A $100 billion investment plus the promise of 100,000 new jobs equals a big announcement from President-elect Donald Trump and Softbank CEO Masayoshi Son.
The pair made the announcement Monday after meeting at Mar-a-Lago, per Fox Business.
Trump said the Japanese company’s investment was “a monumental demonstration of confidence in America’s future.”
“Masa runs one of the largest companies in Japan and among the most successful investment and technology companies anywhere in the world, one of the most successful investors in the world. And we’ve just concluded a very productive meeting,” Trump said. “And today, I’m thrilled to announce that SoftBank will be investing $100 billion in America, creating 100,000 American jobs at a minimum. And he’s doing this because he feels very optimistic about our country since the election.
“This historic investment is a monumental demonstration of confidence in America’s future. And it will help ensure that artificial intelligence, emerging technologies and other industries of tomorrow are built, created and grown right here in the USA,” Trump said.
Son himself said he is “very excited” about the investment.
“I would really like to celebrate the great victory of President Trump, and my confidence level to the economy of the United States has tremendously increased with his victory,” he said. “So because of that, I’m now excited to commit this $100 billion and 100,000 jobs into the United States.”
Karoline Leavitt, the incoming White House press secretary, said earlier this is an example of the Trump effect.”
“This is President Trump delivering on the promise he made to the American people on the campaign trail that he was going to make the United States of America the manufacturing superpower of the world,” Leavitt said.
A person involved with the Monday’s announcement told The Wall Street Journal SoftBank plans to finish up the investments before Trump leaves office in 2029.
The WSJ reported SoftBank has about $30 billion of cash in hand. It is not immediately clear how this commitment will be met.
In the end, Trump added, “We will not rest until America is richer, safter, and stronger than it has ever been before,” per Fox Business.
