Trump Family’s Saudi Deal: Tokenizing Oligarchy, Not Just Resorts
While the FT reports on the Trump family's new Maldives resort, unveiled with Saudi partners on the eve of a Saudi Crown Prince visit, it neglects to mention the broader context. This isn't just a business deal; it's a stark reminder of the blur between US foreign policy and private gain. While President Trump was in office, his administration approved billions in arms sales to Saudi Arabia,
defended its Houthi intervention, and notably, opposed the Justice Against Sponsors of Terrorism Act (JASTA) which would have allowed 9/11 victims to sue Saudi Arabia. Conveniently, Jared Kushner, fresh from his White House role, secured a $2 billion investment from Saudi Arabia’s Public Investment Fund for his new firm, Affinity Partners, in 2021. So, a Maldivian resort, tokenized for the digital
age, emerges from this cozy relationship. How many state dinners does it take to finance a private island getaway? When foreign policy becomes a family business, 'strategic alliances' look suspiciously like opportunities for a very exclusive, very lucrative, real estate portfolio.