Trump, SoftBank CEO to announce $100 billion investment in US
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Subscribe to enjoy similar stories. PALM BEACH, Fla.—Donald Trump and SoftBank Group CEO Masayoshi Son are set to jointly announce on Monday that the company is planning to invest $100 billion in U.S. projects over the next four years, according to a person involved in the event, as the president-elect seeks to project enthusiasm over his return to power.
The Japanese internet and telecommunications giant estimates that its U.S.-based investments will create 100,000 jobs focused on artificial intelligence and emerging technologies, and it plans to complete the work before Trump leaves office in 2029, the person said. Trump and Son are scheduled to appear together at Mar-a-Lago, Trump’s private Florida club. A SoftBank spokesman declined to comment.
It is unclear how SoftBank intends to fund the commitment. The global tech investor has roughly $30 billion of cash on hand. The commitment is a boon for the incoming Republican president, who made rejuvenating the economy a centerpiece of his presidential campaign and has said he is prepared to move swiftly on his agenda upon taking office next month.
Last week, Trump said that any company that invests $1 billion or more in the U.S. would receive fast-track permitting. The $100 billion is double what Son vowed to invest in startups following a meeting with Trump in December 2016, just after Trump’s first successful White House bid.
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