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Trump Announces $50B Investment by SoftBank

President-elect Donald Trump announced on Tuesday that Japanese tech company SoftBank will invest $50 billion in the U.S. and introduce 50,000 new jobs.

The Hill reports:

SoftBank was already planning a $100 billion tech investment fund.

Trump also appeared with Masayoshi in the Trump Tower lobby after the meeting, announcing the deal and calling him “one of the great men of industry.”

Ahead of the meeting, analyst Tomoaki Kawasaki told Bloomberg that he expected the possible Sprint and T-Mobile merger to come up. SoftBank owns 80 percent of Sprint.

“There is a chance that the incoming administration will have a different approach to telecom regulations, Kawasaki said. “Son has said before that Sprint needs T-Mobile to compete with the top-two operators in the U.S. market.”

Sprint shares jumped up by 2 percent on the day after the announcement.

Photo credit: YouTube / Screenshot.

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