Dubai billionaire with Trump ties buys superyacht Amadea $187m

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Dubai billionaire with Trump ties buys superyacht Amadea for $187m

August 7, 2026

DUBAI,— A superyacht that once carried a price tag above $300 million has changed hands, with the U.S. government accepting $187 million from the son of a Dubai billionaire whose family holds business ties to the Trump Organization, according to CNBC, which cited records and industry contacts.

The 348-foot vessel, Amadea, was seized by federal agents in 2022 as part of a broader effort to punish Russian oligarchs after Moscow’s invasion of Ukraine.

Following years of litigation, a Justice Department order sent the yacht to auction in September.

The government did not publicly name the buyer or the sale price. A government document, however, put the figure at $187 million. Records point to Abbas Sajwani, 27, as the purchaser.

Hussain Sajwani, billionaire founder of Dubai-based DAMAC Properties (left), with Donald Trump and his daughter Ivanka Trump in 2015. Photo: X

He is the son of Hussain Sajwani, a well known figure in Dubai’s real estate industry. The elder Sajwani’s firm, DAMAC Properties, has a business partnership with the Trump Organization.

Hussain Sajwani stood beside President Donald Trump at Mar-a-Lago last year when one of his companies announced a $20 billion investment in U.S. data centers.

Trump described him at the event as one of the most respected business figures in the Middle East and worldwide.

Attempts to reach Hussain Sajwani, his son, and DAMAC for a response went unanswered. The Justice Department and the White House both declined to comment.

U.S. authorities seized Amadea off Fiji’s coast in 2022 under Task Force KleptoCapture, a Biden-era program targeting sanctioned Russians and their property.

Prosecutors said the yacht belonged to Suleiman Kerimov, a Russian mining magnate sanctioned since 2018.

After the seizure, the government installed a new crew and moved the yacht to San Diego, where it sat for three years while the ownership dispute played out in court.

Upkeep costs for the ship, covering everything from paying the crew to insurance and marina charges, ran the government $600,000 to $1 million each month, an expense that reached about $36 million by the time it was over.

A federal judge ordered the yacht forfeited, and it went to auction on Sept. 10, 2025, with bidding concluding about a month later. The U.S. Marshals Service, a Justice Department agency, ran the sealed-bid process and chose the winner.

Gadyaces Serralta, sworn in as the Marshals Service director on Aug. 1 after being appointed by Trump, led the agency during the sale.

The agency has not identified the winning bidder. A Marshals Service spokesperson said the agency does not routinely disclose buyer identities, citing federal privacy exemptions that apply unless a court orders disclosure.

Justice Department filings gave shifting estimates of Amadea’s worth over time. Early court papers put its value between $300 million and $500 million, later describing it simply as worth more than $300 million. A 2024 filing cited an independent appraisal of $230 million.

Records show that a month after the sale closed, Amadea was registered to Beyond Holding Group Ltd., a British Virgin Islands company listing a Dubai headquarters matching DAMAC’s address.

Officials have not said how proceeds from the sale will be used. A law signed in May 2024 lets the government seize Russian state assets in the U.S. and direct proceeds toward aiding Ukraine.

Built in 2017 by German shipbuilder Lurssen, Amadea spans six decks and can host 16 guests with 36 crew members.

Its amenities include a glass enclosed winter garden, an infinity pool with swim up bar, a theater with motion seats, a party deck with built in lighting and lasers, a spa with a hammam and sauna, and a lobster tank in the kitchen.

Abbas Sajwani showed Forbes around the yacht in June while it was docked near Monaco. He said he turned down a rival offer worth far more, in the hundreds of millions of dollars, calling Amadea’s interior and style beautiful.

A hallmark of the vessel, a bow mounted albatross carving made of stainless steel and weighing five tons, has not been altered.. Sajwani replaced the bow’s helipad with a pickleball court after buying the vessel.

Forbes did not report a sale price but said Sajwani’s winning bid beat the runner up by just $1 million, without explaining how he learned competing bid amounts.

Global demand for premium megayachts has climbed since the pandemic, driven by a billionaire population that now exceeds 3,500 and shipyards with lengthy waitlists.

Fraser Yachts reported that sales of used yachts 30 meters or longer jumped 36% in 2025, reaching $6.44 billion.

Tracking data from VesselFinder, shared with CNBC, shows Amadea traveled to Fort Lauderdale, Florida, and Charleston, South Carolina, after the sale. Industry sources said the stops were for minor repair work and upgrades.

Sajwani told Forbes he manages his real estate business from the yacht when away from Dubai, describing it less as a vacation getaway and more as a place he actually lives.

His firm, AHS Properties, purchased Dubai’s Shangri-La Hotel for a reported $300 million and is building luxury developments along the Dubai Water Canal.

Forbes estimates his net worth at $1.9 billion. He told the magazine that despite a slowdown tied to the Iran conflict, Dubai’s property market remains healthy with strong demand.

Hussain Sajwani, often called the “Donald of Dubai” for his flashy developments, formed a partnership with the Trump Organization in 2013 to build the first Trump branded golf course in the Middle East, which opened in 2017.

The New York Times has reported DAMAC paid the Trump Organization millions before construction and continues paying management fees.

A second Trump golf course planned with DAMAC has been delayed. In April 2025, Hussain Sajwani posted photos from a White House breakfast where he met Elon Musk.

(With files from CNBC)