• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Gen Zers are arriving at college unable to even read a sentence—professors warn it could lead to a generation of anxious and lonely graduates

2

'We didn’t see this coming': Wall Street eats its forecasts as stocks sell off globally on fear of AI bubble ahead of SpaceX IPO

3

'The golden years are not golden': Boomers are hoarding most of America's wealth and power because they're terrified of outliving their money

1

Gen Zers are arriving at college unable to even read a sentence—professors warn it could lead to a generation of anxious and lonely graduates

2

'We didn’t see this coming': Wall Street eats its forecasts as stocks sell off globally on fear of AI bubble ahead of SpaceX IPO

3

'The golden years are not golden': Boomers are hoarding most of America's wealth and power because they're terrified of outliving their money
FinanceSaudi Arabia

The PGA Tour’s lawsuit against Saudi Arabia could force disclosure about Donald Trump secrets and much more

By
Ellen Knickmeyer
Ellen Knickmeyer
and
The Associated Press
The Associated Press
Down Arrow Button Icon
By
Ellen Knickmeyer
Ellen Knickmeyer
and
The Associated Press
The Associated Press
Down Arrow Button Icon
March 12, 2023, 11:29 AM ET
Donald Trump and Yasir Al-Rumayyan
Former President Donald Trump, left, talks with Yasir Al-Rumayyan, governor of Saudi Arabia's Public Investment Fund, on the 16th hole during the first round of the Bedminster Invitational LIV Golf tournament in Bedminster, NJ., July 29, 2022.Seth Wenig—AP Images

Officials who oversee Saudi Arabia’s tens of billions of dollars in U.S. investments haven’t been shy about flaunting their ties with top American business and political figures, down to wearing MAGA caps as they swing golf clubs alongside former President Donald Trump. But they’ve been silent about many of the details of these relationships.

That’s changing as a result of a federal lawsuit in California pitting the Saudi-owned golf tour upstart LIV against the PGA Tour. A judge, citing what she described as the kingdom’s hands-on management of LIV, found that when it came to the new golf league, Saudi officials and the Saudi government aren’t shielded from U.S. courts the way sovereign nations usually are.

While Saudi Arabia is fighting the decision, insisting U.S. courts have no jurisdiction over its high officials, the ruling means lawyers for the PGA Tour would be able to question top officials about business secrets that the Saudis have held close, such as details of deal-making involving 2024 presidential candidate Trump and others.

U.S. District Judge Beth Labson Freeman found that the Saudis had smacked up against a commercial exception to U.S. laws on sovereign immunity.

Yasir al Rumayyan, appointed under Crown Prince Mohammed bin Salman to manage the oil-rich Saudi government’s $600 billion-plus stockpile of wealth, is “up to his eyeballs” in managing the golf tour, Labson Freeman declared.

The finding follows PGA Tour claims that al Rumayyan himself recruited LIV players, approved LIV contracts and was otherwise the golf league’s decision-maker and manager. Lawyers for Saudi Arabia counter that Rumayyan’s actions were those of an eager investor, not of someone actually running a business.

The case matters beyond the world of golf. Saudi Arabia has been assertive in U.S. business investments and political relationships and could now face court demands for greater transparency and accountability.

The insistence by Saudi officials that U.S. courts have little or no say over their actions is especially sensitive. Last year, the kingdom, with legal backing from the Biden administration, successfully argued that American courts had no authority to try the prince in a lawsuit over the 2018 killing of U.S.-based journalist Jamal Khashoggi. U.S. intelligence officials had concluded that aides and other Saudi officials sent by the prince killed Khashoggi. The slaying has opened a lasting rift between the Biden administration and Prince Mohammed, Saudi Arabia’s de facto ruler.

Longstanding international law generally protects the leaders and government of one country from being hauled into another country’s courts. Congress carved out commercial activity as an exception to that sovereign immunity in 1976.

