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Why Foxconn's founder trusts Masayoshi Son so much

So far, new U.S. President Donald Trump has not had a good relationship with Silicon Valley's tech scene, but East Asian tech giants have given Trump much-needed gifts: investment, jobs and factories, according to the FT.

The three Asian giants are Japan's SoftBank, founded by Masayoshi; Alibaba, founded by Jack Ma; and Foxconn, headed by Robert Kuo, who produced $75 billion worth of hardware for Apple in 2016 but did not meet Trump in person. These three companies have a market capitalization of over $400 billion and employ over 1.1 million people. They represent vertically integrated capabilities in technology (Foxconn), big data processing (Alibaba) and investment (SoftBank).

There are numerous examples of Alibaba, SoftBank and Foxconn working together and relying on each other. Last week, Foxconn acquired SoftBank's technology fund in Asia, buying a 54.5 percent stake in SoftBank for $600 million. Observers believe the move may have been made to bolster trust between Sun, who also helped Foxconn's $3.5 billion acquisition of Sharp behind the scenes in 2016, including helping to set up meetings with Sharp's borrowers, and who called Kuo a "true friend". Sharp was jokingly described by one banker as Foxconn's "hunting license" in Japan. The two deals have prompted analysts to believe that the technology fund could be used to buy the operator of Toshiba's flash memory business, an area that Kuo has been focusing on. Foxconn is also backing SoftBank's upcoming $100 billion technology fund, as well as Saudi Arabia's sovereign wealth fund, Apple and chipmaker Qualcomm.

Alibaba also has a close relationship with Softbank, which earlier invested $20 million in Alibaba. In addition, the founders of the two companies are close friends. Alibaba has just received $5 million from US investment bank Goldman Sachs, which is flush with cash. Sun Zhengyi, now a member of Alibaba's board of directors, has twice co-invested with Foxconn, including in Chinese car app didi travel and Indian online retailer snapdeal. on a personal note, both Ma and Sun have invested in Bill Gates's groundbreaking energy project.

So Foxconn's founders trust Masayoshi Son because they have a lot at stake and a lot of similar experiences with each other.