Wednesday Dec 01, 2021

Trump welcomes Son’s pledge to invest $50 bn in US

Japanese billionaire says move could
create up to 50,000 jobs in US, mostly in
IT start-ups
RINA TAKAHASHI, Nikkei staff writer
SoftBank’s Masayoshi Son, right, with
Donald Trump on Tuesday.
NEW YORK — SoftBank Group will invest
$50 billion in the U.S. and create 50,000
American jobs, Chairman and CEO
Masayoshi Son said Tuesday after a 45-
minute meeting with U.S. President-elect
Donald Trump.
SoftBank will invest in startups,
especially information technology
companies, Son told reporters in the
lobby of the Trump Tower in Manhattan,
voicing expectations that the U.S.
economy will grow and expand business
opportunities under the incoming
president. The Japanese telecom
company recently acquired British chip
designer ARM Holdings,
It was the first revelation of Trump’s
meeting with a Japanese executive since
his election victory.
Standing next to Son, Trump called the
Japanese tech billionaire “one of the
great men of industry.” The first-ever
meeting between Son and Trump was
arranged through a mutual friend.
SoftBank, which owns U.S. wireless
carrier Sprint, is ready to invest
aggressively in the U.S. again, Son said.
A document prepared by Son said the
company will invest $50 billion in the
U.S. in the coming four years and create
50,000 jobs.
The planned investment will come
through a fund SoftBank plans to
establish at a targeted amount of up to
$100 billion jointly with Saudi Arabia’s
sovereign wealth fund.
Son, who has a home in Silicon Valley, is
closely watching technological
innovations in the U.S. and has
established a system under which
American executives monitor U.S.
businesses fulltime to find investment
Son, who has not been shy about
investing in the future , expressed
expectations that the growth of the U.S.
economy “accelerate again” under
President Trump.
The U.S. is likely to become a country
with various business opportunities as
the Trump administration will carry out
deregulation in a variety of fields, he
Heartily welcoming Son’s decision,
Trump twittered, “Masa said he would
never do this had we (Trump) not won
the election,” boasting that his election
victory will lead to large corporate
investment and the creation of jobs.

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