SoftBank CEO Cozies Up to Trump

By Paula Bernier December 07, 2016

President-elect Donald Trump and SoftBank Group CEO Masayoshi Son have a lot in common. They both built their own empires. They both have big personalities. And both men are now talking about investing in and creating jobs in the U.S.

In fact, just recently the billionaire founder of SoftBank met with Trump and expressed his interest in creating 50,000 new U.S. jobs by investing $50 billion in startup companies in the U.S. Trump, as is his way, took to Twitter to spread the good news. The Donald also boasted, “Masa said he would never do this had we not won the election!”

Given Trump is a Republican and a businessman himself, some business leaders – including SoftBank’s Son and T-Mobile’s CFO Braxton Carter – seem to be optimistic that his administration will be looser with regulations and open the door for more mergers in telecom.

SoftBank took a major share in cellular network operator Sprint Corp. a few years ago. Since then SoftBank and Sprint have tried to get their hooks into T-Mobile USA as well, but SoftBank ended up backing off of that effort in light of pushback from the Department of Justice and the Federal Communications Commission. Quoted in a February 2014 piece in The Wall Street Journal, Sprint Chairman Son commented that he “can’t settle with No. 3 or No. 2. It’s my personality.” The piece went on to say sources close to Son indicated he is likely to explore “all possibilities” to vault Sprint into the No. 1 carrier position.

Son has recently been talking about his 300-year plan for SoftBank. You read that right: 300 years. And earlier this year SoftBank announced its $100 billion technology fund, in which Saudi Arabia’s Public Investment Fund is also involved. But Son hadn’t previously committed a set investment or discussed job creation in the U.S. relative to that effort – that is, until his recent meeting with Trump.




Edited by Alicia Young

Executive Editor, TMC

SHARE THIS ARTICLE
Related Articles

Mist Applies AI to Improve Wi-Fi

By: Paula Bernier    11/9/2017

Mist has created an AI-driven wireless platform that puts the user and his or mobile device at the heart of the wireless network. Combining machine le…

Read More

International Tech Innovation Growing, Says Consumer Technology Association

By: Doug Mohney    11/8/2017

The Consumer Technology Association (CTA) is best known for the world's largest trade event, but the organization's reach is growing far beyond the CE…

Read More

Broadcom Makes Unsolicited $130B Bid for Qualcomm

By: Paula Bernier    11/6/2017

In what could result in the biggest tech deal in history, semiconductor company Broadcom has made an offer to buy Qualcomm for a whopping $130 billion…

Read More

How Google's 'Moonshot' Could Benefit Industrial Markets

By: Kayla Matthews    10/30/2017

The term "moonshot" encapsulates the spirit of technological achievement: an accomplishment so ambitious, so improbable, that it's equivalent to sendi…

Read More

After Cisco/Broadsoft, Who's Next for M&A?

By: Doug Mohney    10/27/2017

Cisco's trail of acquisition tears over the decades includes the Flip video camera, Cerent, Scientific Atlantic, Linksys, and a couple of others. The …

Read More