February 11, 2025

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Trump announces $20B US investment by Emirati businessman

Trump announces B US investment by Emirati businessman

WASHINGTON (AP) — President-elect Donald Trump on Tuesday announced a $20 billion investment for data centers in the United States by an Emirati company led by billionaire Hussain Sajwani, a close business partner of the Trump family.

The investment by DAMAC Properties in the United Arab Emirates is intended to highlight Trump’s personal ability to attract new money for big projects. The announcement follows a pledge made last month by the Japanese billionaire investor Masayoshi Son, while at Trump’s side, to invest $100 billion in the United States.

Trump said at a news conference that he believed Sajwani made the commitment because “he was very inspired by the election and wouldn’t do it without the election.” The president-elect emphasized his plans to get investments of $1 billion or more through the environmental regulatory review process quickly.

Following Trump, Sajwani briefly joined the news conference and said: “It’s been amazing news for me and my family when he was elected in November.”

Hussain Sajwani, CEO of DAMAC Properties, speaks as President-elect Donald Trump listens during a news conference at Mar-a-Lago, Tuesday, Jan. 7, 2024, in Palm Beach, Fla. (AP Photo/Evan Vucci)
Hussain Sajwani, CEO of DAMAC Properties, speaks as President-elect Donald Trump listens during a news conference at Mar-a-Lago, Tuesday, Jan. 7, 2024, in Palm Beach, Fla. (AP Photo/Evan Vucci) · ASSOCIATED PRESS

Sajwani’s promised investment feeds into an existing boom for constructing data centers used in the development of artificial intelligence and expansion of cryptocurrency, as well as in other elements of an increasingly digital economy that relies on having greater sources of computer processing power.

While Trump has sought to portray these announcements as a source of newfound energy in the U.S. economy, the $20 billion commitment is also a sign that wealthy investors close to Trump can profit off that relationship, given the already significant investment in new data centers.

In October, the financial company Blackstone estimated that the U.S. would see $1 trillion invested in data centers over five years, with another $1 trillion being committed internationally. The commitment made by Sajwani could represent just 2% of the total expected domestic investment in the sector.

Sajwani would gain data centers in the United States, which thus far have not been part of his company’s EDGNEX data center portfolio. According to the company’s website, it already has or plans to build data centers in the UAE, Saudi Arabia, Turkey, Spain, Thailand and Indonesia.

DAMAC Properties is one of the top private developers in the skyscraper-studded city-state in the United Arab Emirates.

The property developer has been a Trump partner. Under Sajwani, DAMAC built the Trump International Golf Club at a massive development in the city’s desert outskirts just before Trump first entered the White House.

Scott Bessent, left, President-elect Donald Trump's nominee to be Treasury secretary, meets with Sen. John Cornyn, R-Texas, a member of the Senate Finance Committee which will preside over Bessent's confirmation, at the Capitol in Washington, Tuesday, Jan. 7, 2025. (AP Photo/J. Scott Applewhite)
Scott Bessent, left, President-elect Donald Trump’s nominee to be Treasury secretary, meets with Sen. John Cornyn, R-Texas, a member of the Senate Finance Committee which will preside over Bessent’s confirmation, at the Capitol in Washington, Tuesday, Jan. 7, 2025. (AP Photo/J. Scott Applewhite) · ASSOCIATED PRESS

DAMAC also paid a licensing fee worth millions back to the Trump Organization, following a pattern the president-elect’s company has used in developments both in the U.S. and abroad.


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