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MT. PLEASANT, Wisconsin – US President Donald Trump said Thursday that SoftBank Group Corp. (19459003) 9984.T ) Chief Executive Masayoshi Son is increasing his investments in the US to $ 72 billion, or significantly more than the $ 50 billion that he had previously promised.
$ 50 billion turned out to be $ 72 billion so far, it's not over yet, "Trump said, without providing details.
Trump's comments came to a Wisconsin grand opening ceremony for a manufacturing facility for Foxconn, the world's largest electronic contract maker, assisted by its president Terry Gou.
Son made remarks at the event, but did not mention the figure of 72 billion dollars.
SoftBank was not immediately available for comment.
In 2016, Son promised to invest $ 50 billion and create 50,000 jobs in the United States after meeting with President-elect Trump.
"I could not have decided such a thing before this new president," said Son about this decision Thursday.
SoftBank Group and Vision Fund, the largest private equity fund in the world that raised more than $ 93 billion in May, made numerous investments in US companies such as Uber Technologies Inc. and We Work.
Foxconn, an investor in the fund, is formally known as Hon Hai Precision Industry Co. Ltd. ( 2317.TW ).
Jeff Mason's report; Written by Sam Nussey; Editing by Stephen Coates and Muralikumar Anantharaman
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