TOKYO, May 26, 2025 — Masayoshi Son, founder of SoftBank, has reportedly proposed the creation of a US-Japan sovereign wealth fund with an estimated $300 billion in initial capital, designed to target investments in advanced technology and infrastructure, according to the Financial Times.

Masayoshi discussed the idea with US Treasury Secretary Scott Bessent, although no formal proposal has been submitted. The report suggests the fund would be co-owned by the US Treasury and Japan’s Ministry of Finance, each holding major stakes, and may invite limited partners, possibly including retail investors from both countries.

The proposal comes as Bessent looks for new Treasury revenue sources without raising taxes. The envisioned fund, which would employ substantial financial leverage, is seen as a potential vehicle for generating long-term returns through targeted strategic investments.

Earlier this year, Masayoshi held a high-profile meeting in Seoul with Samsung Chairman Lee Jae-yong and OpenAI chief Sam Altman. Masayoshi described the talks as “very good,” focusing on artificial intelligence strategies and potential collaborations, including the ambitious $500 billion Stargate project aimed at building advanced AI infrastructure in the United States.

While no deals were finalized at that meeting, Masayoshi expressed optimism about future discussions and praised South Korea’s technological capabilities, particularly its engineering talent. He also signaled that further talks may involve companies like SK hynix.

Neither SoftBank nor government officials from the United States or Japan have issued public statements regarding the proposed sovereign wealth fund.