Latest news with #DamacGroup
Time of India
23-04-2025
- Business
- Time of India
Meet Hussain Sajwani: This Dubai billionaire will invest $20 billion in US - Met Donald Trump & had Breakfast with Elon Musk
Hussain Sajwani Dubai based billionaire: Hussain Sajwani, a Dubai-based billionaire and the chairman of Damac Group, recently made headlines after sharing a photo with tech mogul Elon Musk and Shivon Zilis, Musk's Indian-origin partner. The picture, posted on X (formerly Twitter), was taken at the White House during what Mr Sajwani described as a 'memorable morning breakfast' with Elon Musk and his family. And another post he met with US President Donald Trump, "It was a pleasure to meet President Donald Trump once again at the Oval Office, a valuable moment of dialogue and exchange.", he wrote. It was a pleasure to meet President Donald Trump once again at the Oval Office — a valuable moment of dialogue and exchange. The post sparked curiosity as to why Hussain Sajwani was at such a high-profile location alongside one of the world's most influential entrepreneurs. The answer lies in his recent announcement of a massive investment plan in the United States. Hussain Sajwani Net Worth & Background Hussain Sajwani is one of the most successful businessmen in the Middle East. He is the founder and chairman of Damac Properties, a real estate development company known for its luxurious projects in Dubai and beyond. According to Forbes, Hussain Sajwani's net worth is around $10.2 billion as of 2024. His business empire spans across property development, hospitality, and now, international tech infrastructure. Longstanding Ties with Donald Trump Hussain Sajwani's name is not new in the American spotlight. He gained attention in 2016 when he appeared at a New Year's Eve party hosted by Donald Trump at Mar-a-Lago. At the time, Damac was building a Trump-branded golf course in Dubai, showcasing their strong business ties. Fast forward to 2024, and Sajwani is once again in the company of Donald Trump — this time, for a much larger venture. $20 Billion Investment in the United States Hussain Sajwani has announced plans to invest a whopping $20 billion in the United States, focusing primarily on building state-of-the-art data centres. The investment is expected to cover multiple states, including Arizona, Michigan, Texas, Ohio, Louisiana, Oklahoma, Indiana, and Illinois. According to Donald Trump, who stood beside Sajwani at a press conference earlier this year, the investment 'will support massive new data centres across the Midwest and the Sun Belt regions,' and 'keep America at the forefront of artificial intelligence and technology.' More Than Just $20 Billion? While the initial plan includes a $20 billion investment, Hussain Sajwani has hinted that the amount could grow even further depending on market conditions. 'If the opportunity allows, we are ready to expand beyond this,' he reportedly said, signalling his long-term commitment to technological development in the US. Why This Investment Matters This massive project marks one of the largest foreign investments in US data infrastructure. It reflects Hussain Sajwani's vision of future technology and solidifies his reputation as not just a real estate tycoon, but a global investor with a sharp eye on innovation. With close ties to global influencers like Donald Trump and Elon Musk, Hussain Sajwani is becoming a central figure in the growing intersection of business, politics, and technology. Hussain Sajwani's journey from building luxury properties in Dubai to investing billions in American data centres is a testament to his ambition and vision. With his net worth climbing and global partnerships expanding, Hussain Sajwani is a name we'll be hearing more often-especially when conversations involve Elon Musk, Donald Trump, and transformative investments in the United States. For the latest and more interesting financial news, keep reading Indiatimes Worth. Click here.
Hindustan Times
22-04-2025
- Business
- Hindustan Times
Dubai billionaire's breakfast at White House with Elon Musk and his Indian-origin partner
Elon Musk and his Indian-origin partner Shivon Zilis were recently photographed together at the White House with Dubai billionaire Hussain Sajwani. Sajwani, the founder and chairman of Damac Group, shared a photograph from the meeting on social media platforms like X, Facebook and LinkedIn. 'Had a great breakfast at the White House with Elon Musk and family — a memorable morning,' the Dubai billionaire wrote on X, sharing a photograph that shows Elon Musk holding a plate of food, with Zilis by his side smiling for the camera. According to Bloomberg, since Trump was first elected to office in 2016, Hussain Sajwani has wanted the world to know he was the US president's man in the Middle East. 'The real estate billionaire thrust himself into the spotlight again in January, standing alongside Trump and promising an investment of at least $20 billion to build new US data centers from Arizona to Ohio,' Bloomberg reported. His proximity to the US president seems to have earned Sajwani access to the White House and some of its top officials, including Elon Musk, who heads the US Department of Government Efficiency. (Also read: Influencer Ashley St Clair, 26, claims Elon Musk, 53, fathered her child, gave her lavish apartment but no romance) Along with Musk, he also met Shivon Zilis at the White House. Zilis is a Canadian businesswoman and executive at Neuralink, the neurotechnology company co-founded by Elon Musk. She was born to a Punjabi mother and a Canadian father. Zilis and Musk have four children together. Musk, CEO of Tesla, also has other children with multiple women, but a recent Wall Street Journal report indicated that Zilis enjoys 'special status' within Musk's inner circle. She had earlier accompanied Musk to a meeting with Prime Minister Narendra Modi. (Also read: Who is Shivon Zilis, Elon Musk's partner who announced birth of their 4th child?)
Khaleej Times
31-03-2025
- Business
- Khaleej Times
Dubai: Damac's EDGNEX acquires European data centre firm
EDGNEX Data Centres by Damac, the digital infrastructure platform of the Dubai-headquartered Damac Group, has acquired Finland-founded data centre company, Hyperco. The Dubai-based property giant aims to strengthening its presence in the European market and contributing to the region's evolving data center landscape, creating new jobs and promoting economic development. Damac, however, didn't disclose the value of the acquisition. Earlier this year, Damac Group announced plans to invest $20 billion (Dh73.4 billion) in the US. Hyperco's operations are focused on Finland and Sweden, leveraging the Nordic region's sustainable energy resources, mature digital ecosystems, and high connectivity. All three Hyperco founders, together with the team, will continue to steer the company forward during the next growth phase. 'This acquisition aligns with our vision to develop strong partnerships, invest, and build scalable, world-class digital infrastructure. Hyperco brings a great team, deep market expertise, and a shared commitment to innovation, which will drive our success in the region. We plan to build a significant future capacity in the Nordics and establish a strong foothold in the market,' said Hussain Sajwani, founder of Damac Group. 'This marks an exciting new chapter for Hyperco. Joining forces with EDGNEX and Damac Group empowers us to accelerate our mission of delivering large-scale, sustainable data center infrastructure tailored for hyperscalers and AI-driven workloads. With our established footprint in Finland and Sweden, access to low-carbon energy, and focus on scalability, we are well-positioned to meet the growing digital demands of the region and beyond,' said Aleksi Taipale, co-founder and CEO of Hyperco. Since its launch in 2021, EDGNEX has grown its presence globally. Backed by over 100+ seasoned professionals, the company is on track to deliver 55 MW in the Middle East by 2025, with a projected global capacity exceeding 3,000 MW. EDGNEX is targeting more than 300MW of operational capacity by 2026, supported by a robust investment pipeline of over $3 billion, including key Southeast Asian markets. EDGNEX's recent European activities include a €150 million joint venture in Greece with Public Power Corporation (PPC) to develop up to 25 MW and a €400 million commitment to build a 40 MW data center in Madrid, Spain. Earlier this year, EDGNEX also announced $20 billion of foreign investment in building state-of-the-art data centres in the USA.
