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

Joint appearance with president-elect on Monday Donald Trump, SoftBank Group CEO Masayoshi Son Announced plans to invest $100 billion in American businesses and create at least 100,000 new domestic jobs.

The brief news conference was dominated by mutual praise but relatively few details about the investment.

Trump first praised Son as “one of the most successful investors in the world” and described the commitment as “a huge demonstration of confidence in the future of the United States.” He said this investment will help ensure that artificial intelligence and other “future industries” are established and developed in the United States.

Son responded that he was celebrating Trump’s election victory and that “his confidence in the U.S. economy has greatly increased due to his victory.”

He added that his hope is that “President Trump will bring peace to the world again.”

SoftBank’s promise is repeat performance — albeit at twice the size — 2016 Transactions Son made the remarks after meeting with Trump after his first election victory. At that time, SoftBank agreed to invest $50 billion in the United States, aiming to create 50,000 jobs.

SoftBank began significantly expanding its investment activities in new ventures in 2017 and achieved breakthrough progress SoftBank Vision Fund. The fund aims to invest $100 million in new startups around the world. A few years later, SoftBank followed suit Vision Fund Phase II.

Results are mixed

As we’ve previously documented, SoftBank’s investments include hits and missesincluding many iconic names. It has led the financing of many new startups that are playing a transformative role in their respective industries, including Uber, relaxation and door panel. However, SoftBank has also poured money into much-hyped companies that have since shut down or filed for bankruptcy, including we work, juice and Catela.

This time, Son made a commitment over a period of time U.S. startup investment remains well below 2021 peak. However, funding is off its lows, thanks in large part to investors embracing artificial intelligence startups.

Trump ended their joint appearance by urging Son to double his planned investments to $200 billion. Son did not commit to doing so, but did not rule it out and said he would “work hard to achieve it.”

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Illustration: Leanne Dias