I was in the room when Trump addressed leaders in Davos. Here are my top takeaways

This week in Davos has been about manythings:AI, geopolitics and markets.ButPresident Donald Trump has beenfirmly at the front ofeveryone’s mind.

His much-anticipated address at the World Economic Forum drew thousands, with attendees queuing for hours to get into the Congress Hall.

I was one of them. I stood in line for more than an hour and a half. Even Blackstone Group CEO Steve Schwarzman had to wait in line with the rest of us. I finally cleared security and found a seat — lucky,given that many were refused entry to the hall.

As thecrowdpacked in, the atmosphere began to resemble something closer to a star- studdedconcertthan a policy forum. The audience includedApple CEOTim Cook, European Central Bank President Christine Lagarde, World Bank President Ajay Banga, as well as senior political and business figures suchas Secretary of StateMarco Rubio,Secretary of CommerceHoward Lutnick,Treasury SecretaryScott Bessent andCanadian Prime MinisterMark Carney.

There weresomelighter moments before the speech began; Cook greeting Banga with a tight hug, Lagarde exchanging warm hellos with European officials — small, human interactions before the room shifted into anticipation.

Trump was met with loud applause as he took the stage for what many billed as the most closely watched speech of this year’s Davos.

He opened by saying it was good to see so many friends and “some enemies,” drawing laughter from the crowd. From there, he leaned heavily into self-assessment, describing himself as the most successful president and pointing to what he said werehismajor achievementsaccomplishedin just one year.

“People are doing very well and are happy with me,” Trump said, prompting a mix of laughter and applause.

The tone oscillated between humor and provocation. Trump took aim at several figures, including a swipe atFrench PresidentEmmanuel Macron’ssunglasses, asking:”What the hell was that?”

He also directed a number of comments at Carney.A CEO seated nearby toldme, on condition of anonymity, that Carneytook it in good humor,smiling and nodding along.

“So they have a choice. You can say yes, and we will be very appreciative. Or you can say no and we will remember,” Trump said on Greenland, although he did, for the first time,say he would not use force — resulting in a collective sigh of relief.

Trump also kept referring to Greenland as a “piece of ice”and appeared to confuse it with Iceland — another European country altogether.

The presidentalso criticised Europe more broadly, saying parts of the continent had become “unrecognizable,” and described former Swiss President Karin Keller-Sutter as “difficult.”

“She kept saying the same thing over and over. She rubbed me the wrong way,” he said.

The address was followed by a fireside chat with WEF President Børge Brende, but by then— after well over an hour —some of the audience had begun to drift out.

As I left, I asked a few attendeeswhat they thought. One tech CEO summed it up succinctly: he wasn’t sure whether to laugh or feel nervous, a sentiment echoed by several others.

“Yes, we laughed,” one politician told me. “But it’s also frightening to think he might actually try to execute some of this.”