Softbank Group founder Masayoshi Son said on Tuesday he has $80 billion in cash to purchase more shares and investments in private and public companies, according to Bloomberg. After record share price falls in March, Softbank unveiled plans to offload 4.5 trillion yen in assets and buy back 2.5 trillion yen of its own stock.
- Softbank’s founder will invest in public companies if he believes they will become successful in the AI revolution.
- Softbank’s idea of going private through buyout was on the table about five years ago, but the founder declined to comment whether he would take the company off the public.
- The company has invested $20 billion in tech stocks and derivatives through a unit in which Son holds a one-third stake.
- Softbank recorded a 784.4 billion yen profit in its Vision Fund business for the three months ended September 30, boosted by a Chinese AI start-up’s performance.
- Son termed Adam Neumann, founder of WeWork, as smart and aggressive despite last year’s fallout after Softbank bailed out the co-working start-up
- Softbank paid Neumann a portion of $185 million fees as part of his controversial exit package as WeWork CEO.
Softbank stock is currently declining. 9984: TYO is down 1.31%