President-elect Donald Trump announced Tuesday that the Emirati billionaire will invest at least $20 billion in data centers across the United States, a decision he said was “inspired” by his election.
President Trump announced the donation from Emirati billionaire Hussein Sajwani on Tuesday at his Mar-a-Lago resort. Mr. Sajwani owns DAMAC Properties, a real estate development company based in Dubai.
Mr. Sajwani, who President Trump described as a “highly respected gentleman,” said he plans to invest “at least $20 billion in the United States in a very short period of time, potentially doubling or slightly more than doubling that amount.” I can’t do it.”
“And I believe he would say he’s doing it out of the fact that he was very inspired by the election,” Trump added.
President Trump has previously vowed to speed up the permitting process for construction projects worth at least $1 billion in the United States.
DAMAC’s relationship with the Trump Organization extends beyond President Trump’s first term. For example, 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 has sought to distance himself from the Trump Organization. When he was first elected president, he resigned from all management positions. But he continues to own it.
Who is Sajwani? He has led several recent investments in data centers across Southeast Asia. Mr. Sajwani and his family maintain close ties to Mr. Trump. But in 2017, President Trump said he turned down a $2 billion investment that was earmarked for the Trump Organization.
Trump said at the time: “I didn’t have to say no, because, as you know, I’m president and we’re in a conflict-free situation.” “It’s convenient to have something, but I don’t want to use it.”
Sajwani, known as the “Donald of Dubai,” was one of the few international business investors who supported a strong relationship with President Trump in the aftermath of the Jan. 6, 2021, attack on the Capitol.
The filings show that Mr. Sajwani helped solidify President Trump’s 2013 agreement with DAMAC to build a Dubai golf course, from which the Trump Organization collected millions of dollars in management fees. has been done.
This post has been updated with more details about DAMAC.
