Softbank’s Masayoshi Son floats idea of US-Japan sovereign wealth fund

SoftBank founder Masayoshi Son has proposed setting up a US-Japan sovereign wealth fund aimed at making large investments in technology and infrastructure, the Financial Times reported, citing three unidentified people close to the situation.

Son has discussed the plan with US Treasury Secretary Scott Bessent, although it hasn’t been formally proposed, the report said. The joint fund would likely need about $300 billion in initial capital, with significant leverage, to be effective, one person told the FT.