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Alongside Trump, SoftBank’s Son Announces Plan To Invest $100B In US Businesses

Dec 16, 2024 - news.crunchbase.com
In a joint appearance with President-Elect Donald Trump, SoftBank Group CEO Masayoshi Son announced plans to invest $100 billion in U.S. businesses, aiming to create at least 100,000 new jobs. This commitment echoes a previous 2016 deal where SoftBank pledged $50 billion for 50,000 jobs. The announcement was marked by mutual praise, with Trump highlighting the investment as a sign of confidence in America's future and Son expressing increased confidence in the U.S. economy following Trump's election win. The investment is intended to support the growth of artificial intelligence and other emerging industries in the U.S.

SoftBank's investment history includes both successes and failures, with notable investments in companies like Uber, Slack, and DoorDash, as well as less successful ventures like WeWork, Zume, and Katerra. The new commitment comes at a time when U.S. startup investment is recovering from a low, driven largely by interest in artificial intelligence. During the event, Trump encouraged Son to double his investment to $200 billion, a suggestion Son did not dismiss, stating he would "try to make it happen."

Key takeaways:

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  • SoftBank Group CEO Masayoshi Son announced a $100 billion investment in U.S. businesses, aiming to create at least 100,000 new jobs.
  • This investment is a scaled-up version of a previous $50 billion commitment made after Trump's first election victory in 2016.
  • SoftBank's investment history includes both successful ventures like Uber and Slack, and failures such as WeWork and Katerra.
  • Trump encouraged Son to double the investment to $200 billion, which Son did not commit to but expressed willingness to consider.
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