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During President Trump's visit to Saudi Arabia, Elon Musk joined a group of top executives for discussions on investments and trade. Musk, who has a complex relationship with the Saudi Public Investment Fund, attended a lunch with Trump and Crown Prince Mohammed bin Salman, aiming to attract Saudi investments while navigating tariff concerns affecting his businesses. He also participated in the Saudi-US investment forum, marking a significant moment for Tesla's recent entry into the kingdom.
President Trump hosted a luncheon in Riyadh with Silicon Valley leaders, including Sam Altman and Elon Musk, to encourage Saudi investment in U.S. companies and discuss tariffs. The event highlighted the U.S.-Saudi relationship and the kingdom's shift towards an innovation-based economy. Notable attendees included CEOs from NVIDIA, Palantir, and Citigroup, among others.
During his first international trip of his second administration, President Trump secured a $600 billion investment commitment from Saudi Arabia, meeting with Crown Prince Mohammed bin Salman and business leaders, including Elon Musk, who showcased Tesla robots. The discussions also included a potential purchase of Lockheed F-35 jets, reinforcing the economic and defense ties between the U.S. and Saudi Arabia. Trump emphasized the strong relationship he has developed with the Crown Prince, recalling his previous visit in 2017.
President Donald Trump is in Saudi Arabia for his first international trip of his second term, accompanied by business leaders including Elon Musk. The visit aims to strengthen ties with wealthy Middle Eastern nations, with Trump seeking $1 trillion in investments and considering renaming the Persian Gulf to the Arabian Gulf. Notable attendees include key administration officials and tech leaders, highlighting the trip's political and business significance.
Elon Musk, Sam Altman, and Larry Fink joined Donald Trump at the Saudi royal court as he began a significant foreign visit to the Persian Gulf, aiming for business deals with Saudi Arabia, the UAE, and Qatar. The trip includes discussions on a potential civil nuclear program and expanded defense cooperation, with Saudi Arabia pledging $600 billion in U.S. investments. Trump will also participate in the U.S.-Saudi Investment Forum, highlighting the longstanding partnership between the two nations.
Riyadh is set to host an exclusive US-Saudi Investment Forum on May 13, coinciding with President Trump's visit. High-profile attendees, including Elon Musk and Sam Altman, will engage in discussions aimed at fostering economic partnerships and exploring new investment opportunities, with agreements expected to exceed $600 billion across sectors like AI and healthcare. Saudi Investment Minister Khalid Al-Falih emphasized the unmatched innovation and capital markets of the US, highlighting the significance of this collaboration.
Millennials, shaped by the 2008 financial crisis, are advising Gen Z on financial survival amid recession fears linked to Trump's tariff policies. TikTok videos share tips like job flexibility and spending cuts, as economic anxiety rises, particularly among entry-level workers facing job insecurity. BlackRock's CEO highlights the growing financial divide between generations, with younger adults feeling the burden of economic challenges.
Fidelity has joined the ranks of BlackRock and UBS in the burgeoning market of tokenised Treasuries, which has surged to nearly $11 billion in value. The financial giant plans to launch an Ethereum-based money market fund, OnChain, primarily investing in US government bonds and cash, while maintaining traditional ownership records alongside blockchain transactions.
Morgan Stanley's Mike Wilson highlights a shift in Wall Street's perception of President Trump's attitude towards the stock market, noting that analysts are concerned he no longer prioritizes it. This change comes amid a market correction and declining GDP expectations, with Wilson attributing the downturn to earnings revisions and other growth-negative factors, rather than tariffs alone.Despite the bearish sentiment, some investors see the market dip as a buying opportunity, with figures like BlackRock's Larry Fink advocating for purchasing lower-priced shares. Wilson himself acknowledges potential advantages for U.S. stocks as the dollar weakens, which could benefit larger cap names ahead of second-quarter earnings.
Elon Musk's xAI is partnering with Microsoft and others on a $30 billion data center project, solidifying its position in the competitive AI landscape. Despite challenges in producing accurate chatbot responses, xAI aims to leverage its integration with X to differentiate its Grok chatbot. The venture raises questions about energy sourcing and job impacts, as Musk's ties to the Trump administration bolster funding opportunities amidst a rapidly evolving AI infrastructure race.
Larry Fink
People
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