By Maria Derchi Russo
The Future Investment Initiative (FII)’s Priority Summit was back in Miami Beach last week, bringing together a who’s who of industry leaders, government leaders and investors to tackle some of the most pressing challenges and transformative opportunities of today’s global economy. The theme: “Invest With Purpose.”
The event, back for a third year and hosted by Saudi Arabia’s sovereign wealth fund, drew a long list of recognizable names taking the stage, including President Trump, Serena Williams, Alexis Ohanian, Dara Khosrowshahi and Eric Schmidt. There was also a strong contingent of Miami-based leaders including Ken Griffin, Marcelo Claure and Miami Mayor Francis Suarez as well as local founders like Matteo Fanceschetti of Eight Sleep and Ivan Soto-Wright of MoonPay.
The city itself took center stage on multiple occasions at the Faena Forum, including during President Trump’s speech where he acknowledged Miami as the “center of the action” for cryptocurrency. The city’s welcoming nature and business-friendly environment was commended by restaurateurs David Grutman of Groot Hospitality and Jeff Zalaznick, co-founder of Major Food Group.
“They realize that without hospitality you can’t attract the big tech companies, the big finance companies, the big investment firms – you can’t bring those people in because they need places to eat and places to sleep, and when they’re making those decisions, it comes into their minds,” said Zalaznick.
On a panel with Mayor Suarez, Griffin, Citadel’s founder and CEO, praised local government for working for its citizens. “When you feel like your government has your back, you’re much more willing to take steps in building your business to create jobs, to create opportunities, to make investments in factories and in people. It’s a completely different mindset than you find in other states,” Griffin said.
But the big news came immediately following the panel where Mayor Suarez, joined onstage by Princess Reema bint Bandar Al Saud and H.E. Khalid bin Abdulaziz Al-Falih, announced the opening of Invest Saudi’s second U.S. office in Miami (the first is located in Washington, D.C.). The office will be focused on facilitating both inbound investment in the Kingdom of Saudi Arabia but also outbound investment.
“We are proud and delighted and confident that this office, once it’s open, is going to be a key link for all of you investors from around the world into the Kingdom, but also for us to know about the opportunities that are open through Miami,” said Abdulaziz Al-Falih.
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