SoftBank CEO Masayoshi Son told the newly elected US President, Donald trump that he would create 50,000 jobs in USA through a $50 Billion investment in startups and new businesses. SoftBank is in the biggie investment firm league that has $100 Billion investment fund. The committed $50 Billion will be used from this fund.
Son made his fortune from investments in China, and Japan. In the US he has a controlling stake in Telecom company Sprint. But Sprint is facing tough competition from T Mobile. Son wants to merge with T Mobile to become a market leader, but thanks to Obama administration this dream could not become a reality. With the new president being elected, Son wants to be in good books so that he can have regulators on his side for future merger and acquisitions.
This move is a win win scenario for both. People of America would love 50,000 new jobs and they will be happy with the newly elected president, on the other hand Son will get into the good books of the president. Son has various technology and wireless investments around to the world. In India SoftBank invested in Ola and other startups. Read more news related to Startups.