A ‘Barron’s Roundtable’ panel breaks down the market’s efficiency, the affect from President-elect Trump’s tariff plan in addition to the affect on shares from Robert F. Kennedy Jr.’s nomination.
President-elect Trump returned to Madison Sq. Backyard for the UFC combat on Saturday evening in a large means, with Elon Musk, Child Rock, RFK Jr., Tulsi Gabbard, Home Speaker Mike Johnson and the preventing group’s president, Dana White, in tow, whereas additionally being noticed sitting subsequent to a significant participant from Saudi Arabia.
In video circulating from the occasion, Trump was seen conversing with the top of Saudi Arabia’s Public Funding Fund (PIF), Yasir Al-Rumayyan, as Musk and others have been speaking and watching the fights.
Trump’s transition workforce didn’t reply to Fox Information Digital’s inquiry into the matter.
The PIF is the sovereign wealth fund of Saudi Arabia, which is managed by Crown Prince Mohammed bin Salman and ruled by Al-Rumayyan. Based on Reuters, the PIF was estimated to have about $925 billion in property in July.
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President-elect Trump was noticed talking with the governor of Saudi Arabia’s Public Funding Fund, Yasir Al-Rumayyan, at a UFC combat at Madison Sq. Backyard in New York Metropolis on Nov. 16, 2024. (Fox Information / Fox Information)
Alongside along with his involvement within the PIF, Al-Rumayyan chairs Saudi Aramco, the state-owned petroleum firm, in addition to the nation’s largest mining firm, Maaden. He’s additionally the chairman of the English Premier’s Newcastle United Soccer Membership.
Final yr, the PGA, DP World Tour and the PIF, which backs LIV Golf, introduced a deal to “unify the sport of golf, on a worldwide foundation.” The announcement got here almost 15 months after LIV Golf unveiled its first sequence, and a couple of yr after its first match.
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His Excellency Yasir O. Al-Rumayyan seems on throughout the UFC 309 occasion at Madison Sq. Backyard on November 16, 2024 in New York Metropolis. (Chris Unger/Zuffa LLC / Getty Photographs)
The deal additionally signaled {that a} dispute between the PGA Tour, the European tour and LIV Golf could be ending.
The PIF, which has been criticized in connection to human rights, can have funding exclusivity rights for the mixed golf entity, one thing the three teams mentioned included “a proper of first refusal on any capital that could be invested within the new entity, together with into the PGA TOUR, LIV Golf and DP World Tour.” The brand new group may also get capital from the Saudi sovereign wealth fund.
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President-elect Donald Trump, singer Child Rock, Vivek Ramaswamy and Yasir O. Al-Rumayyan arise after UFC Heavyweight Champion Jon Jones’ TKO victory in opposition to challenger Stipe Miocic within the UFC 309 heavyweight title bout at Madison Sq. Backyard in N (KENA BETANCUR/AFP by way of Getty Photographs / Getty Photographs)
Oversight of “industrial operations, companies and investments” on the new golf large will fall to the board of administrators whose full slate shall be revealed “at a later date,” the three entities mentioned. The discharge indicated {that a} majority of its members shall be picked by the PGA Tour, which may also get a majority voting curiosity.
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Within the new entity, PGA Tour Commissioner Jay Monahan will function the CEO whereas Al-Rumayyan will tackle the chairman place. These two may also sit on the board’s government committee.
Fox Information Digital’s Aislinn Murphy contributed to this report.
