Trump Announces $50 Billion Investment From SoftBank, Claims Will Create 50,000 Jobs

Zach Montanaro | December 6, 2016
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President-elect Trump just announced a $50 billion investment by Japanese company SoftBank that he and the company’s founder and CEO Masayoshi Son claim will create 50,000 jobs in the U.S.

“Masa (SoftBank) of Japan has agreed to invest $50 billion in the U.S. toward businesses and 50,000 new jobs,” Trump tweeted out after their meeting. The two men then announced the deal to reporters in the lobby at Trump Tower, where Trump called Son “one of the great men of industry.”



“We were talking about it, and then I said I’d like to celebrate his presidential job,” Son said to reporters while taking a few questions, mentioning how he felt Trump would be an advocate of deregulation for businesses. “I said, ‘This is great, the U.S. will become great again.”

Although sparse on details, Son mentioned that the funding would go to “new companies, startup companies in the United States.”

SoftBank is the parent company of the wireless operator Sprint Corp. whose shares jumped 4 percent when the news broke.

This news comes on the heels of another high-profile deal that the president-elect made with Carrier, which pledged to keep around 1,000 jobs in the U.S in exchange for tax breaks from the state of Indiana. Carrier was originally planning to close its factory in Indianapolis and move all 1,400 of its jobs to Mexico. Trump and Vice President-elect Mike Pence, who is the current Governor of Indiana, were able to reach a deal to prevent the factory’s closing.

You can see the announcement Trump made with Son below:



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