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Did Trump Just Convince a CEO to Double His Investment on Live TV?

Mia Cathell
Mia Cathell  |  December 16, 2024 1:15 PM

During a live news conference, President-elect Donald Trump asked the CEO of a Japanese multinational company to double his investment on the spot. He didn't say no.

At a press briefing jointly announcing that Softbank, a Tokyo-based tech firm, is investing $100 billion in U.S. projects, creating at least 100,000 new American jobs over the next four years of Trump's second term, the president-elect urged CEO Masayoshi Son to add another $100 billion to his financial pledge.

"I'm going to ask him right now: Will you make it $200 billion? Believe it or not, he can actually afford to do that," Trump said. "Will you do that?"

"My promise is $100 billion, but he's asking to do more!" Son said.

"I think with your leadership..." Softbank's chairman continued while turning toward Trump, "I will try to make it happen."

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"Alright, $200 [billion]. He'll make it happen," Trump countered. "$200 billion investment."

To which, Son laughed heartily.

"He is a great negotiator!" Son, pointing to Trump, responded, as the incoming president placed a hand on his shoulder, pulled him in for a brief embrace, and patted him on the back.

"When you say you'll try, I know you'll do it," Trump told Son.

"I will really try," Son promised. "And I need your support!"

"You'll have my support," Trump affirmed.

Trump said this "historic investment is a monumental demonstration of confidence in America's future" and will "help ensure that artificial intelligence, emerging technologies, and other industries of tomorrow are built, created, and grown right here in the USA."

"I'm very, very excited," Son said. "I would really like to celebrate the great victory of President Trump. And my confidence level in the economy of the United States has tremendously increased with his victory."

Trump noted that the two met at Mar-a-Lago to work out the details of their partnership.

Following the 2016 election of Trump, Softbank also committed to invest $50 billion in American interests. According to CNN, through the firm's venture capital arm, The Vision Fund, SoftBank ended up investing about $75 billion.

"They kept that promise in every way, shape, and form. And now, they're looking to do $100 [billion]," Trump touted.

"I've looked at their books. They do have the possibility of doing more," Trump said prior to prodding Son on an additional $100 billion.

Son is the second-richest person in Japan and the 56th wealthiest individual in the world with a $32 billion fortune, Forbes estimates.

"President Trump is a double-down president," Son said. "I'm going to have to double down."

Trump made the Softbank announcement Monday morning ahead of extended remarks about how he'll heal America's beleaguered economy. There, Trump pledged to make more tax cuts and allow any company that invests at least $1 billion in the U.S. to be eligible for fully expedited permit approvals, including environmental ones, as part of his plans to rebuild American industry.

"This will be the most exciting and successful period of reform and renewal in all of American history, maybe of global history, the golden age of America, I call it. It's begun," Trump said.