Trump announces $50B investment by SoftBank

by Ali Breland - 12/06/16 2:37 PM ET

Donald Trump claims head of Japan's SoftBank Group agrees to invest $50 billion in US https://t.co/K8x0fgDk6p https://t.co/4EhEyuhU3R

— ABC News Politics (@ABCPolitics) December 6, 2016

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

Trump announced the deal after meeting with SoftBank founder and CEO Masayoshi Son at Trump Tower in New York.

“Masa (SoftBank) of Japan has agreed to invest $50 billion in the U.S. toward businesses and 50,000 new jobs,” Trump tweeted. “Masa said he would never do this had we (Trump) not won the election!”

Masa (SoftBank) of Japan has agreed to invest $50 billion in the U.S. toward businesses and 50,000 new jobs….

— Donald J. Trump (@realDonaldTrump) December 6, 2016

Masa said he would never do this had we (Trump) not won the election!

— Donald J. Trump (@realDonaldTrump) December 6, 2016

{mosads}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.

Tags Donald Trump