Hussain is the CEO, president and founder of the DAMAC group which is a catering company based in the United Arab Emirates. He started the company more than 25 years ago and has managed to expand its influence into the other countries in the Middle East, Africa and the CIS states. Hussain is the principal shareholder in the company with over 85 percent of the shares. This places his networth at around $3.5 million. The company was 100 percent his up until 2013 when he made a decision to sell 15 percent as global depository receipts in the London Stock Exchange.
His journey towards success as a businessman started when he enrolled for an economics degree at the University of Washington. He graduated with honors and immediately joined GASCO, which is a subsidiary of ADNOC. The name DAMAC stands for Draieh Management Services,Co and is the name that he gave his company when he started it. This is not the only company that he started in the 90’s. Other companies that he started include DICO investment an Al Jazeira investment company. Al Jazeira has been valued at more than a hundred million dollars and in a bid to expand its influence, the company acquired Al Ahlia Insurance Company, a Bahrain based insurer. Other sectors where he has invested include ceramics as he owns one of the largest ceramics companies in the UAE.
These investments and more have made him a deeply respected member of the society. Besides being a smart entrepreneur, he is also a board member in various institutions, including the Majan University College in Oman. Another interesting thing about Hussain is the fact that the current US President, Donald Trump is one of his close friends and business associates. The two have been doing business together for the longest time and are fond of their business dealings with each other.
Hussain is also a philanthropist and a family man. When he is not spending time in his businesses, he is always at home with his family. His charisma, business sense and influence on the younger generation are the qualities that make him outstanding.
Top 10 Richest Men from UAE
Hussein Sajwani is a billionaire developer who lives in Dubai. As a titan in the field of real estate he has hopes of furthering his business relationship with the real estate firm owned by Donald Trump. Trump and Sajwani have worked together before and made billions in sales together. One of their projects was the building of luxury villas on the International Golf Club owned by Trump.
There have been concerns voiced as to a possible conflict of interest. For this reason Trump has stated he will not be starting any new deals in business while he is in office. Sajwani made a statement to NBC News that his connection to the Trump family is more than just business. His relationship with Trump also involves his children Eric, Ivanka and Donald Jr. Sajwani believes there will not be any problem or conflict arising from the continued growth, expansion and maintenance of his business relationship with Trump.
The wives of Trump and Sajwani also enjoy a friendship. They email one another and often have lunch or dinner together. They have both enjoyed the hospitality at each others homes as well. Sajwani says they enjoy working together and it is so much more than just cold business. Eric, Ivanka and Donald Jr. have all been involved with the brand to some extent. They have dealt with wealthy foreigners with links to politicians who wield power. Politicians from Turkey, Canada, Central Asia and South America. Even Ivanka has had social media posts about business meetings since 2010. The posts concerned meetings in 13 different countries.
Sajwani spoke of how Ivanka was pregnant and working until a few days before the delivery. He was in New York at the time and could not believe she talked business with him on the phone then went back to work shortly afterwards. He met with Trump before the election concerning the opening of his new hotel in Washington. He was under the impression that if Trump won the election his business dealings would be taken over by the next generation.
About Mike Baur
Mike Baur, is a serial entrepreneur born in Fribourg, Switzerland. Mike’s interest in working in the banking and finance sector surfaced in his early teenage. As a passionate entrepreneur, Mike gives back to society by offering financial and mentoring support to the Swiss startups. Today, he takes pride in making his youthful passion as his career. Mike Baur has an extensive background in the banking sector, having worked in the Swiss Private Banking for over two decades. Later on, he was promoted from a commercial apprentice at UBS to a Board Member in the Swiss Banking Industry.
Leveraging his immense knowledge and experience in finance and banking, Mike teamed up with his two business partners to start Swiss Startup Factory (SSF). Swiss Startup Factory is the Swiss’ leading sovereign and privately-funded Information and Communication Technology startup accelerator. Through SSF, Mike Baur invests valuable time and resources in the Swiss startup programs. He also provides financial and mentoring support to various Swiss startups. He graduated from Rochester University with a master degree in Business Administration as well as an Executive MBA from Bern University.
As a long-term strategy to strengthen the Swiss startup ecosystem, Swiss Startup Factory has announced its partnership with Geneva-based Fintech Fusion startup accelerator. Both SSF and Fintech Fusion will collaborate on joint events, startup pre-selection process, sharing office space for startups, and startup acceleration. The partnership is expected to bridge the gap between the French and Swiss German based in Switzerland. Interestingly, SSF and Fintech Fusion have shared core values and complements each other on their setup. The accelerators will support startups from the inception stage to prototyping to ensure they transit smoothly to market entry and beta testing. Although the core value of the partnership is Fintech Fusion, other ICT subjects will be considered.
Fintech Fusions’ founder, Guillaume Dubray says that Switzerland as a leader in innovation has excellent conditions for startups to thrive. At Switzerland, startups have an extended choice of development programs such as training platforms and Startup Hubs. With the new partnership, SSF will now focus on strengthening the collaboration between innovation-driven businesses in Switzerland. In addition to Mr. Dubray’s comments, Baur said that SSF collaboration with Geneva-based Fintech Fusion would transcend language and diversity barriers in Switzerland by bringing together two independent accelerators from different locations and linguistic. He added that Switzerland often lacked adequate efforts to concentrate its strengths and resources due to language and diversity barriers.