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Business
David Gura

Wall Street eager to strike deals with Saudi Arabia, despite political concerns

Attendees watch David Solomon, chief executive officer of Goldman Sachs & Co., on a screen as he speaks during a panel session at the Future Investment Initiative (FII) conference in Riyadh, Saudi Arabia, on Tuesday, Oct. 25, 2022. (Tasneem Alsultan/Bloomberg via Getty Images)

The relationship between the United States and Saudi Arabia is at its lowest point in decades. But that hasn't stopped Wall Street executives and some of the world's wealthiest investors from gathering in Riyadh for a conference that's nicknamed "Davos in the Desert."

On Tuesday, Jamie Dimon and David Solomon, the CEOs of J.P. Morgan Chase and Goldman Sachs, respectively, shared a stage with billionaires Stephen Schwarzman, of The Blackstone Group, and Ray Dalio, who founded the world's largest hedge fund.

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