SoftBank CEO Cozies Up to Trump

By

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
Get stories like this delivered straight to your inbox. [Free eNews Subscription]

Executive Editor, TMC

SHARE THIS ARTICLE
Related Articles

Introducing the Newest Addition to ITEXPO #TECHSUPERSHOW: Enterprise Cybersecurity Expo

By: TMCnet News    6/11/2024

TMC today announced the launch of Enterprise Cybersecurity Expo, set to take place from February 11-13, 2025, in Fort Lauderdale, Florida, at the Brow…

Read More

The Shifting Landscape: Emergent Technological Paradigms in Online Sports Wagering

By: Contributing Writer    6/7/2024

In the ever-evolving sphere of online sports wagering, technological advancements have been instrumental in reshaping the landscape, altering how enth…

Read More

Unpacking The Differences: How CPaaS And Network APIs Drive Distinct Innovations

By: Special Guest    6/5/2024

While they share some technical synergies, CPaaS and Network APIs serve different markets and purposes, highlighting the need for complementary strate…

Read More

Protecting Your Digital Fortress Through Threat Exposure Management

By: Contributing Writer    5/23/2024

In today's digital landscape, cybersecurity threats loom large, posing significant risks to businesses, organizations, and individuals alike. With the…

Read More

Why Block Websites? Understanding the Reasons

By: Contributing Writer    5/6/2024

The internet is such an expansive network where every click can lead to information, entertainment, or opportunities for productivity. However, this a…

Read More