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Trump: SoftBank to invest $50 billion in US

Trump and Son confirmed the investment plans in a brief address to reporters gathered in the lobby of Trump Tower.

Published: 07th December 2016 02:19 AM  |   Last Updated: 07th December 2016 02:19 AM   |  A+A-

Trump_AP

Donald Trump. (File Photo | AP)

By AFP

WASHINGTON: President-elect Donald Trump said Tuesday that Japan's SoftBank has agreed to invest $50 billion in businesses and job-creation in the United States.

Trump made the announcement on Twitter after meeting at Trump Tower with SoftBank CEO Masayoshi Son. Trump provided no details on the precise nature of the investments, or their timing. 

"Masa (SoftBank) of Japan has agreed to invest $50 billion in the U.S. toward businesses and 50,000 new jobs," Trump wrote.

He added: "Masa said he would never do this had we (Trump) not won the election!"

Moments later, Trump and Son confirmed the investment plans in a brief address to reporters gathered in the lobby of Trump Tower.

In announcing the plans, Son brandished a document featuring the names of SoftBank and of Foxconn, the Taiwanese technology giant, that read: "Commit to invest $50bn + $7bn in US, generate 50k + 50k new jobs in US in next four years."

Son said his company planned to create jobs by investing in start-up companies in the United States.

"I just came to celebrate his new job," Son said of the president-elect.

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