Mukesh Ambani's Reliance Ties Up With US President Donald Trump's Trump Organisation: Report
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Mukesh Ambani's Reliance Ties Up With US President Donald Trump's Trump Organisation: Report
The Wire Staff
6 minutes ago
In January this year, Ambani had attended Trump's inauguration in the US and was also a guest in the state dinner held last month in Doha, that was hosted by the Qatar Emir for the US President.
US President Donald Trump meets Reliance Industries Chairman Mukesh Ambani as Emir of Qatar Sheikh Tamim bin Hamad Al Thani looks on, in Doha, Qatar, on Wednesday, May 14, 2025. Photo: PTI
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New Delhi: Reliance 4IR Realty Development, a unit of a company controlled by multibillionaire Mukesh Ambani has paid a $10 million 'development fee' to the Trump Organisation, the real-estate firm owned by US President Donald Trump, for licensing the Trump name in Mumbai.
With the payment, Ambani, India's richest man has joined the ranks of foreign developers pouring money into Trump's real-estate firm, reported The Wall Street Journal.
According to the president's annual financial disclosure report, investors planning Trump-branded projects in Vietnam, Dubai and Saudi Arabia and elsewhere paid the Trump Organisation $44.6 million in foreign licensing and development fees in 2024.
The amount received from the investors is more than the $8.2 million received in 2023 and $9.4 million received in 2022 by the Trump Organisation.
At the moment it's not yet clear that Reliance paid the development fee to the Trump Organization for which specific project in Mumbai, said the WSJ report.
In January this year, Ambani had attended Trump's inauguration in the US and was also a guest in the state dinner held last month in Doha, that was hosted by the Qatar Emir for the US President.
While previous administrations sought to keep the presidency separate from potential conflicts of interest, the Trump Organisation has seen an increase of such foreign deals, which reflects the Trump family's strategy of going ahead with expansion plans, while Trump is in office as the incumbent US President.
In the first term, the Trump Organisation had 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.
Donald Trump Jr, a company executive who oversees the president's assets with his brother, Eric Trump, said at a Qatar-based conference in May that recusal from deals didn't stop criticism, so this time the family has lowered the self-imposed guardrails – vowing only to avoid direct deals with foreign governments.
'We said we're going to play by the rules, but we're not going to go so far as to stymie our business forever,' Donald Trump Jr. said, reported WSJ.
Representatives of Reliance didn't respond to requests for comment, the WSJ report noted.
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