SoftBank founder Masayoshi Son has proposed organising a US-Japan sovereign wealth fund aimed toward making massive investments in know-how and infrastructure, the Monetary Occasions reported, citing three unidentified folks near the state of affairs.
Son has mentioned the plan with US Treasury Secretary Scott Bessent, though it hasn’t been formally proposed, the report stated. The joint fund would doubtless want about $300 billion in preliminary capital, with vital leverage, to be efficient, one particular person instructed the FT.
Based on the report, the fund could be collectively owned and run by the US Treasury and Japan’s finance ministry, with every holding a major stake. The fund may be opened to restricted accomplice traders, probably providing retail traders in Japan and the US an opportunity to take part.
Bessent has been on the lookout for income streams for the Treasury that don’t contain elevating taxes, and the fund may probably present an answer, an individual briefed on the state of affairs instructed the newspaper.
A Treasury spokesperson and Softbank declined to remark to the FT.
This story was initially featured on Fortune.com
