 2024. She worked on Aramco's IPO in 2019 alongside Ken Moelis, Trump's former financial adviser and founder of Moelis & Company, who was also present at the FII.
Finally, Steve Mnuchin, former Treasury Secretary and former Goldman Sachs executive, has been making frequent trips to the Gulf since 2021. His Liberty Strategic Capital fund is backed by Mubadala, Abu Dhabi's sovereign wealth fund, and SoftBank's Vision Fund.
The controversy over the links between the Trump galaxy and the Gulf countries found a new illustration ahead of the tour in the B747 that Qatar offered to the US president as a temporary official aircraft.
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