At the Faena Hotel in Miami Beach, a notable Saudi-run investment forum is currently underway, drawing attention from global leaders in finance, technology, and politics. The Future Investment Initiative (FII), often referred to as "Davos in the desert," is hosting discussions that reflect the pressing issues of our time, including economic resilience and international cooperation.
During breakfast at the hotel, a lively debate erupted between two attendees regarding the impact of former President Donald Trump on global stability. One participant voiced concerns that Trump is fostering instability, while the other offered a contrasting perspective, underscoring the divisive nature of Trump’s influence in international affairs.
The FII event, which spans three days, serves as an offshoot of the main conference held annually in Saudi Arabia. It is organized by the Saudi Sovereign Wealth Fund, aiming to connect influential figures to explore promising investment opportunities. The Miami gathering has attracted some of the wealthiest individuals from various sectors, including finance, technology, and philanthropy.
Among the topics being discussed are critical questions such as the ownership of oceans by states, the decline of multilateralism, and the potential for a new era of economic collaboration between the U.S. and the Middle East. Notably, one session will feature Steve Witkoff, a prominent figure in Trump’s Middle East dealings, with Jared Kushner, Trump’s son-in-law, moderating the discussion.
The event’s significance is amplified by Trump’s ambition to secure substantial Saudi investments in the United States, estimated at $1 trillion. In return, he is committed to fostering investment in Riyadh, highlighting the transactional nature of the relationship between the U.S. and Saudi Arabia.
Saudi Arabia is positioning itself as a pivotal global power broker, leveraging Trump’s influence to further its own geopolitical interests. The kingdom’s recent diplomatic maneuvers include mediating between Russia and the U.S., as well as engaging with Iran over nuclear negotiations. This shift underscores a broader trend where traditional diplomatic centers like Washington, London, and Brussels are increasingly sidelined in favor of emerging power dynamics centered in Saudi Arabia and Florida.
As the conference progresses, discussions are expected to address the complexities of Middle Eastern diplomacy, particularly concerning the ongoing situation in Gaza and the prospects for normalization between Arab states and Israel. With the eyes of the world on Miami, the outcomes of this forum could have lasting implications for international relations and investment strategies moving forward.