Trump's UFC appearance sparks speculation on Saudi ties
Donald Trump attended the UFC 309 mixed martial arts event at Madison Square Garden in New York. The President-elect of the United States was in the company of several notable figures; however, Yasir Al-Rumayyan particularly attracted the attention of analysts.
The victor in the race to the White House, Donald Trump, attended the UFC mixed martial arts gala on Saturday evening. With such an illustrious group accompanying the President-elect, it was no surprise that commentators considered what was happening in the audience as significant as the events in the octagonal cage.
Sitting alongside the future President were individuals who will assume roles in the new administration, including Elon Musk, owner of platform X. Donald Trump announced the creation of a "Department of Government Efficiency" (DOGE) led by Elon Musk (founder of SpaceX and Tesla) and businessman Vivek Ramaswamy, a former competitor in the Republican primaries. His campaign supporter, UFC Chief Dan White, welcomed the President to the venue.
Also seated near Trump was Robert F. Kennedy Jr., who had been nominated for Secretary of the Department of Health and Human Services. The Speaker of the House of Representatives, Mike Johnson, was in the audience, and prominent personalities like singer Kid Rock were also present.
Saudi acquaintance
Nonetheless, a man seated to the right of the US President captured special attention from commentators. This was Yasir Al-Rumayyan, a trusted associate of the Saudi royal family.
He leads the renowned Saudi Public Investment Fund, and under his leadership, the oil giant Saudi Aramco became the world’s most valuable company.
Within the PIF, Al-Rumayyan manages assets valued at 360 billion US dollars. As noted by the American magazine "Forbes", it is the third-largest sovereign wealth fund in the Arab world, and its influence is prominently noticed in the international investment landscape.
Al-Rumayyan holds numerous positions within the Saudi governance structure. He is a member of the Council for Economic and Development Affairs, 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 is also on the boards of Saudi Arabia’s most significant projects. He serves as a board member for the NEOM Company (a futuristic city featuring a floating industrial complex, a global trade centre, and tourist resorts powered entirely by renewable energy) and the Red Sea Development Company. The latter was founded by Saudi Crown Prince Mohammed bin Salman and invested in a megapolis encompassing 92 islands. Both large-scale projects are components of Saudi Arabia's Vision 2030 initiative.
Trump closer to the Saudis?
The informal meeting between Trump and Al-Rumayyan at the UFC event led to speculation regarding a potential rapprochement between Saudi Arabia and the new US administration.
It is worth recalling that, in recent years, relations between Riyadh and Washington have cooled significantly. The close ties of the Wahhabi kingdom's crown prince, Mohammed bin Salman, with Vladimir Putin resulted in establishing the so-called oil pact to regulate the oil market. This move undermined the effectiveness of Western sanctions against Russia.
The shift towards Moscow was particularly painful, given Riyadh's previous status as a close ally of Washington.
Moscow and Riyadh found common ground due to the US's expanding presence in the energy market, especially concerning shale gas and oil production. It's crucial to remember that this alignment of oil interests led to the expansion of the oil cartel and the formation of OPEC+ in 2016.
