Donald Trump to announce $100 billion SoftBank investment in the US

By: Shawn
President-elect Donald Trump will meet with SoftBank Group CEO Masayoshi Son at his Florida residence on Monday to announce that the Japanese corporation plans to spend $100 billion in US projects over the next four years.

Trump has previously launched accords with much hoopla, but they have not always delivered on promised investments.

President-elect Donald Trump.
Evan Vucci/AP

Foxconn Technology Group, a Taiwan-based corporation best known for producing Apple iPhones, earned Trump's plaudits in 2017 when it announced plans to build a $10 billion complex in Mount Pleasant, Wisconsin, employing 13,000 people. However, Foxconn's investment has been reduced to a fraction of that amount as the tech industry struggled following the COVID-19 outbreak, which briefly increased demand for work-from-home technologies.

However, Monday's news about the SoftBank technology company is a victory for Trump, who has spent the weeks since the election promoting his views, negotiating with foreign leaders, and striking agreements.

Karoline Leavitt, Trump's future White House press secretary, stated that Trump "is not even in the Oval Office yet and he's already delivering on his promises for the American worker."

He had previously threatened to impose heavy tariffs on Mexico and Canada, prompting a visit from Canada's prime minister and a phone chat with Mexico's president.

In a post on his Truth Social site Tuesday, Trump said that anybody investing $1 billion in the United States will obtain "fully expedited approvals and permits, including, but not limited to, all Environmental approvals."

"GET READY TO ROCK!!!" he continued.

SoftBank invests in a number of enterprises, which it bundles together under Vision Funds.

Yahoo, Chinese retailer Alibaba, and Nvidia, an artificial intelligence startup, are among the corporation's investments. Earlier this year, it formed a collaboration with Saudi Arabia to establish a robot factory in Riyadh.

Monday's announcement comes just days after Trump promised to accelerate government permits for energy projects and other development worth more than $1 billion.

After winning the White House for the first time in 2016, Trump visited with Son before to assuming office. Son then announced intentions to create 50,000 jobs and invest $50 billion in American firms, which Trump praised on social media, claiming it would never have occurred if he hadn't won the election.

Some of SoftBank's investments failed, including one in the office-sharing business WeWork.

The Wall Street Journal initially reported Monday's statement. FA

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