President-elect Donald Trump on Tuesday announced an Emirati billionaire will invest at least $20 billion for data centers across the United States, a decision he said was “inspired” by his own election.
Trump announced the donation from Emirati billionaire Hussain Sajwani at his Mar-a-Lago resort on Tuesday. Sajwani owns DAMAC Properties, a property-development company based in Dubai.
Sajwani, who Trump described as a “very respected gentleman,” will be “investing at least $20 billion over a very short period of time into the United States, and they may go double, or even somewhat more than double.”
Trump has previously vowed to expedite the permitting process for construction projects that invest at least $1 billion in the US.
DAMAC’S connection with the Trump Organization extends beyond Trump’s first term. For instance, the real estate development group played a direct role in helping the Trump Organization build an 18-hole golf course in Dubai that opened in 2017. The deal was first announced in 2013.
Trump sought to distance himself from the Trump Organization. Once first elected president, he resigned from all management roles. However, he continues to own it.
Related Post
Who is Sajwani? He has spearheaded several recent investments in data centers across Southeast Asia. Sajwani and his family have maintained close ties with Trump. However, in 2017 Trump said he turned down a $2 billion investment from him that would be allocated toward the Trump Organization.
“I didn’t have to turn it down, because as you know, I have a no-conflict situation because I’m president,” Trump said at the time. “It’s a nice thing to have, but I don’t want to take advantage of something.”
Sajwani, dubbed “The Donald of Dubai,” was one of the few international business investors that upheld a strong relationship with Trump in the immediate aftermath of the Capitol storming on January 6, 2021.
Sajwani helped cement the 2013 deal between Trump and DAMAC to build the Dubai golf course, from which the Trump Organization has collected several million dollars in management fees, filings indicate.
This post has been updated with more details on DAMAC.
