Trump secures $50-B investment from Japanese billionaire

President-elect Donald Trump stands with SoftBank Group Corp. founder and Chief Executive Officer Masayoshi Son in the lobby of Trump Tower on Dec. 6, 2016 in New York. (AFP photo)

New York, United States — Donald Trump boasted Tuesday of securing a $50 billion Japanese telecoms investment to create 50,000 US jobs, claiming another high-stakes personal win for the economy before kicking off round two of a victory tour.

The US president-elect provided no details on the jobs or investment, which he trumpeted following a meeting with Japanese self-made billionaire Masayoshi Son at Trump Tower in New York.

The property developer, who has never previously held office and whose defeat of Hillary Clinton stunned the world, first tweeted the announcement, then strode into the lobby of his headquarters to brief reporters in person.

“This is Masa of SoftBank from Japan and he’s just agreed to invest $50 billion in the United States and 50,000 jobs,” said Trump, standing with his arm around a grinning Son.

“He’s one of the great men of industry, so I just want to thank you very much,” he added, turning to shake the Japanese magnate’s hand.

“I just came to celebrate his new job,” said Son, repeating his commitment and saying that SoftBank would be investing in startup companies in America.

The flamboyant tycoon brandished a piece of paper that indicated SoftBank and Foxconn, the Taiwanese technology giant, “commit to invest $50bn + $7bn in US, generate 50k + 50k new jobs in US in next four years.”

Trump got into hot water last week by taking a protocol-busting telephone call from the president of Taiwan and is under increasing fire in the media for conflicts of interest between his vast business empire and taking top office.

In an interview with The Wall Street Journal, Son said the money will be coming from a $100 billion investment fund that he is setting up with Saudi Arabia’s sovereign wealth fund and other potential partners. AFP