Softbank eyes $100 billion investment in US projects over next 4 years

Palm Beach, US: President-elect Donald Trump joined SoftBank Group CEO Masayoshi Son to announce plans by the Japanese company to invest $100 billion in US projects over the next four years.

Trump announced the planned investment Monday at his Mar-a-Lago resort with Son at his side, along with Howard Lutnick, head of investment bank Cantor Fitzgerald and Trump's pick for commerce secretary.

"He's doing this because he feels very optimistic about our country," Trump said. The president-elect said that since his election, people have expressed interest in "coming in with tremendous amounts of money." The investments by Softbank, he said, are "a monumental demonstration of confidence in America's future."


Son said he wanted to "celebrate the great victory of President Trump" and that he will "bring the world into peace again." "I am truly excited to make this happen," he said.

After the president-elect noted the $100 billion was double an investment pledge Son made in 2016 on the eve of Trump's first administration, the technology mogul said he was doubling down. Trump, appearing to joke, asked him at the microphone if he would double the investment again: "Would you make it $200 billion?"

Trump has in the past announced deals with companies overseas with much fanfare, though some companies in the end failed to deliver on those promised investments. Monday's announcement is a win for Trump, who has used the weeks since the election to promote his policies.