SoftBank Group Corp. founder and Chief Executive Officer Masayoshi Son was to meet with President-elect Donald Trump in New York on Tuesday, a person with direct knowledge of the matter said.
Son has no specific agenda for the meeting but wants to meet Trump as an investor in the U.S., including in wireless operator Sprint Corp., said the person, who asked not to be identified because the matter is private. The Japanese billionaire is in the process of raising a $100 billion investment fund and is interested in putting some of the money into the U.S., the person said.
Son, 59, made his fortune from investments in Japan and China, but has had a mixed record in the U.S. SoftBank bought control of Sprint in 2013 only to see it lose ground to rivals including T-Mobile US Inc. Son’s attempt to engineer a merger between the No. 3 and No. 4 wireless players was rebuffed by the Obama administration, but a new government may have a different take on communications policy.
The Trump transition team in New York didn’t respond to requests for comment Monday on whether a meeting had been scheduled. SoftBank wasn’t immediately able to comment.
Son said last week during a trip to India that he is close to tying up the $100 billion for a technology fund that SoftBank announced with the government of Saudi Arabia. SoftBank and Saudi Arabia’s Public Investment Fund unveiled the new venture in October with the Japanese company saying 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.
“I am talking to a few investors and I think we are oversubscribed,” Son said at an event in New Delhi on Friday, without providing details. He said he came to the city straight from a visit to Saudi Arabia.
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