Masayoshi Son, SoftBank Group Corp. Chief Executive Officer, has given a boost to president-elect Donald trump's economic plans. He has advised Trump he will create at least 50,000 new jobs in the US, through a new $50 billion investment fund.
SoftBank will create jobs
SoftBank has announced previously that it has a $100 billion technology fund and the $50 billion will come from this and will be invested into startups and new companies. This fund is backed by a $45 billion investment from the Saudi Arabian government and $25 billion coming from SoftBank themselves.
SoftBank, a corporation based in Tokyo, Japan, is a technology firm that runs technology firms around the world and is known in the Britain as the company that Theresa May thought was a Japanese bank offering investment into a post Brexit Britain.
The company had issues with Obama, after a failed attempt for them to help consolidate the American mobile phone market. This move SoftBank then hopes will help to smooth the path for them with the new president-elect. As such the market verdict came through quickly with SoftBank shares rising by 5.1 percent as trading began Tokyo
Trumps Twitter politics
Trump after meeting with Son, took to Twitter, perhaps the new framework for announcing American policies given Trump's love of the format.
On Twitter, he tweeted, "Masa said he would never do this had we not won the election!”
This statement is, however, open to interpretation, as Son launched the new $100 billion fund for technology in October. As such given the American position in the global technology marketplace, it could be assumed that some of this money was already earmarked for American projects.
American markets have also shown delight in this news though. With the wireless provider Sprint, SoftBank's American wireless company, rising 1.5 percent and the company that is seen as wanting to merge with Sprint, T-Mobile US Inc, rising 1.8 percent.
Son can be seen as a visionary leader for his company, given the fact he has laid out a 300-year business plan and has also laid out a role for his, as yet, unborn successor.
