Trump and Saudi Crown Prince bask in friendship

The plenary room of the Ritz Carlton Riyadh was packed to the brim on Tuesday as guests awaited the arrival of U.S. President Donald Trump and Saudi Crown Prince Mohammed bin Salman.

Attendees of the U.S.-Saudi Investment Forum included scores of the world’s most powerful CEOs, among them Elon Musk, Nvidia’s Jensen Huang and BlackRock‘s Larry Fink, to name a few.

The event’s security corralled guests — billionaires and junior consultants alike — into the plenary to wait in suspense while the Saudi and American leaders held their meetings.

“We were locked in the plenary for three hours before they showed up,” Tarik Solomon, head of the American-Saudi business chamber in Riyadh, told CNBC. “Nothing says diplomacy like strategic patience.”

Guests described amusing scenes as Fortune 500 executives sat cross-legged on the floor because of a shortage of seats.

“They put the CEOs on the stage as well for the whole three hours, and they didn’t have anywhere to sit. So they’re like, sitting on the ground, literally, with their legs crossed, talking to each other, which was a funny scene,” one attendee, who asked to remain anonymous due to professional restrictions on speaking to the press, told CNBC.

“The event was really unorganized,” the guest said, but attested to the energy in the room as the president took the stage.

“It was amazing being in that room. No matter what you say about Trump, he is a star. He knows how to work a room.”

Trump stood alone onstage while Lee Greenwood’s patriotic ballad “Proud to be an American” played on the surround-sound speakers before launching into a roughly 50-minute long speech that covered U.S. relations with the region, but focused heavily on his domestic agenda and legacy.

“I feel like I just attended my first Trump rally,” another attendee said, also speaking anonymously due to professional restrictions.

The American leader dedicated much of his speech to praising the Saudi kingdom, with which he has enjoyed warm relations for years, and where he made his first state visit in 2017 during his initial White House term.

“Riyadh is becoming not just a seat of government but a major business, cultural and high-tech capital of the entire world,” Trump said.

“Mohammed, do you sleep at night? How do you sleep?” he said, addressing the 39-year-old crown prince, who was seated directly across from him in the audience. “Critics doubted that it was possible, what you’ve done, but over the past eight years, Saudi Arabia has proved the critics totally wrong.”

The crowd applauded as Trump said, “He’s your greatest representative, greatest representative. And if I didn’t like him, I’d get out of here so fast. You know that, don’t you? He knows me well. I do — I like him a lot. I like him too much.”

Bin Salman sat beaming at the president, often placing his hand on his heart in a gesture of appreciation.

“That’s why we give so much, you know? Too much,” Trump said, smiling. “I like you too much.”

Saudis on social media expressed pride over their de-facto leader’s relationship with the U.S. president, and regional analysts noted the stark difference between this administration’s relationship with the kingdom and that of the Biden administration, which was significantly cooler.

“Trump and MBS? It’s a bromance for the ages,” one summit attendee told CNBC, referring to the crown prince by his initials.

The event’s main news was the announcement of $600 billion in investments by Saudi Arabia into the U.S., including a record $142 billion deal to purchase American weapons.

“Overall, the mood was very optimistic,” Solomon of the American Chamber of Commerce said. “The right people were in the room, and the deals felt less performative this time. Probably because they confirmed $300B+ in real agreements, rather than stitching together flashy $1B headlines.”