New Delhi, 25 May (IANS). SoftBank founder Masayoshi Son has allegedly proposed to create a US-Japan Sovereign Wealth Fund of $ 300 billion to invest in cutting-edge technology and infrastructure.
The Financial Times (FT) report said that Son has interacted with US Treasury Secretary Scott Besant regarding the scheme.
The report stated that the proposal has not yet been formally presented, but the idea is becoming popular amid increasing efforts between the two countries to give a new form of economic and technology relations.
The report stated that the proposed fund would require around $ 300 billion as an initial capital and will require financial leverage to increase its investment.
The fund will be owned and operated jointly by the American Treasury and the Ministry of Finance of Japan, with a large stake between the two sides.
There is also a possibility of bringing limited partners to this fund, so that retail investors from both countries can participate.
This fund has been proposed at a time when Besent is allegedly looking for new revenue sources for American Treasury without allegedly increasing taxes.
According to FT’s report, the fund can present a possible solution by creating long -term returns through strategic investment.
However, no official statement has been made on this yet.
Earlier this year, Son held a high-profile meeting in Seoul with Samsung chairman Lee J-Yong and head of OpenAI Sam Altman.
The three giants discussed the AI strategies and possible cooperations, including the ambitious $ 500 billion Stargate project for the purpose of building advanced AI Infrastructure in the US.
Son told reporters in Seoul that the discussion was “very good” and focused on the future of AI and mobile technology.
-IANS
ABS/
