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Key Takeaways
- SoftBank CEO Masayoshi Son announced a new round of investments into U.S. projects with President-elect Donald Trump on Monday.
- The CEO said he plans to invest $100 billion in the U.S. by the end of Trump’s upcoming term.
- At the start of Trump’s last term, Son promised to invest $50 billion in the U.S., though some investments failed to deliver returns, such as WeWork.
SoftBank CEO Masayoshi Son announced plans to invest $100 billion into U.S. companies during President-elect Donald Trump’s upcoming term during an event at Mar-a-Lago on Monday.
Son predicted the investment would create roughly 100,000 jobs over the next four years, with a focus on artificial intelligence (AI). The event came soon after CNBC and The Wall Street Journal reported that an announcement was imminent.
CNBC reported that the money could come from various sources, including the Japanese conglomerate itself, the Vision Fund, or chipmaker Arm Holdings (ARM), of which SoftBank is the majority owner.
The exact details of the investment will be determined over the course of Trump’s term, though Son’s previous promise to invest $50 billion and create 50,000 jobs during Trump’s prior term could serve as a template.
A December 2019 analysis from Forbes found that at the time, SoftBank had invested roughly $47 billion in a wide range of startups like Slack—subsequently acquired by Salesforce (CRM)—and DoorDash (DASH). However, some of the investments were less successful, like its $18.5 billion funding of WeWork.
Source: https://magnacumlaude.store
Category: News