The PGA Tour argued in a filing Friday that Saudi Arabia and its sovereign wealth fund under the prince have a record of flip-flopping on insisting upon sovereign immunity, depending on whether doing so works to their advantage in various business deals and lawsuits.

Saudi Arabia’s critics and independent legal experts and analysts say the kingdom may be in a tough spot legally.

“It seemed to me very clear that it wasn’t immune” from U.S. courts when it came to operating the LIV golf tour and tournaments, said Donald Baker, a lawyer and a former head in the Justice Department’s antitrust division who is not involved in the case.

Baker projected the case could lead to California’s Northern District federal court seeking depositions from Saudi royals. Any decisions on whether other Saudi government business deals in the United States have similarly lost their immunity from U.S. courts would have to be made on a case-by-case basis, he said.

Sarah Leah Whitson, who runs the Democracy for the Arab World Now rights group founded by Khashoggi, said that “if they want to have sovereign immunity from their business transactions, it means they can sue people, they can demand that the judicial system enforces contracts and the laws governing contracts, but nobody can impose that against them. Nobody can hold them accountable.”

The Saudi-funded professional golf tour, now in its second season and with a slogan of “Golf, but louder,” is known for its blaring music, record multimillion-dollar purses, ties with Trump and unfriendly rivalry with the PGA Tour. Trump courses this year will host three LIV tournaments, in deals whose financial terms have not been publicly disclosed.

Saudi Arabia’s immunity problem comes in an antitrust lawsuit that was initially brought by LIV players against the long-established PGA Tour. The case already has revealed that the Saudi government’s sovereign wealth fund owns 93% of LIV.

A lawyer for Saudi Arabia’s side of the case did not respond to an email from The Associated Press seeking comment. A LIV spokeswoman referred questions to the Saudi sovereign wealth fund, which also did not respond to requests for comment.

Under the now eight-year rule of Saudi Arabia’s king, Salman, his son Prince Mohammed has made the kingdom’s sovereign wealth fund a primary tool of Saudi investment at home and abroad. The prince is the fund’s chairman. Saudi officials say the aim is to diversify the kingdom’s oil-funded economy.

Under Prince Mohammed and fund governor al Rumayyan, the fund has more than $30 billion invested in Uber, Meta, luxury electric car brand and Tesla rival Lucid, Paypal, Costco and other publicly traded U.S. businesses.

The fund also has consolidated Saudis’ relationship with the Trump family, using Trump golf courses and directing $2 billion to the investment firm of Trump son-in-law Jared Kushner.

Rumayyan sits on the board of Uber. He plays golf with Trump. He triggered one of Elon Musk’s biggest tweet storms and legal cases, when Musk tweeted about what he later testified was the prospect of a Saudi sovereign wealth fund deal to take Tesla private.

The Saudi sovereign wealth fund also is spending heavily on sports. In addition to creating the LIV golf tour, the Saudis have bought the Newcastle United soccer team in Britain’s Premier League and hosted Formula One races, horse races with record prize money, and other tournaments and matches, from snooker to boxing and chess.

Saudi Arabia is presenting itself as an energetic, youthful and business-friendly government. Human rights groups counter with the word “sportswashing,” saying the kingdom under Prince Mohammed’s influence is trying to distance itself from the killing of Khashoggi, the jailing of other rights advocates, and a failed war in Yemen. U.S. critics paint Saudi Arabia’s financial deals with Trump and Kushner as the oil kingdom backing one side in America’s highly partisan politics.

“They’re really trying to rebrand the kingdom … using sport to reach a much wider public audience and trying to tap into some of the passion that people have,” said Kristian Ulrichsen, a fellow for the Middle East at the Baker Institute in Houston.

To close the deal buying Newcastle United, Saudi Arabia’s sovereign wealth fund provided what authorities said were “legally binding assurances” that the kingdom would not be involved in running the team, even though Rumayyan serves as team chairman. Rights advocates argued unsuccessfully for a reexamination of that deal in light of the rulings of the California federal court.

