Trump announces $20B US investment by Emirati businessman
Associated PressWASHINGTON — 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. 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.” 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. 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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