Trump is to announce $100B SoftBank investment in the US
PALM BEACH, Fla. — president-elect Donald Trump will join the CEO of SoftBank Group Masayoshi son Monday at his home in Florida to announce that the company plans to invest $100 billion in U.S. projects over the next four years.
That’s according to a person familiar with the plans who spoke on condition of anonymity before the planned announcement. Trump will speak at his Mar-a-Lago resort at 11 a.m., marking the first time he will address reporters since winning the election last month.
Trump has announced deals with much fanfare in the past, but they have sometimes failed to deliver on promised investments.
But the announcement is nonetheless a victory for Trump, who has used the weeks since winning the election to promote his policies, negotiate with foreign leaders and make deals.
Before he even took office, he threatened to impose high tariffs on Mexico and Canada, prompting a visit from the Canadian prime minister and a phone call with the Mexican president.
In a post on his Truth Social site Tuesday, Trump said that anyone making a $1 billion investment in the United States “will receive fully expedited approvals and permits, including, but in no way limited to, all environmental approvals.”
“Get ready to rock!!!” he added.
Japanese technology group SoftBank invests in a variety of companies that it groups into a series of Vision Funds.
The company’s investment portfolio includes search engine Yahoo, Chinese retailer Alibaba and an artificial intelligence company Nvidia. The announcement comes days after Trump vowed to expedite federal permits for energy projects and other construction worth more than $1 billion.
After Trump first won the White House in 2016, he met Son before taking office. Son then announced plans to create 50,000 jobs and invest $50 billion in US startups, which Trump celebrated on social media, saying this would never have happened if he had not won the election.
Monday’s announcement was first reported by The Wall Street Journal.
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Colvin reported from New York