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The Latest Breaking News from Masayoshi Son

SoftBank deprioritizes speed, goes all in on A.I. as it reports 343 of its portfolio companies have lost value

The investment firm known for writing enormous checks at a rapid pace has entirely changed its tune.

Fortune

‘I am chatting with ChatGPT every day’: SoftBank’s billionaire boss says he’s a ‘heavy user’ of OpenAI's chatbot

Softbank's Vision Funds, the group's flagship venture funds, lost $32 billion last year.

Fortune

Are rich crypto bros worse than other rich tech bros?

The insufferable behavior of the disgraced Three Arrows founders is the latest bad look for crypto.

Fortune

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World's top 20 richest sports team owners as Man Utd bidder Sir Jim Ratcliffe in at No.6

Billionaire Sir Jim Ratcliffe, owner of OGC Nice and one of the bidders for Manchester United, is among the richest owners of sporting institutions around the world

Daily Mirror

Elon Musk Breaks Guinness World Record For Largest Fortune Loss

Elon Musk made it to the Guinness World Records for the "largest loss of personal fortune:" from $340 billion in November 2021 to $137 billion in January 2023.

InsideEVs

Rishi Sunak restarts talks on London listing for UK tech firm Arm

Japanese investor SoftBank thought to favour New York for computer chip designer’s IPO

The Guardian - UK

What is the post-FTX future of cryptocurrency?

Cryptocurrencies, experts say, have mainly been speculative, which only worked as long as real dollars were there.

Al Jazeera

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The biggest and fastest net-worth losses of our time

While Sam Bankman-Fried lost his whole fortune last week, he's not the first billionaire to see a dramatic drop in net worth.

Fortune

SoftBank Can't Catch A Break: Fund Invested $100M In FTX

Japanese conglomerate holding company SoftBank is positioned to take a big hit from its investments in bankrupt cryptocurrency exchange FTX. The FTX losses are just the latest in a long string of disastrous investments for SoftBank in recent years that have resulted in billions of dollars of losses.

Benzinga

SoftBank cuts 150 jobs as investments plummet

It comes just weeks after the firm posted a staggering $23 billion (£19 billion) net loss

Evening Standard

Masayoshi Son sounds a warning for vision-peddlers everywhere

The SoftBank founder has sent investors an uncharacteristic message of risk aversion — and that’s a problem for Japan

Financial Times

Why SoftBank's Billionaire CEO Can't Harness His Inner Warren Buffett And Buy The Market Dip

Japanese investment heavyweight SoftBank Group Corp reported a record $23-billion quarterly loss on Monday.

Benzinga

SoftBank CEO ‘ashamed’ of pride in past profits as record losses prompt cost cuts

Japanese technology and investment group is seeking to float UK-based chip maker Arm

The Guardian - UK

SoftBank ‘halts plans’ for Arm’s London listing amid political instability

Loss of UK chip designer’s flotation would jeopardise capital’s attempt to prove it can compete against US

The Guardian - UK

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Benzinga

Benzinga Before The Bell: Gun Safety Bill. Bill Gates North Dakota Outrage, Sanofi-GSK's Covid-19 Vaccine's Omicron Efficacy And Other Top Financial Stories Friday, June 24

Reuters

The Guardian - UK

Owner of UK chip designer Arm says London still in running for flotation

SoftBank chief has been lobbied to bring public offering to the UK but says Nasdaq still his ‘main preference’

Benzinga

Softbank's Masayoshi Son Emphasizes Chances Of US Listing For Arm

Softbank Group Corp (OTC:SFTBY) founder and CEO Masayoshi Son stressed the possibility of British-based chip designer unit Arm Ltd listing on Nasdaq pending a final decision, Reuters reports. "Most of Arm's clients are based in Silicon Valley and ... stock markets in the U.S. would love to have Arm," Son told at the annual…

The Guardian - UK

The only way to convince SoftBank to list Arm in London is on merit

Government idea to force Japanese firm to list Cambridge computer chip designer in UK seems desperate

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Benzinga

Softbank Continues To Lose Key Official In Quick Succession

Softbank Group Corp (OTC:SFTBY) (OTC:SFTBF) SoftBank Group International named SBGI Managing Partner Alex Clavel as CEO, effective June 30. Clavel, a seven-year veteran in the company, succeeded Michel Combes, who departed to pursue new opportunities after five years in the company. Combes had assumed the CEO position five months back, succeeding former SoftBank…

The Guardian - UK

Owner of UK chip designer Arm may float some of firm’s shares in London

Japan’s SoftBank still likely to conduct IPO in New York but could secure secondary listing

Bangkok Post

Uniqlo chief regains spot as Japan's richest

Tadashi Yanai, founder and chief of Japanese clothing retail chain Uniqlo, has regained his title as the richest person in Japan even as a global economic slowdown has eroded his wealth sharply, according to international business magazine Forbes Asia's latest list of the 50 richest people in Japan.

Benzinga

CLSA Expects SoftBank To Focus More On Buybacks Than High Growth Stocks Like Alibaba

Softbank Group Corp (OTC:SFTBY) (OTC:SFTBF) may, for the first time, spend more on share buybacks than investments through its landmark Vision Fund as the firm goes into "defense" mode, according to CLSA's Oliver Matthew. "I think that the comments yesterday from Masayoshi Son made it very clear we're in defense round…

Benzinga

SoftBank's Stock Picking Unit Suffers Colossal Losses Due To Tech Meltdown

Softbank Group Corp (OTC:SFTBY) (OTC:SFTBF) founder Masayoshi Son's controversial side venture SB Northstar, which focused on stock picking, just backfired, Bloomberg reports. SoftBank reported a record annual loss at its Vision Fund unit as a global selloff in tech shares battered the value of public holdings like Coupang, Inc (NYSE:CPNG) and DiDi Global Inc (NYSE:DIDI). The Vision Fund unit hinged…

Evening Standard

WeWork-backer SoftBank posts record $20 billion loss as tech stocks plunge

The world’s biggest technology investor has lost a record $20.5 billion (£16.8 billion) as its bets turn sour.

The Independent UK

Japan's SoftBank sinks to losses as investments sour

Japanese technology company SoftBank Group has dropped into losses as the value of its investments declines

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