U.S. President-elect Donald Trump makes remarks at Mar-a-Lago in Palm Beach, Florida, U.S. Jan. 7, 2025.Â
Carlos Barria | Reuters
President-elect Donald Trump on Tuesday announced a $20 billion foreign investment to build new data centers across the United States.
Emirati billionaire Hussain Sajwani, a Trump associate and founder of the property development company DAMAC Properties, is pledging “at least” that amount, the president-elect said at his Florida home Mar-a-Lago.
They may go double, or even somewhat more than double, that amount of money,” Trump said of Sajwani’s company.
The “first phase” of the plan will take place in Texas, Arizona, Oklahoma, Louisiana, Ohio, Illinois, Michigan and Indiana, Trump said.
Sajwani suggested that the Republican’s election spurred him to commit to the investment.
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] U.S. to very large amounts of money,” the Dubai developer said in brief remarks at Mar-a-Lago.
Sajwani’s pledge is the latest example of a foreign business leader promising to spend big in the U.S. as a result of Trump’s victory over Democratic Vice President Kamala Harris.
Last month, Softbank CEO Masayoshi Son announced plans to invest $100 billion in America and create 100,000 jobs over the course of Trump’s four-year term.
Trump, who takes office on Jan. 20, has sought to attract more foreign entities to do business in the U.S. by offering perks, such as expedited permits, for those that invest $1 billion or more.
This is breaking news. Please check back for updates.
