After Meeting With Trump, Japanese Tech Billionaire Pledges to Bring $50 Billion, 50,000 Jobs to US

After meeting personally with President-elect Donald Trump, the CEO of Japanese telecommunications company SoftBank announced Tuesday that his company will bring a whopping $50 billion and 50,000 jobs to the United States.

NEW YORK, NY – DECEMBER 06: President-elect Donald Trump pauses with Masayoshi Son, the chief executive of SoftBank, at Trump Tower on December 6, 2016 in New York City. Trump announced that SoftBank has agreed to invest $50 billion in the United States and create 50,000 new jobs. Image Credit: Spencer Platt/Getty Images

Trump, as usual, celebrated the victory on Twitter.

SoftBank CEO Masayoshi Son said he met with Trump to “celebrate his new job” and then proclaimed that the U.S. “will become great again.”

The Wall Street Journal has more details on the investment plan:

Mr. Son told reporters he planned to “invest into the new startup companies in the United States.” It would be difficult to create 50,000 jobs entirely by investing in startups, which generally employ few workers. Sprint employs about 30,000 people and has cut jobs to combat losses.

In an interview, Mr. Son said the money will be coming from a $100 billion investment fund that he began setting up earlier this year with Saudi Arabia’s sovereign-wealth fund and other potential partners.

In addition to startups, Mr. Son also has his sights on acquisitions as large as $30 billion, a person familiar with his thinking said.

No specific details were released about what kinds of jobs would be created by the $50 billion investment.

INDIANAPOLIS, IN – DECEMBER 01: President-elect Donald Trump speaks to workers at Carrier air conditioning and heating on December 1, 2016 in Indianapolis, Indiana. Image Credit: Tasos Katopodis/Getty Images

The SoftBank agreement is the second jobs deal that Trump is touting as a major victory — and he’s not even in the White House yet.

Trump recently announced a deal with Carrier to keep save hundreds of jobs at a plant in Indiana from relocating to Mexico. There is some dispute over how many jobs were truly saved by Trump, who claimed credit for keeping roughly 1,000 jobs in the country. A union leader claims the real number is 730.

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