President Donald Trump is expected to make an appearance in Miami Beach Wednesday evening, at an investment conference hosted by Saudi Arabia’s affluent sovereign wealth fund.
Trump landed at Miami International Airport Wednesday morning and was scheduled to arrive at the Faena Hotel at 4:30 p.m. for the Future Investment Initiative (FII) Institute Priority Summit, which was due to be attended by several billionaires. The summit’s agenda lists the president as a speaker.
The appearance comes after Trump suggested the U.S. take over the Gaza Strip and relocate the millions Palestinians living there. The plan has sparked outrage from several Middle Eastern countries including Saudi Arabia.
“The Kingdom of Saudi Arabia reiterates its firm rejection of any infringement on the legitimate rights of the Palestinian people,” the Saudi Foreign Ministry said in a statement.
President Trump is expected to leave the conference around 6.15 p.m. to head to Miami International Airport, which is expected to cause traffic delays for drivers on either State Road 112 or 836.
Miami Beach Police have warned residents to expect traffic delays throughout the day.
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“Motorists may experience traffic impacts in the Mid Beach district as early as 9 a.m and intermittent and extended road closures in the area between 3:30 p.m. and 6:30 p.m,” the Miami Beach Police Department announced on X.
Parking will also not be allowed from 9 a.m. to 7 p.m. on Collins Avenue and Indian Creek Drive, between 30th Street and 41st Street.
Mayor Francis Suarez is reportedly set to speak at the conference, alongside TikTok CEO Shou Zi Chew, Inter Miami CF managing owner Jorge Mas, Miami Dolphins owner Stephen Ross and others.
FII is an investment arm of the sovereign wealth fund, the kingdom’s investment entity worth a reported $925 billion generated mostly from oil revenue.
It’s a critical component of Saudi Vision 2030, a set of initiatives intended to diversify Saudi Arabia’s economic portfolio beyond the oil sector. This includes developing the country’s tourism industry, exploring renewable energy alternatives and investing in domestic infrastructure.
Prior to Trump’s remarks on the Gaza Strip, Saudi Arabian Crown Prince Mohammed bin Salman announced a plan to invest $600 billion in the U.S. over the next four years, strengthening the trade relationship.
