Billionaires, big tech, and bold deals collide as Riyadh hosts power-packed US-Saudi business summit amid Trump’s Middle East tour
Elon Musk is back in the Saudi spotlight — this time not for a tweet, but for talks. The Tesla and SpaceX CEO is among a formidable list of American business heavyweights touching down in Riyadh today for the Saudi-US Investment Forum. The timing couldn’t be sharper. It coincides with US President Donald Trump’s Middle East visit, setting the stage for a forum brimming with deals, diplomacy, and dollars.
The event isn’t just another ribbon-cutting or cocktail circuit. This one’s got teeth. It’s part of Crown Prince Mohammed bin Salman’s long-haul plan to pivot the kingdom from an oil-reliant giant to a diversified economic powerhouse under Vision 2030. Musk’s potential re-entry into Saudi financial circles after a rocky history with its sovereign wealth fund adds an extra layer of intrigue.
A Who’s Who of Global Capital Touches Down in Riyadh
The guest list reads like a who’s who of global tech, finance, and policy powerhouses.
From Meta’s Mark Zuckerberg to BlackRock’s Larry Fink, from OpenAI’s Sam Altman to Qualcomm’s Cristiano Amon — it’s a star-studded cast. Senior US officials are also in tow: Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and presidential AI advisor David Sacks.
The forum isn’t playing it small either. It promises high-stakes conversations spanning:
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Artificial Intelligence and digital currencies
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Renewable and traditional energy deals
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Aerospace collaborations
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Arms sales and defence contracts
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Healthcare innovation and sustainability initiatives
With at least 15 Saudi ministers scheduled to participate, Saudi Arabia is making it crystal clear: they’re not just hosting, they’re steering.
Musk’s Surprise Cameo, Reignited Ties, and an Unfinished Chapter
Elon Musk showing up in Riyadh? That would’ve sounded impossible a few years ago.
The Tesla boss had a highly public spat with Saudi Arabia’s Public Investment Fund back in 2018 after claiming he had “funding secured” to take the company private — a deal the Saudis reportedly walked back from. It sparked lawsuits, scrutiny, and distance.
Fast forward to now, and his potential appearance is being interpreted as a diplomatic reset — at least on the business side.
One Saudi energy consultant, speaking off-record, called it “the most unexpected handshake of the year,” noting that Musk’s presence could signal Saudi openness to reviving stalled clean tech and AI-related discussions.
Just one sentence: But whether Musk talks deals or just optics remains to be seen.
Big Deals, Bigger Numbers: Trillion-Dollar Targets and a $100B Arms Deal
Trump isn’t known for subtlety, and this forum’s backdrop is no exception. Back in January, the President pitched Saudi Arabia on a massive $1 trillion investment into the US over four years.
It reportedly includes a colossal arms deal worth over $100 billion, still in the negotiation pipeline. Combined with AI and energy partnerships, this forum might just be the public face of those mega-deals.
Total estimates hover close to Trump’s $1 trillion ask — a number that’s bold but not entirely outlandish if multi-year commitments pan out.
The Business of Influence: Tech, Politics, and Soft Power
For Saudi Arabia, this forum is about more than investment — it’s about image.
Riyadh is pushing hard to rebrand itself as a serious player in global innovation, not just oil. Forums like this are their version of a diplomatic blitz. Bringing in giants like Musk, Zuckerberg, and Altman sends a message: “We’re open, we’re modern, and we’re loaded.”
But there’s more happening beneath the surface. By skipping Israel in this trip and focusing on Gulf states, Trump is also sending a clear — if controversial — diplomatic signal. Some analysts argue that the US-Saudi axis is being prioritized over the traditional US-Israel bond, at least in public optics.
Will the Deals Actually Deliver?
Big forums, fancy suits, handshakes — they look good. But what sticks?
A forum like this isn’t just about signing papers. It’s about setting tone, direction, and comfort level for cross-border collaboration. Still, critics argue that Saudi Arabia’s grand visions often get lost in the fog of bureaucracy and red tape.
One US executive, attending anonymously, said, “We’ve been here before. Grand ambitions, flashbulbs, but it all boils down to whether the follow-through happens.”
Meanwhile, Musk himself hasn’t confirmed any new projects — yet. But speculation is already swirling around Saudi backing for future Tesla giga-factories or satellite ventures via Starlink.
