According to the Wall Street Journal, President-elect Donald Trump isn't even in office yet, and he's already bringing jobs to the U.S.
Masayoshi 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 announcement was made in the lobby of Trump Tower, with Trump claiming credit, saying that his win in November against failed Democratic candidate Hillary Clinton was what brought Son to the table.
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.
America is not the only country Son is interested in, however. He has a tendency to go straight to world leaders when attempting to make investments deals. The 59-year-old mogul has also invested in countries such as South Korea and India with billions of dollars.
Son's interests lie in future technologies according to WSJ.
With the new $100 billion fund—dubbed the SoftBank Vision Fund—Mr. Son plans to spend heavily in fields including the so-called Internet of Things, artificial intelligence, deep learning and robotics. He has said he wants to become the Warren Buffett of the tech industry.
Perhaps with a more business friendly environment created by the rise of a pro-business President, we'll see more deals like this being made in the future.