Trump was spotted sitting with the head of Saudi Arabia’s Public Investment Fund at a UFC fight
The ‘Barron’s Roundtable’ panel dissects market performance, the impact from the President-elect’s tax plan and the impact on stocks of Robert F. Kennedy Jr.’s nomination.
President-elect Trump returned to Madison Square Garden for the UFC fight Saturday night in a big way, with Elon Musk, Kid Rock, RFK Jr., Tulsi Gabbard, Speaker of the House Mike Johnson and the president of the fight organization, Dana White, in attendance. , while he was also seen sitting next to the Saudi Arabian superstar.
In a video circulating at the event, Trump was seen talking to the head of the Saudi Arabia Public Investment Fund (PIF), Yasir Al-Rumayyan, while Musk and others were talking while watching the battles.
Trump’s transition team did not respond to Fox News Digital’s inquiry about the matter.
PIF is Saudi Arabia’s sovereign wealth fund, controlled by Crown Prince Mohammed bin Salman and chaired by Al-Rumayyan. According to Reuters, the PIF is estimated to have assets of approximately $925 billion in July.
ELON MUSK SAYS HIS ROLE IN TRUMP’S LABOR DEPARTMENT ‘WILL BE TRANSFORMATION’
President-elect Trump is seen speaking with the governor of the Public Investment Fund of Saudi Arabia, Yasir Al-Rumayyan, at the UFC fight at Madison Square Garden in New York City on November 16, 2024. (Fox News / Fox News)
Along with his involvement in PIF, Al-Rumayyan is the chairman of Saudi Aramco, the state-owned oil company, and the country’s largest mining company, Maaden. He is also the chairman of the English Premier’s Newcastle United Football Club.
Last year, the PGA, DP World Tour and PIF, which supports LIV Golf, announced an agreement to “unify the game of golf, globally.” The announcement came nearly 15 months after LIV Golf launched its first series, and nearly a year after its first tournament.
TRUMP TEAM REPORTEDLY WANTS TO KILL BIDEN’S $7,500 EV TAX CREDIT
Honorable Yasir O. Al-Rumayyan looks on during the UFC 309 event at Madison Square Garden on November 16, 2024 in New York City. (Chris Unger/Zuffa LLC/Getty Images)
The agreement also stated that the dispute between the PGA Tour, the European Tour and LIV Golf would end.
The PIF, which has been criticized for human rights, will have exclusive investment rights in the joint golf company, something the three groups say includes “the right of first refusal on any money that may be invested in the new business, including the PGA TOUR, LIV Golf and the DP World Tour.” The new group will receive money from the Saudi sovereign wealth fund.
PGA TOUR AND LIV GOLF COMBINATION: PLAYERS, PLAYERS, MONEY
President-elect Donald Trump, singer Kid Rock, Vivek Ramaswamy and Yasir O. Al-Rumayyan pose after UFC Heavyweight champion Jon Jones’ TKO victory over rival Stipe Miocic UFC 309 heavyweight at Madison Square Garden in N. (KENA BETANCUR/AFP via Getty Images/Getty Images)
Oversight of the “commercial, entrepreneurial and investment activities” of the new golf company will fall to a board of directors whose full slide will be revealed “in the near future,” the three organizations said. The release indicated that the majority of its members will be selected by the PGA Tour, which will also receive significant voting interest.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
In the new venture, PGA Tour Commissioner Jay Monahan will serve as CEO while Al-Rumayyan takes over as chairman. The two will also sit on the board’s executive committee.
Aislin Murphy of Fox News Digital contributed to this report.
Source link