Critics — and the PGA Tour lawyers in Friday’s filing — also contend Saudi Arabia willingly waived sovereign immunity when it submitted government documents in another U.S. case, against a Saudi who had served as a top intelligence official under the previous king. The United States intervened to quash the case on the grounds it threatened to reveal national security secrets.

In the golf lawsuit, LIV players and the Saudi sovereign wealth fund, formally called the Public Investment Fund, argue that unfair practices by the PGA are harming LIV. PGA lawyers respond in filings that it’s the reputations of Saudi Arabia and Prince Mohammed that are scaring away business.

___

AP Golf Writer Doug Ferguson contributed to this report.

Fortune's CFO Daily newsletter is the must-read analysis every finance professional needs to get ahead. Sign up today.

About the Authors
By Ellen Knickmeyer
See full bioRight Arrow Button Icon
By The Associated Press
See full bioRight Arrow Button Icon

Latest in Finance

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Finance

Best private student loans for grad school in June 2026
Personal FinanceLoans
Best private student loans for grad school in June 2026
By Joseph HostetlerJune 8, 2026
5 hours ago
AXA launches a new insurance and wealth platform for HNWIs as Hong Kong wealth surges past Switzerland
AsiaAXA
AXA launches a new insurance and wealth platform for HNWIs as Hong Kong wealth surges past Switzerland
By Nicholas GordonJune 8, 2026
5 hours ago
Child struggling with schoolwork
EconomyEducation
70% of fourth-graders aren’t reading proficiently, report finds—one of several areas where education is failing America’s kids
By Tristan BoveJune 8, 2026
7 hours ago
The global airline industry’s profits could be cut in half as it braces for its worst year since the pandemic
EnergyAirline industry
The global airline industry’s profits could be cut in half as it braces for its worst year since the pandemic
By Marco Quiroz-GutierrezJune 8, 2026
7 hours ago
A trader works on the floor of the American Stock Exchange (AMEX) at the New York Stock Exchange (NYSE) in New York, US, on Friday, June 5, 2026.
InvestingWall Street
The AI trade’s worst day in a year became a buying opportunity by Monday
By Eva RoytburgJune 8, 2026
9 hours ago
Young people working in an office.
EconomyGen Z
Gen Z might be the flakiest generation when it comes to career and life decisions. They might also be the most intentional
By Tristan BoveJune 8, 2026
10 hours ago

Most Popular

Gen Zers are arriving at college unable to even read a sentence—professors warn it could lead to a generation of anxious and lonely graduates
Success
Gen Zers are arriving at college unable to even read a sentence—professors warn it could lead to a generation of anxious and lonely graduates
By Preston ForeJune 7, 2026
2 days ago
'We didn’t see this coming': Wall Street eats its forecasts as stocks sell off globally on fear of AI bubble ahead of SpaceX IPO
Economy
'We didn’t see this coming': Wall Street eats its forecasts as stocks sell off globally on fear of AI bubble ahead of SpaceX IPO
By Jim EdwardsJune 8, 2026
17 hours ago
'The golden years are not golden': Boomers are hoarding most of America's wealth and power because they're terrified of outliving their money
Economy
'The golden years are not golden': Boomers are hoarding most of America's wealth and power because they're terrified of outliving their money
By Nick LichtenbergJune 7, 2026
2 days ago
Current price of oil as of June 8, 2026
Personal Finance
Current price of oil as of June 8, 2026
By Joseph HostetlerJune 8, 2026
13 hours ago
Trump stunned as stocks fall on great jobs report. Barclays explains why ‘we are entering the warning zone'
Big Tech
Trump stunned as stocks fall on great jobs report. Barclays explains why ‘we are entering the warning zone'
By Eva RoytburgJune 7, 2026
1 day ago
SpaceX's IPO will also be a massive selling event triggering big price dislocations across the stock market as investors dump shares to buy SPCX
Investing
SpaceX's IPO will also be a massive selling event triggering big price dislocations across the stock market as investors dump shares to buy SPCX
By Jason MaJune 7, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.