Crown Prince of Saudi Arabia, Mohammed bin Salman, announced plans to invest $600 billion in the United States over the next four years, a move underscoring the kingdom’s ambitions to expand its economic footprint globally. The announcement was made during a phone call with President Donald Trump, marking the first conversation between the two leaders since Trump’s inauguration earlier this week.
The state-run Saudi Press Agency reported the crown prince’s commitment to increasing trade and investment with the U.S., although specific sectors for the proposed funds were not detailed. The announcement highlights Saudi Arabia’s ongoing efforts to diversify its economy beyond oil and strengthen its ties with the U.S.
Saudi Arabia’s large stakes in American businesses
In recent years, the U.S. has significantly reduced its reliance on Saudi oil, a relationship that defined their alliance for decades. At the same time, Saudi sovereign wealth funds have taken large stakes in American businesses and shown increasing interest in other sectors, including sports and entertainment. Despite this shift, Saudi Arabia remains heavily reliant on U.S.-manufactured weapons and defense systems, a likely focus of the new investment.
BREAKING: After President Trump said he would only visit Saudi Arabia if they started buying more American products, the Saudi Crown Prince just called and said they want to invest $600 BILLION in the United States
THE ART OF THE DEAL. pic.twitter.com/dYokGLOKfo
— George (@BehizyTweets) January 22, 2025
The White House confirmed the call Thursday, January 23, saying Trump and the crown prince discussed stabilizing the Middle East, enhancing regional security, and combating terrorism. They “discussed efforts to bring stability to the Middle East, bolster regional security and combat terrorism,” the statement added, without offering further details.
Trump breaking the tradition of his first visit as president
This announcement comes as Trump hinted at making Saudi Arabia his first foreign visit of the new term, just as he did in 2017 when he visited the oil-rich Gulf nation, breaking the longstanding tradition of U.S. presidents making their first trip to the United Kingdom.
The American President defended the choice during a recent Oval Office interview. “I did it with Saudi Arabia last time because they agreed to buy $450 billion worth of our product. I said I’ll do it but you have to buy American product, and they agreed to do that,” Trump said.
Trump did not elaborate on the specifics of the previous deals. However, in 2018, he famously showcased a poster during a White House meeting with the crown prince, highlighting $12.5 billion in finalized sales of U.S. military weapons to Saudi Arabia. “That’s peanuts for you,” Trump quipped, drawing a smile from the crown prince.
The crown prince also spoke with Secretary of State Marco Rubio on Thursday, signaling a broader effort to strengthen ties with the new administration. As Saudi Arabia seeks to position itself as a global economic power, its close partnership with the United States remains a critical component of its strategy.
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