The big winners of the recent weapons deal that President Donald Trump brokered with Saudi Arabia appear to be the corporations serving the military-industrial complex. After the deal was announced, US defense contractors saw their stocks soar to record highs on Wall Street.
Lockheed Martin was influential in setting up the deal with Trump’s son-in-law Jared Kushner lobbying their CEO directly. They stand to profit the most from the agreement. According to Yahoo News, Lockheed will provide missile and air defense, combat ships, tactical aircraft, and rotary wing technologies and programs to the tune of $28 billion.
“We are proud to be part of this historic announcement that will strengthen the relationship between the United States and the Kingdom of Saudi Arabia,” Lockheed Martin Chairman and CEO Marillyn Hewson said.
Other big winners of the agreement include Boeing and Blackstone. Boeing is now partnering with SaudiGulf Airlines to broker the sale of 16 wide-body airplanes. The Public Investment Fund (PIF) of Saudi Arabia is committing $20 billion to Blackstone’s new infrastructure fund, which is expected to help fund President Trump’s anticipated infrastructure programs. This influx of corporate welfare is giving these defense contractors much to smile about.
“These announcements reaffirm our commitment to the economic growth, prosperity and national security of both Saudi Arabia and the United States, helping to create or sustain thousands of jobs in our two countries,” Boeing Chief Executive Officer Dennis Muilenburg said.
Officials say the deal will ultimately funnel $350 billion worth of weapons into the coffers of a radical Islamic dictatorship that eschews democracy and operates under Sharia law. Obama previously set the record for most profligate weapons deal with the Saudis at $115 billion. Trump is set to nearly triple what Obama was able to accomplish, and the military-industrial complex could not be happier.