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Softbank to Invest $50 Billion in the US

posted by on Wednesday December 07 2016, @03:53PM   Printer-friendly
from the what-are-they-buying-for-that-sum? dept.

An Anonymous Coward writes:

SoftBank Group Corp. Chief Executive Officer Masayoshi Son told President-elect Donald Trump he would create 50,000 new jobs in the U.S. through a $50 billion investment in startups and new companies.

The money will come from SoftBank's previously announced $100 billion technology fund, according to a person familiar with the matter. That investment vehicle has a $45 billion commitment from the government of Saudi Arabia and $25 billion from Tokyo-based SoftBank, which operates technology and wireless companies around the world.

[...] Some investments from SoftBank's fund, which was unveiled in October, were probably destined for the U.S. anyway, given the nation's leadership in the global technology industry. But Son hadn't previously committed to creating a specific amount of jobs through the investment vehicle.

More coverage from Washington Post and Reuters.

Original Submission

 
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  • (Score: 5, Informative) by RamiK on Wednesday December 07 2016, @05:12PM

    by RamiK (1813) on Wednesday December 07 2016, @05:12PM (#438420)

    The Reuters article mentions it, but it's worth emphasizing SoftBank recently bought ARM just after Brexit for $30 billion.

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