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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.
(Score: 0) by Anonymous Coward on Thursday December 08 2016, @02:55AM
Yes. And the stated reason is that the USA is the safe haven for investors, most stable place going... So after someone makes some money in a poor third-world country, then they invest it in USA real estate or stock market.
Back to the Reagan years, that was when I drove cross country with a friend who was moving west and we stopped at the Grand Canyon. Got there after dark and the full moon was beautiful. Slept in his truck, woke up the next morning in the park and saw that it was a real mess, filthy, just disgraceful. We had time to explore but were so grossed out that we just left. Does anyone else remember that "austerity measure"? Reagan cut the budgets for maintaining the national parks. Didn't make a dent in the national budget, but sure made me remember him as a jerk.