By ABC (Business) | Created at 2024-12-16 15:10:31 | Updated at 2024-12-24 16:11:25
1 week ago
President-elect Donald Trump will join SoftBank Group CEO Masayoshi Son at his Florida home to announce that the company is planning to invest $100 billion in U.S. projects over the next four years
ByCOLLEEN LONG Associated Press and JILL COLVIN Associated Press
December 16, 2024, 9:46 AM
PALM BEACH, Fla. -- President-elect Donald Trump will join SoftBank Group CEO Masayoshi Son at his Florida home on Monday to announce that the company is planning to invest $100 billion in U.S. projects over the next four years.
That's according to a person familiar with the plans who spoke on condition of anonymity before the planned announcement. Trump is set to speak at his Mar-a-Lago resort at 11 a.m., marking the first time he will address reporters since he won the election last month.
Japanese technology group SoftBank makes investments in a variety of companies that it groups together in a series of Vision Funds.
The company's investment portfolio that includes search engine Yahoo, Chinese retailer Alibaba, and artificial intelligence company Nvidia. The announcement will come days after Trump vowed to expedite federal permits for energy projects and other construction worth more than $1 billion.
In a post on his Truth Social site Tuesday, Trump said anyone making a $1 billion investment in the United States “will receive fully expedited approvals and permits, including, but in no way limited to, all Environmental approvals.”
“GET READY TO ROCK!!!” he added.
The announcement was first reported by The Wall Street Journal.
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Colvin reported from New York
