Elon Musk joined U.S. President Donald Trump in Riyadh on Tuesday, marking a significant moment in U.S.-Middle East business relations. The Tesla CEO was among a select group of top American business leaders attending a Saudi-U.S. investment forum, held on the sidelines of Trump’s Middle East visit.
The high-profile luncheon at the royal court brought together Trump, Saudi Crown Prince Mohammed bin Salman, and CEOs from major corporations including BlackRock, Citigroup, IBM, Boeing, and several U.S. airlines. The event signals deepening economic ties between Washington and Riyadh, backed by potentially massive investment deals.
Earlier this year, Trump called on Saudi Arabia to invest over $1 trillion in the U.S. economy across four years, including substantial military purchases. Reuters recently reported that the U.S. is preparing an arms package for Saudi Arabia exceeding $100 billion.
For Musk, the visit marks a turning point. His Tesla venture officially entered the Saudi market in April, ending a long-standing feud with the kingdom’s Public Investment Fund that began in 2018. His relationship with Riyadh has improved notably since Musk took on a prominent role in Trump’s election campaign and later assumed a senior position in the administration.
The Tesla founder arrived in Riyadh independently of Air Force One but was among the forum’s featured speakers. Trump personally introduced Musk to Crown Prince Mohammed bin Salman, highlighting the importance of U.S.-Saudi collaboration.
Musk’s ties to the region extend beyond Saudi Arabia. Investors from Qatar and the UAE participated in a recent $6 billion funding round for his companies. Additionally, the UAE has partnered with Musk’s brother, Kimball Musk, on a multiyear deal for drone light shows. Kimball also attended the Riyadh luncheon.
Earlier this month, Elon Musk announced plans to scale back his government duties to refocus on his business ventures. Meanwhile, in a recent interview with Al Arabiya, Trump hailed Mohammed bin Salman as “a great man with a great vision.”