Trump signs ‘strategic economic partnership’ with Saudi Arabia

Daily News Article   —   Posted on May 14, 2025

(by Caitlin McFall, Fox Business) – President Donald Trump on Tuesday signed a “strategic economic partnership” alongside Saudi Arabian Crown Prince Mohammed bin Salman.

The partnership included a series of deals on energy, defense, mining and space-based agreements that amount to $600 billion, and “could” help create up to 2 million U.S. jobs, Trump said on Tuesday.

Roughly a dozen memorandums of understanding and letters of intent were agreed to under the new partnership.

Several of the agreements tracked with previously stated ambitions by both Washington, D.C., and Riyadh, particularly when it comes to defensive deals. …

In a statement immediately following the signing ceremony in Riyadh, the White House said, “Saudi Arabia’s $600-billion commitment to invest in the United States, building economic ties that will endure for generations to come.”

The largest investments detailed in the agreement included a $20 billion investment by Saudi Arabia’s DataVolt in AI data centers and energy infrastructure in the United States, an $80 billion investment in “cutting-edge transformative technologies in both countries” by Google, DataVolt, Oracle, Salesforce, AMD and Uber, as well as a massive $142 billion defensive package.

According to the White House, “The United States and Saudi Arabia signed the largest defense sales agreement in history – nearly $142 billion, providing Saudi Arabia with state-of-the-art warfighting equipment and services from over a dozen U.S. defense firms.”

The defense sale will reportedly be completed in the fall and will include air force advancement and space capabilities, air and missile defense, maritime and coastal security, border security and land forces modernization, and information and communication systems upgrades.

Published at FoxBusiness on May 13. Reprinted here for educational purposes only. May not be reproduced on other websites without permission.



Background

Read a Fact Sheet on Saudi Arabia's $600 Billion Investment Commitment.


The following is a list of Trump administration officials and business leaders who accompanied President Trump to Saudi Arabia on May 13, 2025, for his first major international trip of his second term. The delegation was notably large, reflecting the focus on securing business deals and economic cooperation. (from grok)

Trump Administration Officials

  • U.S. Secretary of State Marco Rubio
  • U.S. Secretary of Defense Pete Hegseth
  • U.S. Treasury Secretary Scott Bessent

Business Leaders: The White House reported a significant number of U.S. business leaders attended a luncheon with Saudi officials, showcasing the trip’s emphasis on economic deals. The following individuals were explicitly mentioned as attending in sources or posts on X:

  • Elon Musk – CEO of Tesla, SpaceX, X Corp and Starlink
  • Larry Fink – CEO of BlackRock, representing major financial interests.
  • Stephen Schwarzman – CEO of Blackstone, noted for his role in investment discussions.
  • Sam Altman – CEO of OpenAI, reflecting tech sector involvement.
  • Jane Fraser – CEO of Citigroup, representing the financial sector.
  • Jensen Huang – CEO of NVIDIA. Part of the delegation, noted for tech industry representation.
  • Andy Jassy – CEO of Amazon
  • Alex Karp – CEO of Palantir. Present at the investment forum and luncheon, involved in tech and defense discussions.
  • Kelly Ortberg – CEO of Boeing, representing aerospace and defense interests.
  • Dara Khosrowshahi – CEO of Uber. Part of the delegation, noted in posts on X.
  • Tim Sweeney – CEO of Epic Games, representing the gaming industry.
  • Reid Hoffman – Co-founder of LinkedIn.
  • Ben Horowitz – Co-founder of Andreessen Horowitz.
  • Jenny Johnson – CEO of Franklin Templeton. Mentioned in posts as part of the business delegation.
  • Ruth Porat – President and Chief Investment Officer of Alphabet Inc. Included in the delegation, representing tech and investment sectors.
  • Christopher Calio – CEO of RTX, representing defense and aerospace.

Francis Suarez, mayor of Miami.