U.S. president Donald Trump said on Thursday that SoftBank CEO Masayoshi Son is increasing his investment in the United States to $72 billion, significantly more than the $50 billion he had previously pledged.
In 2016, Son pledged to invest $50 billion and create 50,000 jobs in the United States after meeting then president-elect Trump.
SoftBank Group and its Vision Fund, the world’s largest private equity fund which in May last year raised over $93 billion, has made many of its investments in U.S. technology firms including ride-hailing firm Uber and share-office space firm WeWork.
“His $50 billion turned out to be $72 billion so far, he’s not finished yet,” Trump said, without providing details.
Trump’s comments came at a ceremony in Wisconsin for a manufacturing facility for Foxconn, the world’s largest electronics contract manufacturer, attended by Son and Foxconn Chairman Terry Gou.
Son made remarks at the event but did not reference the $72 billion figure.
“I couldn’t have decided such a thing before this new President,” Son said of that decision on Thursday.
