Emirati Billionaire Hussain Sajwani Pledges $20 Billion Investment In US Data Centers

Emirati billionaire Hussain Sajwani on Tuesday announced a $20 billion investment in the growing U.S. data center industry, which he discussed with United States President-elect Donald Trump at Trump's home in Palm Beach, Florida. Sajwani celebrated the New Year with Trump in Florida.

Sajwani is an Emirati billionaire and the founder of DAMAC Properties, a leading real estate development company based in Dubai. He is known for his contributions to the luxury real estate market in the Middle East, with projects spanning residential, commercial, and hospitality sectors.

"We're planning to invest $20 billion and even more than that, if the opportunity in the market allows us," the Emirati billionaire was quoted as saying by Reuters.

Trump, whose election win was largely based on economic concerns, has focused on boosting domestic industry investments. He has also proposed higher tariffs on Chinese goods to limit China's access to the chips needed for advanced data centers.

DAMAC, owned by Sajwani, operates the only Trump-branded golf course in the Middle East, located in Dubai, which opened in 2017. Trump is known for announcing major investments to promote economic growth, though these investments don't always succeed.

During his first term, he announced a $10 billion Foxconn investment in a Wisconsin factory, which promised thousands of jobs but was mostly abandoned. Last month, Trump and Masayoshi Son, CEO of SoftBank Group, revealed that SoftBank would invest $100 billion in the U.S. over the next four years, focusing on AI.

The launch of OpenAI's ChatGPT in late 2022 sparked a surge in investments in generative AI technology and the infrastructure needed to support it, including power generation and transmission.

Microsoft announced last week that it plans to spend around $80 billion this fiscal year to increase its AI capabilities. Under the Biden administration, restrictions on the export of valuable AI chips to China for advanced data centers have become stricter.

Furthermore, Trump has nominated China hardliners for important diplomatic and economic positions in his administration.

Sajwani is known for his close ties with global leaders, including former U.S. President Trump. He has been a key figure in fostering business relations between the UAE and other nations.