SoftBank to inject $100 billion into the United States under Trump

Top line

SoftBank Group announced a multibillion-dollar investment in U.S. projects during President-elect Donald Trump's second term, likely in AI jobs, doubling down on a similar promise SoftBank CEO made during Trump's first term that gave mixed results.

Donald Trump, left, and Masayoshi Son in 2018.

Getty Images Key Facts

Billionaire SoftBanks CEO Masayoshi Son and Trump jointly announced the initiative Monday at Trump's Mar-a-Lago resort, consistent with previous media reports.

Tokyo-based SoftBank will commit $100 billion to U.S. companies over the next four years, double a similar commitment announced in December 2016 in the run-up to Trump's first presidential term.

President Trump is a president who doubles down, I'm going to have to double down, Son said at the joint press conference.

The next investment aims to create around 100,000 jobs in AI and related industries supporting this booming technology, according to Son.

In 2019, Forbes found that Son's $50 billion pledge had been largely fulfilled, although the jobs promise was difficult to follow and questionable after the near-collapse of SoftBank-funded WeWork.

Crucial quote

He's a great negotiator, Son joked about Trump after the American asked him to double his pledge to $200 billion.

What we don't know

This is exactly what SoftBank's massive investment will entail. SoftBank, which is perhaps best known for its venture capital arm Vision Fund, is a major player in AI, with a majority stake in generative AI chip architect Arm Holdings and a 1,000 stake. 5 billion dollars in OpenAI, maker of the viral chatbot ChatGPT. SoftBank has $30 billion in liquidity, the Journal noted, meaning it's also unclear how the Japanese company will raise its entire commitment.

Forbes Rating

Son is the second richest person in Japan and the 56th richest person in the world with a fortune of $32 billion, according to our estimates.

Key context

On Monday, Trump described Son as one of the most accomplished business leaders of our time. Son, who estimates that AI will be 10,000 times smarter than humans by 2035, is part of a growing chorus of ultra-rich apparently optimistic about the prospects for American manufacturing under Trump. In addition to significant support from the world's richest man, Elon Musk, for Trump, tech titans like Amazon's Jeff Bezos, Metas Mark Zuckerberg and OpenAI's Sam Altman have all expressed optimism about the prospects of the US tech industry during Trump's next term and have donated millions to his inauguration.

Further readingMasayoshi's son from ForbesSoftBank promised Trump to invest $50 billion and create 50,000 jobs in the United States. Did he keep his promises? By Biz Carson ForbesSam Altman, Tech's Latest Billionaire, to Donate $1 Million to Trump's Inaugural FundJoining Bezos and ZuckerbergBy Molly Bohannon

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