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This development comes just after a recent string of meetings between US President Donald Trump and Mukesh Ambani, first during the President's inauguration in Washington, D.C., in January, and then at a state dinner in Doha, in which the Qatari emir hosted the US President.
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Riddhima Kanetkar, Riddhima Kanetkar
Updated : Jun 19, 2025, 09:22 AM IST | Edited by : Riddhima Kanetkar
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Mukesh Ambani, one of the world's richest men and the Chairman and Managing Director of Reliance Industries, is yet again in the news, this time for his tie-up with US President Donald Trump's real estate firm. Reliance 4IR Realty Development, a unit of a company run by Mukesh Ambani, has paid a $10 million 9over Rs 86 crore) "development fee" to the US President Donald Trump-owned real estate firm, Trump Organisation, for licensing the Trump name in Mumbai. As per a report in the Wall Street Journal, with this fee, Mukesh Ambani has joined many other foreign developers who are investing in President Trump’s real estate firm.
US President Donald Trump's partnership with Mukesh Ambani, India's richest man
As per the annual financial disclosure report of the US President, investors preparing for projects with the Trump brand in Vietnam, Dubai, Saudi Arabia, and others paid the Trump Organisation $44.6 million in foreign licensing and development fees in 2024. This amount is more than the $8.2 million received in 2023 and the $9.4 million received in 2022.
The Wall Street Journal report mentioned the $10 million fee paid by Mukesh Ambani's company to the Trump Organisation; however, it isn't clear which specific project in Mumbai Reliance pays for.
Donald Trump and Mukesh Ambani's meetings this year
This development comes just after a recent string of meetings between US President Donald Trump and Mukesh Ambani, first during the President's inauguration in Washington, D.C., in January, and then at a state dinner in Doha, in which the Qatari emir hosted the US President. Donald Trump’s family, while he is in office, is trying to expand plans across the US President’s businesses.
As for the latest development, representatives of Reliance have yet to respond to requests for comment.
