President-elect Donald Trump on Tuesday announced a $20 billion investment for data centers in the United States by a United Arab Emirates company led by billionaire Hussain Sajwani, a close business partner of the Trump family.
The Emirati business owner, who leads DAMAC Properties, based in Dubai, cited Trump's leadership as a driving force behind the decision, stating, "It's been amazing news for me and my family when he was elected."
Newsweek has reached out to both the Trump transition team and DAMAC Properties for further comment.
Why It Matters
Several tech leaders have urged the U.S. to increase its investment in data center infrastructure, emphasizing the growing demands of the rapidly expanding AI industry and crypto.
What to Know
Sajwani, CEO of DAMAC Properties and longtime Trump business partner, announced a $20 billion investment in U.S. data centers as part of expanding his EDGNEX portfolio.
At Tuesday's news conference, Trump attributed Sajwani's commitment to the initiative to the recent election, stating, "He was very inspired by the election and wouldn't do it without the election."
The president-elect also highlighted his plans to fast-track investments of $1 billion or more through the environmental regulatory review process, signaling a focus on streamlining major projects.
Who is Hussain Sajwani
Known for his luxurious real estate projects, DAMAC has developed Trump-branded properties in Dubai, but this is Sajwani's first major data center initiative in the U.S.
Born in 1953 in the U.A.E, Sajwani grew up in a family of entrepreneurs. Inspired by his father's shop, he developed an early interest in business and later earned a degree in industrial engineering and economics from the University of Washington.
He started his career catering for U.S. military operations during the Gulf War, which paved the way for founding DAMAC Properties in 2002.
Sajwani's partnership with Trump began with Trump International Golf Club, Dubai and other luxury developments, solidifying their business ties.
His new investment comes as the U.S. data center market is booming, with a Blackstone report projecting $1 trillion in investments over the next five years.
Sajwani's commitment represents 2 percent of that total, with plans to integrate these facilities into DAMAC's operations in the Middle East and Asia.
While Trump highlights this announcement as a boost to the U.S. economy, it also signals how wealthy investors close to him are positioned to benefit from the growing data center industry.
What People Are Saying
Donald Trump, President-elect, at the press conference: "This investment wouldn't have happened without the election. It's a testament to the renewed confidence in America's economic future."
Hussain Sajwani, CEO of DAMAC Properties, at the press conference: "The U.S. is the place to be for the future of technology."
Blackstone report: "The U.S. data center sector is poised for unprecedented growth. Foreign investments like this are key to maintaining global competitiveness."
What Happens Next
Construction of the data centers is set to start in early 2025, with DAMAC targeting full operations within two years. The initial phase will focus on sites in Texas, Arizona, Oklahoma, Louisiana, Ohio, Illinois, Michigan, and Indiana.
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