Ambani's Reliance Pays Trump's Real Estate Firm $10M For Mumbai Licensing Deal: Report
United States: Mukesh Ambani-owned Reliance 4IR Realty Development, has joined hands with US President Donald Trump’s real estate firm, the Trump Organization, reportedly to license the Trump name in Mumbai, India’s financial capital.
The Ambani-controlled firm has made a payment of a $10 million “development fee” to the Trump Organization, Donald Trump’s real estate business, according to a report by The Wall Street Journal, citing the US president’s annual financial disclosure filed recently.
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The report noted that the investors are planning Trump-branded projects in Vietnam, Dubai and Saudi Arabia among other places. The total amount the investors have paid to the Trump Organization is a whopping $44.6 million as foreign licensing and development fees in 2024, according to the disclosure.
In 2023, the Trump Organization received more than $8.2 million from investors, while the US-based firm had gained $9.4 million in 2022. Major payments consist of $5.2 million from Dubai’s Damac Properties and $5 million from Vietnam’s Hung Yen Hospitality.
Reliance owner Ambani, the richest Indian business executive, has joined the line of foreign developers investing money into Trump’s real estate firm. It is not clear as of now that Reliance paid the development fee to the Trump Organization for which specific project in Mumbai. With the real estate foray, Trump’s deal will be earning him billions without investing in India.
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Notably, the Indian billionaire in January attended Trump’s inauguration as the US president for the second term. He was also among the guests invited to the state dinner held in May in Doha hosted by the Qatar Emir for the US President. The report noted that when contacted, the Reliance representative did not respond for comment about the business deal.
The previous US administrations had sought to keep the presidency separate from potential conflicts of interest. However, despite being in office as the incumbent president, the Trump Organization has seen an increase in foreign deals. During his first term, the Trump Organization pledged a halt to foreign dealmaking while Trump was in office, a move that put a stop to any new real estate projects from the company.
