The Dealmaker-in-Chief-Elect is at it again y'all!
After spending his morning going full Trumpmanian Devil on Boeing for driving up the cost on the new Air Force One, the next leader of the free world decided to exchange his morning stick for an afternoon carrot.
And like anyone practiced in the art of ongoing negotiation, Trump was quick to share the credit...
Right. Well, Masa is also fond of musing about his role in the robot apocalypse, so the guy definitely "says stuff."
But why would he not take huge credit for a deal this fabulous? After all, this is a massive number that is clearly a signal from a foreign private sector company that it will put its money into Trump's America. And SoftBank must be rolling in dough to drop $50B jsut like that.
Wait, SoftBank's market cap is only about $61B? Even with all that money it got from fleecing the other blond American it likes to deal with (whattup, Marissa Matyer? We miss you)?
So is SoftBank investing literally everything it has into a long bet on the Trump economy, or is something else at work here?
[SoftBank founder and CEO Masayoshi] Son told reporters the funding would go to “new companies, startup companies in the United States.” The Japanese billionaire is developing a $100 billion technology fund with the government of Saudi Arabia, though it’s unclear whether that would be part of the U.S. investment.
Sweet rhetorical question, Bloomberg.
SoftBank and Saudi Arabia’s Public Investment Fund unveiled their new venture in October. The Japanese company said it will invest $25 billion, while Saudi Arabia committed $45 billion. The two have been talking to other investors for the remaining $30 billion. When plans for the fund were first announced, Son said that he planned on being the biggest investor in technology over the next decade. Son said last week during a trip to India that he is close to tying up the $100 billion.
It would be pretty hard to fathom how else SoftBank is going to come up with $50B and all those jobs unless they dip into this previously-announced Saudi pot that was always going to be spent in the U.S. regardless of who won the election. And the reality of where the money is coming from obviously differs from the one being sold by an eccentric and inscrutable billionaire in Midtown Manhattan, where he was joined by Masayoshi Son.
But hey, investment in America is investment in America. And President Trump will not brook letting Boeing make money on a new plane when he can let the Saudis pump money into Masayoshi Son's pursuit of The Singularity on American soil. It will be like a bad episode of "The Big Bang Theory" but with even more money being thrown around...and terrifying.