Trump and Al‑Rumayyan’s UFC meeting fuels Saudi-US speculations
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 several well-known personalities, but the presence of Yasir Al-Rumayyan particularly caught the attention of experts.
Donald Trump, the winner of the race to the White House, attended the UFC federation's mixed martial arts gala on Saturday evening. The spectacle and the President-elect featured a team of famous figures, so it's not surprising that commentators were as interested in what was happening in the audience as in the fenced octagon.
Sitting alongside the future president were individuals who will play roles in the new administration, including Elon Musk, the owner of the X platform. 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. Dana White welcomed The president in the arena, who supported him during the campaign.
Near Trump, a seat was also given to Robert F. Kennedy Jr., nominated for Secretary of the Department of Health and Human Services. House Speaker Mike Johnson and stars such as Kid Rock were also in the audience.
Saudi acquaintance
The person sitting to the right of the U.S. president drew particular attention. This was Yasir Al-Rumayyan, a trusted member of the Saudi royal family.
He leads the 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 about 485 billion Canadian dollars. 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 more roles in the House of Saud. He is also 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, global trade centre, and tourist centres all fully powered by renewable energy sources) and the Red Sea Development Company, founded by Saudi Crown Prince Mohammed bin Salman. The latter invests in a megacity covering 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 series of speculations about a closer alignment between Saudi Arabia and the new U.S. administration.
Let's recall that 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 and undermined the effectiveness of Western sanctions imposed on Russia.
Turning towards Moscow was all the more painful because Riyadh had been a close collaborator with Washington.
Moscow and Riyadh were brought closer by the U.S. expansion in the energy market, particularly in shale gas and oil production. Let's recall that this convergence of oil interests resulted in the expansion of the oil cartel and the creation of OPEC+ in 2016.
