SoftBank CEO Son tells Trump he will invest $50b in US startups

Softbank Corp CEO Masayoshi Son speaks during a news conference in Tokyo February 12, 2014. SoftBank Corp, which runs Japan’s third-largest mobile carrier by subscriber numbers, reported a dip in third-quarter net profit after a string of acquisitions incurred steep integration costs. REUTERS/Yuya Shino

SoftBank Group Corp. Chief Executive Officer Masayoshi Son told President-elect Donald Trump he would create 50,000 new jobs in the U.S. through a $50 billion investment in startups and new companies.

The money will come from SoftBank’s previously announced $100 billion technology fund, according to a person familiar with the matter. That investment vehicle has a $45 billion commitment from the government of Saudi Arabia and $25 billion from Tokyo-based SoftBank, which operates technology and wireless companies around the world.

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