SoftBank delivers first US$1bil of Trump pledge, to space firm

People walk behind the logo of SoftBank Corp in Tokyo December 18, 2014. REUTERS/Toru Hanai/File Photo

WASHINGTON: Satellite broadband firm OneWeb on Dec 19 announced a US$1.2bil (RM5.37bil) funding round led by SoftBank, the first concrete investment from the Japanese group which made a pledge to President-elect Donald Trump. 

SoftBank, which is providing US$1bil (RM4.47bil) of the funding for the project aimed at providing global internet access via satellite, made the announcement just two weeks after its chief executive Masayoshi Son met Trump and pledged to invest US$50bil (RM223.97bil) in the US economy and create 50,000 jobs.