Emirati billionaire pledges billions, citing Trump's election as a driver for US expansion
President-elect Donald Trump announced on Tuesday that Emirati billionaire Hussain Sajwani, founder of DAMAC Properties, has pledged at least US$20bn to build new data centres across the United States.
Trump announced during an event at his Mar-a-Lago residence in Florida that the investment could “double, or even somewhat more than double” the initial commitment, according to a CNBC report.
The first phase of the project will include data centres in Texas, Arizona, Oklahoma, Louisiana, Ohio, Illinois, Michigan, and Indiana, according to Trump.
He highlighted the scope of Sajwani’s investment, suggesting that the commitment reflects confidence in the US economy.
Sajwani indicated that Trump’s election victory influenced his decision to increase investments in the US
“It’s been amazing news for me and my family when [Trump] was elected in November. We’ve been waiting four years to increase our investment in [the] US to very large amounts of money,” he said in brief remarks at Mar-a-Lago.
Sajwani’s pledge marks another example of foreign business leaders increasing investments in the US following Trump’s election.
In December, Softbank CEO Masayoshi Son announced plans to invest US$100bn and create 100,000 jobs during Trump’s term.
Trump has encouraged foreign businesses to invest in the US by offering incentives such as expedited permits for companies pledging US$1bn or more.
He views these investments as critical for economic growth and job creation, with Sajwani’s project positioned as a significant addition to this trend.
Trump is set to take office on January 20, with his administration prioritizing initiatives to attract foreign investments and enhance US economic competitiveness.
