SoftBank’s big spend in US makes Trump happy: $50 billion, 50,000 new jobs

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After a meeting with President-Elect Donald Trump at his namesake tower in New York, Masayoshi Son announced that the company he leads, Japan-based SoftBank, will invest $50 billion into the US economy and put in 50,000 jobs.

The CEO plans to infuse money from the SoftBank Vision Fund — a reserve co-opted between Son, the Saudi Arabian government and other partners — into startups. A source to the Wall Street Journal said that acquisitions valued at up to $30 billion may also be in the works.

The fund is also being put to use in large-scale tech projects in South Korea and India. Son has visited with both countries’ leaders to discuss his plans.

SoftBank acquired Sprint in 2013 and currently has an 80 percent stake in the Kansas-based carrier. Son was intent on merging Sprint with T-Mobile, but failed to do so. With a new president coming into power and shifts in administration, the executive may be playing to see if a regulation-light FCC may allow another merger attempt.

Trump was, of course, very excited about the investment and tweeted that “Masa” would have never had made the investment if it weren’t for his election.

Masa (SoftBank) of Japan has agreed to invest $50 billion in the U.S. toward businesses and 50,000 new jobs….

— Donald J. Trump (@realDonaldTrump) December 6, 2016

Masa said he would never do this had we (Trump) not won the election!

— Donald J. Trump (@realDonaldTrump) December 6, 2016

The post SoftBank’s big spend in US makes Trump happy: $50 billion, 50,000 new jobs appeared first on Pocketnow.

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