He was convicted and sentenced to five years in prison on corruption-related charges in Egypt in 2011 over a real estate deal. He then founded Damac in 2002, jumping into Dubai's booming real estate market. Lodha, 61, is widely admired for building the Lodha Group, one of Mumbai's most successful real estate development companies, from scratch. Lodha and his two sons are often compared to the Trump family, with one newspaper calling Lodha "Donald Trump - minus the flash." The Trump Hotel Rio de Janeiro was announced in January 2014 in New York and opened partially last July.

Source: New Zealand Herald January 14, 2017 07:11 UTC