President-elect Donald Trump and Softbank CEO Masayoshi Son announced on Monday a $100 billion investment in the United States, which is intended to create 100,000 new jobs. After meeting with Son at Mar-a-Lago, Trump called the investment “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.”
He added: “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 also said “we will not rest until America is richer, safer and stronger than it has ever been before.”
Son said that 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 added. “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 on FOX Business’ “Varney & Company” that the investment is “a huge win for Trump, and it’s another 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,” she noted further.
A source involved with the announcement at Mar-a-Lago told The Wall Street Journal that SoftBank plans to complete the investments before Trump leaves office in 2029. The newspaper reported that SoftBank currently holds around $30 billion in cash, raising questions about how the funding commitment will be fulfilled. The company previously launched the SoftBank Vision Fund, a $100 billion venture capital initiative, which has faced setbacks, including failures with office space company WeWork and construction startup Katerra, according to The Journal. Son was quoted in October as saying he believes computers will achieve human-level cognitive abilities within the next two to three years.