At the Mar-a-Lago resort in Florida (USA) on December 16, President-elect Donald Trump announced that the US would receive a $100 billion investment from SoftBank over the next 4 years, helping to create at least 100,000 jobs. , according to Reuters.
President-elect Donald Trump announced an investment commitment from SoftBank at Mar-a-Lago on December 16. Billionaire Masayoshi Son (right) and nominated Secretary of Commerce Howard Lutnick were present at the event
Japanese billionaire Masayoshi Son, CEO of SoftBank, and Cantor Fitzgerald Bank Chairman Howard Lutnick stood next to Mr. Trump while the leader announced the new investment. Mr. Lutnick has been nominated by Mr. Trump to be Secretary of Commerce in the upcoming administration.
Mr. Trump praised Mr. Son as “one of the most successful business leaders of our time” and said the investment was proof of confidence in America’s future.
Speaking at the event, Mr. Son confirmed the investment and said Mr. Trump’s victory had helped increase his confidence in the US economy.
In December 2016, after Mr. Trump was elected for his first term, Mr. Son also pledged to invest 50 billion USD and create 50,000 jobs. According to CNN, through its Vision Fund, SoftBank has invested about 75 billion USD but the number of jobs created is not accurately counted due to the impact of the Covid-19 pandemic.
This year’s investment will focus specifically on artificial intelligence (AI) and related infrastructure, including energy, data centers, and chips.
It is currently unclear from what source SoftBank will finance the new project. According to Reuters, as of September 30, SoftBank had about $29 billion in cash and equivalent assets.
Mr. Trump announced large investments at the beginning of his term, but not all of them were implemented. In 2017, he announced an investment agreement for Foxconn’s $10 billion electronics factory in Wisconsin, expected to create 13,000 jobs. However, the company later abandoned most of its plans to build a factory and the products it planned to produce. By 2021, Foxconn announced it would invest $672 million in an adjustment agreement, creating about 1,500 jobs.
