U.S. President Donald Trump headlined a Saudi-backed investment summit in Miami on Feb. 19, delivering a campaign-style speech focused on his “America First” agenda and urging investors to put their money in the United States.
During his speech, Trump took a moment to defend his comments about Ukrainian President Volodymyr Zelenskyy while also thanking the Saudis for hosting the peace talks this week aimed at ending the war in Ukraine. He then launched a fresh attack on Zelenskyy, accusing him of recently backing out of a rare earths deal with the United States.
Trump addressed the three-day FII (Future Investment Initiative) PRIORITY Miami 2025 summit, hosted by Saudi Arabia’s Public Investment Fund (PIF). Global financiers and tech executives have been gathering at the summit since Feb. 19.
During his speech, the U.S. president praised his first four weeks in office and told investors, “The golden age of America has officially begun.”
“We’ve accomplished more in four weeks than most administrations accomplish in four years.”
Trump was not addressing his usual crowd, but rather a diverse international audience. Before beginning his speech, Trump stood onstage as “God Bless the U.S.A.” played. He then spoke for more than an hour before wrapping up with “Y.M.C.A.,” the song he had frequently used to close his campaign rallies.
During his remarks, the room was so packed that there was barely space for people to walk.
Among attendees were billionaire Elon Musk, U.S. special envoy to the Middle East Steve Witkoff, and Trump’s son-in-law Jared Kushner.
TikTok CEO Shou Zi Chew was also listed among the featured speakers at the summit.
Trump ran through a lengthy list of achievements—from attracting investments to securing the border and planning new tariffs on other countries—during his first 30 days in office.
He said he would announce tariffs on cars, semiconductors, chips, pharmaceuticals, lumber, and other products “over the next month or sooner.”
“It’s going to have a big impact on America,” Trump told investors.
He also praised Musk’s role in finding government waste and fraud, calling him “a very serious person” with a “high IQ.”
“He’s got his faults also, I will tell you that, but not too many of them,” Trump said, making the crowd laugh.
‘We Can Make a Deal With Russia’
During his speech, Trump spoke about this week’s peace talks in Saudi Arabia aimed at ending the Russia–Ukraine war, saying they were going well before criticizing Zelenskyy.“The only thing he was really good at was playing Joe Biden like a fiddle,” Trump said of the Ukrainian president.
Trump said the United States spent far more than Europe in supporting Ukraine, yet received nothing in return.
“We had a deal based on rare earth and things, but they broke that deal,” Trump told the crowd. “They broke it two days ago.”
Trump thanked Saudi Crown Prince Mohammed bin Salman for hosting the “historic talks” on Feb. 18 in Riyadh, Saudi Arabia, where his top officials, including U.S. Secretary of State Marco Rubio, met with Russian diplomats. Ukrainian representatives were not invited to the meeting.
Trump continued his criticism of Zelenskyy during a gaggle with reporters on Air Force One as he headed back to Washington. He said Ukraine had “more or less” agreed to a deal on rare earths and that U.S. Secretary of the Treasury Scott Bessent had visited Ukraine but “was treated rather rudely,” as Zelenskyy declined to meet with him.
“He went there to get a document signed and ... he came back empty,” Trump said. “We can make a deal with Russia to stop the killing.”
During the investment summit, Trump expressed hope that his greatest legacy would be as a “peacemaker and a unifier” in both Ukraine and the Gaza Strip.
Saudi Arabia holds a key role for Trump as he strengthens ties with the kingdom, seeking its support for his plan for the future of the Gaza Strip and displaced Palestinians. Trump has suggested that the United States take control of the Gaza Strip, reconstruct the region, and have Palestinians relocate to Jordan and Egypt. Saudi Arabia has dismissed the proposal, while Egypt has stated that it will present a counterproposal.
Ahead of the investment summit in Miami, human rights groups criticized Saudi Arabia for using the PIF as a tool of soft power and foreign influence in the United States.
In 2023 and 2024, the U.S. Senate launched an investigation to examine Saudi influence through investments made by the PIF.
Merger talks between PIF-backed LIV Golf and the PGA Tour have been ongoing since the announcement of a framework agreement in June 2023.
PGA Tour officials recently met with Trump and asked him to get involved in talks with PIF to finalize the merger deal.
Trump did not address the merger discussion during his speech at the investment summit.
