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Tuesday, December 6, 2016

Economic security

When Billionaires Meet: $50 Billion Pledge From SoftBank to Trump


SoftBank Pledges to Invest $50 Billion in U.S. After Meeting With TrumpMasayoshi Son, the brash billionaire who controls Sprint Corp., said Tuesday he would invest $50 billion in the U.S. and create 50,000 new jobs, following a 45-minute private meeting with President-electDonald Trump.
The telecom mogul, who made his fortune in Japan with SoftBank Group Corp., announced his investment plans in the lobby of Trump Tower, though he didn’t provide details. Mr. Trump took credit for the investment, saying his November victory spurred SoftBank’s decision.
Mr. Son told reporters he planned to “invest into the new startup companies in the United States.” It would be difficult to create 50,000 jobs entirely by investing in startups, which generally employ few workers. Sprint employs about 30,000 people and has cut jobs to combat losses.

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