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Trump says SoftBank Son's US investment has reached 72 billion dollars



MT. Pleasantly, Wisconsin – US President Donald Trump said Thursday SoftBank Group Corp. ( 9984.T ) Chief Executive Masayoshi Son increases his investment in the United States to $ 72 billion, well over the $ 50 billion, he had previously agreed.

U.S. President Donald Trump beckons with Foxconn Chairman Terry Gou (R) and Chairman and CEO of Softbank Masayoshi Son (C) in Mount Pleasant, Wisconsin, USA, June 28, 201
8 during a visit to Foxconn. REUTERS / Kevin Lamarque

"His $ 50 billion so far was $ 72 billion, it's not finished yet, "said Trump, without giving details.

Slideshow (4 images)

Trump's comments came at a groundbreaking ceremony in Wisconsin for a manufacturing facility for Foxconn, the world's largest electronics contract manufacturer, visited by Son and Foxconn Chairman Terry Gou.

Son made remarks at the event, but did not mention the $ 72 billion figure.

SoftBank could not be commented immediately.

In 2016, Son undertook to invest $ 50 billion and create 50,000 jobs in the United States after meeting President-Elect Trump.

"I could not have said anything like that in front of this new president," Son said on Thursday.

SoftBank Group and its Vision Fund, the world's largest private equity fund, which raised more than $ 93 billion in May last year, made numerous investments in US technology companies, including Uber Technologies Inc. and the stock offices We work.

Foxconn, who is an investor in the fund, is officially known as Hon Hai Precision Industry Co Ltd ( 2317. TW ).

Reporting by Jeff Mason; Writing by Sam Nussey; Cut by Stephen Coates and Muralikumar Anantharaman


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