Investing.com — President-elect Donald Trump is set to announce a significant $20 billion foreign investment aimed at building new data centers across the United States, according to a report by CNBC on Tuesday.
CNBC said a source familiar with the matter told them that the investment will be made by billionaire Hussain Sajwani, a close Trump associate and the chairman of DAMAC Properties.
The announcement is expected to be made from Mar-a-Lago, Trump’s residence and private club in Palm Beach, Florida, on Tuesday.
Eamon Javers, CNBC’s Senior Washington Correspondent, tweeted about the upcoming announcement, stating, “A source familiar tells me President-elect Trump is expected to announce new foreign investment into the U.S. economy in his Mar a Lago remarks next hour.
“The investment will be $20b to build new data centers across the country. The investor is billionaire Hussain Sajwani, chairman of DAMAC Properties, who has long done business with the Trump family.”