All articles tagged with #damac
Trump’s foreign licensing income climbed to $59.5 million in 2025, up 71% from 2024, driven largely by Gulf-region deals with Damac and Dar Al Arkan, plus licenses in Qatar, Oman and Vietnam; ethics experts warn of potential conflicts under the Foreign Emoluments Clause, though CNBC found no evidence that payments influenced administration decisions.
The U.S. government auctioned the 348-foot megayacht Amadea, seized amid sanctions on Russian oligarchs, for $187 million to Abbas Sajwani, the Dubai-based billionaire Hussain Sajwani’s son and partner with DAMAC Properties in a Trump Organization venture. The sale, kept private by officials, follows a lengthy legal fight that included the yacht’s maintenance costs while in U.S. custody. After the purchase, Amadea headed to Fort Lauderdale and Charleston for minor repairs, with Sajwani saying he plans to use it as a place to live.