SoftBank
Masayoshi Son Now Owes SoftBank $4.7 Billion on Side Deals
(Bloomberg) — Masayoshi Son is now personally on the hook for about $4.7 billion on side deals he set up at SoftBank Group Corp. to boost his compensation, after mounting losses in the company’s tech portfolio wiped out the value of his interest in the second Vision Fund. Most Read from Bloomberg Over the years, …
Joby Aviation Partners With REEF Technology to Launch Air Taxis By 2024 – Commercial Observer
Here’s a gut check for every frustrated commuter who gripes about gridlock in South Florida: Would you be willing to board an “aerial rideshare” to soar above the congestion? Joby Aviation, a California company building a fleet of mini-helicopters, and REEF Technology, the Miami-based operator of parking garages, this week announced a partnership aimed at …
REEF Technology raises $700M from SoftBank and others to remake parking lots – TechCrunch
It seems like SoftBank and the Mubadala Corp. aren’t finished taking big swings at the commercial real estate business in the U.S. Even after the collapse of WeWork, the investors are doubling down on a similar business model as part of a syndicate investing $700 million into REEF Technology. REEF began its life as Miami-based …
SoftBank swings to profit after record loss as Vision Fund recovers
Masayoshi Son, chairman and chief executive officer of SoftBank Group at the SoftBank World 2018 event in Tokyo, Japan. Kiyoshi Ota | Bloomberg | Getty Images SoftBank Group posted a $12 billion quarterly profit on Tuesday after reporting historic losses of $13 billion for its last fiscal year. The recovery is largely down to rising …
SoftBank invests in Credit Suisse funds that finance its technology bets
SoftBank has quietly poured more than $500m into Credit Suisse investment funds that in turn made big bets on the debt of struggling start-ups backed by the Japanese technology conglomerate’s Vision Fund. SoftBank made the investment into the Swiss bank’s $7.5bn range of supply-chain finance funds, said three people familiar with the matter. Credit Suisse …
SoftBank leads $500 million fundraising for Didi’s self-driving unit
FILE PHOTO: Logo of Didi Chuxing is seen at its headquarters building in Beijing, China August 28, 2018. REUTERS/Jason Lee BEIJING/SHANGHAI (Reuters) – China’s Didi Chuxing said on Friday it had completed a fundraising round of over $500 million for its autonomous driving subsidiary that was led by SoftBank Group’s (9984.T) Vision Fund 2. The …
SoftBank says Jack Ma is leaving its board after it sinks to historic loss
Hours before SoftBank reported a record annual operating loss of 1.36 trillion yen ($12.7 billion) — the worst in at least 20 years, according to the data provider Refinitiv — it announced that Alibaba (BABA) founder Jack Ma would resign from its board. Ma, who is still a director of the Chinese e-commerce company, had …
COVID-19 Impact on the Technology Industry & Bounce Back Strategies
New York City , March 27, 2020 (GLOBE NEWSWIRE) — For Immediate Release // Friday/March 27th, 2020 When the COVID-19 outbreak started in Wuhan, China, little did we know the global impact of this not just on people and public health but on industries across the board. The global technology industry generates over $5 Trillion …
SoftBank profit wiped out by Vision Fund losses, second fund scaled back
TOKYO (Reuters) – Quarterly profit at SoftBank Group Corp (9983.T) was almost wiped out as the Japanese technology giant was hit for a second straight quarter by losses at its $100 billion Vision Fund. Wednesday’s dismal results could further dampen investor enthusiasm for founder Masayoshi Son’s big bets on untested start-ups. While Son told a …
WeWork’s Implosion Shows How SoftBank Is Breaking the World
Why should we believe any of the people responsible for the ongoing tech bubble when they claim what they’re doing has great benefit for humanity? Listening to them, you might think that rising inequality, rampant tax evasion, and ecological devastation are simply capitalism run amok. This assertion, however, obscures what the bubble has done to …