The Trump Organization gets into the wireless business with a $47.45-a-month mobile plan and a $499 phone available for preorder.

The Trump Organization on Monday announced the creation of a new wireless service called Trump Mobile that it hopes will rival US telecom providers like AT&T, Verizon and T-Mobile.

Japan's SoftBank has raised $4.8 billion from a sale of 21.5 million T-Mobile shares at $224 each, according to a term sheet reviewed by Reuters. The shares were offered in a price range of $224 to $228 each,

SoftBank Group Corp. is seeking to raise as much as $4.9 billion in an unregistered overnight block sale of T-Mobile US Inc. shares, according to terms of the deal seen by Bloomberg News.

Beginning September, Trump Mobile will sell the T1 phone for $499 and a wireless service to let users make calls, send messages and use data — all unlimited for $47.45 a month. Trump's election campaign slogan “Make America Great Again” is displayed prominently on the T1 mobile phone.

Japan's SoftBank raised $4.8 billion from a sale of 21.5 million T-Mobile shares at $224 each, according to a term sheet reviewed by Reuters.

For a prepaid phone service, Trump Mobile is a bad deal. Prepaid plans are usually designed to offer a mix of affordability and flexibility — most of them let you pay or cancel month to month. They usually include fewer perks than post-paid phone plans, but you can generally get a better price.

Trump Mobile, unveiled by Donald Trump Jr. and Eric Trump, will sell American-made phones and monthly plans with telemedicine, roadside assistance included.