Trump Family Has Major Saudi Arabia Business Ties As Nuclear Deal Draws Scrutiny
President Donald Trump is widely expected to announce an agreement allowing Saudi Arabia to enrich nuclear fuel, multiple outlets reported—a deal that includes concessions critics say would make it easier for the kingdom to develop nuclear weapons and one that comes as Trump and his family have strengthened their business ties to Saudi Arabia during his second term.
Trump’s relationship with the Saudis dates back to the 1980s, and he and his family have increased their business in the kingdom since the end of his first term, including entering into at least nine deals with Saudi investors since, worth an estimated $50 million in 2024 alone, Forbes reported previously.
In one of the Trumps’ most recent deals with Saudi Arabia, the Trump Organization announced in November it would partner with Saudi-based developer Dar Al Arkan to license the Trump name to a hotel in the Maldives—one of several licensing deals with Dar Al Arkan, including Trump Tower Jeddah and Trump Plaza Jeddah, announced in July 2024 and September 2025, respectively, and two luxury residential communities in Riyadh, announced in December 2024.
Trump’s first known deal with the Saudis was in 1987, when he purchased a $29 million yacht commissioned by arms dealer Adnan Khashoggi, cousin of slain Saudi journalist Jamal Khashoggi, and in the 1990s, he sold both the yacht and a portion of New York City’s Plaza Hotel to Saudi Prince Alwaleed bin Talal bin Abdulaziz al Saud.
Trump—who took his first international trip as president to Saudi Arabia in 2017—last met with Saudi Crown Prince Mohammed bin Salman at the White House in November, less than a day after the Maldives deal was announced, insisting to reporters his family has “done very little” business with Saudi Arabia.
Trump has also repeatedly defended Mohammed bin Salman over the murder of Saudi journalist and dissident Jamal Khashoggi, insisting to reporters at the November meeting the crown prince “knew nothing about it” and describing Khashoggi as “extremely controversial,” despite a Biden-era U.S. intelligence report finding Mohammed bin Salman approved his assassination, an allegation he has denied.
During the first Trump administration, billionaire real estate investor Thomas Barrack Jr. suggested to the White House that American companies, including his, could help Saudi Arabia build nuclear power plants, which, he said, would help ease tensions over Trump’s controversial travel restrictions on Saudi Arabia and other predominantly Muslim countries, according to a report by Democrats on the House Oversight Committee.
Trump transferred his interests in his family businesses to a trust controlled by his sons when he took office a second time, to avoid an appearance of a conflict. Critics point out Trump has maintained a financial interest in many of his assets, rather than selling them.
“Congress should approve only if the deal has the same gold-standard safeguards as our deal with the UAE,” Rep. Brad Sherman, D-Calif., posted on X. “A president waging war to prevent nuclear proliferation in the Middle East should not facilitate proliferation just because U.S. companies stand to make a profit.” Sherman was referring to the non-proliferation agreement with the United Arab Emirates that requires more aggressive nuclear inspections. Sherman noted during a congressional hearing later Wednesday that he introduced the “No Nuclear Weapons for Saudi Arabia Act” with then-Sen. Marco Rubio, R-Fla., in 2018, “which mandated that any agreement with Saudi Arabia would have to have the affirmative approval of Congress. And I miss Sen. Rubio,” Sherman said. “This Sec. Rubio takes a completely different approach.” Rubio refused to answer questions from reporters about the agreement on Wednesday, deferring to the White House.
Trump is expected to sign the agreement with Saudi Arabia this week and submit it to Congress for review. Under the Atomic Energy Act, Congress can issue a resolution of disapproval within 90 days, but it would require a veto-proof majority, meaning the agreement is unlikely to fail.
The agreement would allow Saudi Arabia to enrich its own fuel for nuclear reactors, which critics fear could facilitate Saudi development of a nuclear weapon. Saudi Arabia would be required to use U.S. companies to supply the reactors, and the U.S. companies would set up safeguards to limit Saudi control over the program and prevent it from using it to develop a nuclear weapon. Referred to as a nuclear “non-proliferation” agreement, the U.S. has 26 similar agreements with 51 governments and the International Atomic Energy Agency, according to The New York Times. The deal reportedly included multiple favorable terms for Saudi Arabia, including limiting international nuclear inspections and potentially allowing the Saudis to enrich uranium or reprocess plutonium, he Times reported. The deal has been in the works for years under previous administrations. Former President Joe Biden required it be contingent on Saudi Arabia recognizing Israel, but Trump abandoned the provision.