Trump's UFC appearance sparks Saudi speculation
Donald Trump attended the UFC 309 mixed martial arts gala at Madison Square Garden in New York City. The United States President-elect was accompanied by a host of well-known personalities, but the presence of Yasir Al-Rumayyan particularly captured the attention of experts.
2:19 PM EST, November 18, 2024
The winner of the race to the White House, Donald Trump, attended the UFC federation's mixed martial arts gala on Saturday evening. The spectacle, along with the President-elect, included a team of famous figures, so it's no surprise commentators were as interested in the audience as in the fenced octagon.
Sitting alongside the future president were people who will play roles in the new administration, including the owner of the X platform, Elon Musk. Donald Trump announced that he would establish a “Department of Government Efficiency (DOGE)” headed by Elon Musk (the creator of SpaceX and Tesla) and businessman Vivek Ramaswamy, a former rival in the Republican primaries. The president was welcomed in the arena by Dan White, who supported him during the campaign.
Near Trump, a seat was also reserved for Robert F. Kennedy Jr., who was nominated for Secretary of the Department of Health and Human Services. Also present in the audience were House Speaker Mike Johnson and stars such as singer Kid Rock.
Saudi acquaintance
Particular attention was drawn to the person sitting to the right of the U.S. president: Yasir Al-Rumayyan, a trusted figure within the Saudi royal family.
He leads the well-known Saudi Public Investment Fund (PIF), and under his leadership, the Saudi Aramco oil company became the world's most valuable firm.
Within the PIF, Al-Rumayyan manages assets worth $360 billion. As noted by the American magazine "Forbes," it is the third-largest sovereign fund in the Arab world, and its activity is highly noticeable in the international investment sphere.
Al-Rumayyan holds many roles within the House of Saud. He is a member of the Economic and Development Affairs Council, an advisor to the General Secretariat of the Council of Ministers, chairman of the Decision Support Center, and a board member of the Saudi Industrial Development Fund.
He sits on the boards of the most important Saudi projects. He is a board member of NEOM Company, a city of the future with a floating industrial complex, a global trade center, and tourist centers—all fully powered by renewable energy sources. The Red Sea Development Company, founded by Saudi Crown Prince Mohammed bin Salman, invests in a megapolis covering a total of 92 different islands. Both powerful projects are part of Saudi Arabia's Vision 2030 plan.
Trump closer to the Saudis?
The unofficial meeting between Trump and Al-Rumayyan during the UFC gala has led to a wave of speculation about a closer alignment between Saudi Arabia and the new U.S. administration.
In recent years, Riyadh's relations with Washington have significantly cooled. The close ties between the crown prince of the Wahhabi kingdom, Prince Mohammed bin Salman, and Vladimir Putin led to the establishment of the so-called oil pact to regulate the oil market. This undermined the effectiveness of Western sanctions imposed on Russia.
Turning towards Moscow was especially painful because Riyadh had collaborated closely with Washington.
Moscow and Riyadh were brought closer by the U.S. expansion in the energy market, particularly in the production of shale gas and oil. This convergence of oil interests resulted in the expansion of the oil cartel and the creation of OPEC+ in 2016.
