President Donald Trump’s administration has recently announced a plan to grant Saudi Arabia access to American nuclear technology, a move aligned with broader efforts to accelerate U.S.-backed nuclear power projects globally. However, this initiative could also create financial opportunities for individuals and companies connected to the president and his allies, raising questions about potential conflicts of interest.

Although there is no direct evidence that Trump’s family or close associates orchestrated the Saudi nuclear deal, several members within his circle stand to benefit financially if the administration’s push toward expanding nuclear energy supply succeeds. The global demand for electricity is rising, driven by growth in data centers and consumer consumption, prompting investments across the nuclear sector—including large-scale reactors, small modular reactors, uranium mining, and plant construction.

One key player in the prospective deal is Westinghouse, a U.S.-based company owned by Brookfield Asset Management, a major North American commercial real estate owner. Brookfield frequently collaborates with Newmark, a real estate firm partly owned by the sons of Commerce Secretary Howard Lutnick. Newmark has been involved in financing significant U.S. data center projects promoted by Lutnick and Trump, underscoring interwoven business relationships within the administration’s nuclear agenda.

White House spokeswoman Taylor Rogers stated that President Trump’s focus remains on increasing electricity supply rather than favoring any specific companies connected to his network, dismissing media inquiries about conflicts of interest as misleading. Westinghouse CEO Dan Sumner described the Saudi agreement as a “landmark step” benefiting U.S. industry and workers, while a Brookfield representative emphasized robust conflict-of-interest management processes.

Within the Trump family, various ties to nuclear energy investments have emerged. Trump Media & Technology Group, the parent company of the Truth Social platform, announced a $5 billion merger with nuclear-focused start-up TAE Technologies, a recipient of funding from the Energy Department’s Office of Fusion Energy Science. The president’s sons, Eric Trump and Donald Trump Jr., are also co-owners of Quantum Leap Energy, which develops nuclear fuel isotopes and has partnered with a Texas company co-founded by former Energy Secretary Rick Perry. Perry is currently seeking federal support for new nuclear projects in Texas.

Jared Kushner, Trump’s son-in-law and former senior White House adviser, has maintained complex links to Saudi Arabia’s nuclear ambitions. Kushner played a role in initial discussions about Saudi access to U.S. nuclear technology and helped broker the Abraham Accords, a series of normalization agreements between Israel and Arab states. Saudi Arabia’s sovereign wealth fund, heavily invested in Kushner’s private equity firm Affinity Partners, committed $2 billion shortly after Kushner left the White House. Currently, the Saudi government plans to finance its nuclear program independently.

Within the Trump cabinet, officials have close connections to the nuclear sector. Commerce Secretary Howard Lutnick and Energy Secretary Chris Wright have ties to companies positioned to benefit from increased federal investment. Lutnick’s former investment bank, Cantor Fitzgerald, has actively assisted several nuclear companies—such as Oklo, Energy Fuels Inc., and enCore Energy—in raising capital, which generates significant fees. Notably, Oklo received a commercial site-use permit from the Energy Department in 2019, and Wright served on its board before joining the cabinet. Energy Fuels is slated to receive a $725 million Pentagon loan to expand uranium mining.

The nuclear deal also intertwines with influential donors and tech companies aligned with Trump’s energy policies. Peter Thiel, a prominent early Trump supporter and backer of Vice President JD Vance, is a major investor in General Matter, a company producing high-assay low-enriched uranium. General Matter received a $900 million Energy Department contract and export financing from the U.S. Export-Import Bank, where Lutnick serves on the board.

Major technology firms—including Amazon, Meta, Google, and Microsoft—have contributed to Trump’s 2025 inauguration and support the administration’s energy goals. These companies are engaged in a Department of Energy initiative called Genesis Mission, which uses artificial intelligence to advance U.S. energy projects. While some of these firms declined to comment on potential benefits from the Saudi nuclear deal, their involvement underscores the expanding role of tech in energy infrastructure.

The Trump administration’s nuclear strategy reflects a convergence of policy ambitions, business interests, and political alliances. While officials argue the focus is on energy independence and innovation, overlapping financial relationships raise ongoing concerns about the potential for personal enrichment tied to national policy decisions.