Trump says SoftBank chief will increase US investment to $72 billion

  • U.S. President Donald Trump said on Thursday that SoftBank Chief Executive Masayoshi Son is increasing his investment in the United States to $72 billion, significantly more than the $50 billion he had previously pledged.
President-elect Donald Trump and SoftBank Group Corp. founder and Chief Executive Officer Masayoshi Son speak to the media in the lobby of Trump Tower on December 6, 2016 in New York.
Eduardo Munoz Alvarez | AFP | Getty Images
President-elect Donald Trump and SoftBank Group Corp. founder and Chief Executive Officer Masayoshi Son speak to the media in the lobby of Trump Tower on December 6, 2016 in New York.

U.S. President Donald Trump said on Thursday SoftBank Chief Executive Masayoshi Son is increasing his investment in the United States to $72 billion, significantly more than the $50 billion he had previously pledged.

"His $50 billion turned out to be $72 billion so far, he's not finished yet," Trump said, without providing details.

Trump's comments came at a groundbreaking ceremony in Wisconsin for a manufacturing facility for Foxconn, the world's largest electronics contract manufacturer, attended by Son and Foxconn Chairman Terry Gou.

Son made remarks at the event but did not reference the $72 billion figure.

SoftBank was not immediately available to comment.

Foxconn is formally known as Hon Hai Precision.