Hussain Sajwani: Business and Humanitarian
Hussain Sajwani is a successful businessman and philanthropist. He is the owner of Damac, a luxury real estate company located in the United Arab Emirates. Damac was founded in 2002. It played an influential role in the development of Dubai into a glitzy, developed, highly desirable place to live. He developed residential units, as well as other types of places such as golf courses. Damac was hit by the Great Recession of 2008, though it survived through the wise business decisions of Sajwani. After the recession happened, Hussain Sajwani put certain policies in place in order to protect against any future economic collapse. Some of these policies include allowing buyers to buy land only if they can pay for it in whole without being in debt, having cash reserves to protect against bad financial times and refusing to transfer money from one account to another.
Hussain Sajwani has also worked alongside Donald Trump in the pursuit of developing property. They made a deal to build two golf courses. One was finished in 2017, and the other will be finished in 2018. The Hussain Sajwani family has also socialized with the Trump family on a more informal level. Some people think that this shows a lack of integrity on the part of Donald Trump, since Donald Trump is keeping in contact with a family that he has business ties with. Many people think that this implies that Trump may have current business ties with Damac that could get in the way of him fulfilling his duties as president of the United States. However, Trump has committed to only associating with the Damac owner on a very informal level. Both families are friends with each other, and enjoy each other’s company.
Through his dealings, Hussain Sajwani accrued a massive amount of wealth. As of June 23rd, 2017, he is worth 3.9 billion dollars. Recently, he decided to give back to his community and to the world by handing over a $2 million dollar check to AED for the cause of clothing one million children all over the world.
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