Live Updates: Trump's Mar-a-Lago Remarks, News on Trump's Presidential Transition

President-elect Donald Trump announced Tuesday that an Emirati billionaire would invest at least $20 billion in data centers across the United States, a move he said was inspired by his own election.

Trump announced the donation from Emirati billionaire Hussain Sajwani at his Mar-a-Lago resort on Tuesday. Sajwani owns DAMAC Properties, a real estate development company based in Dubai.

Sajwani, whom Trump described as a well-respected gentleman, will invest at least $20 billion in the United States over a very short period of time, and those investments could double or even slightly more.

And I think he'll say he's doing it because he was very inspired by the election, Trump added.

Trump has previously pledged to speed up the permitting process for construction projects that invest at least $1 billion in the United States.

DAMACS' ties to the Trump Organization extend beyond Trump's first term. For example, the real estate development group played a direct role in helping the Trump Organization build an 18-hole golf course in Dubai, which opened in 2017. The deal was first announced in 2013.

Trump has sought to distance himself from the Trump Organization. Once elected president, he resigned from all his leadership positions. However, he continues to own it.

Who is Sajwani? He recently led several data center investments in Southeast Asia. Sajwani and his family have close ties to Trump. However, in 2017, Trump said he turned down a $2 billion investment that would be allocated to the Trump Organization.

I didn't have to refuse, because as you know, I'm in a conflict-free situation because I'm president, Trump said at the time. It's a nice thing to have, but I don't want to take advantage of something.

Sajwani, nicknamed the Donald of Dubai, was one of the few international business investors to maintain a strong relationship with Trump immediately after the storming of the Capitol on January 6, 2021.

Sajwani helped cement Trump's 2013 deal with DAMAC to build the Dubai Golf Course, on which the Trump Organization collected several million dollars in management fees, filings show.

This article has been updated with more details about DAMAC.

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