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Masayoshi Son is now personally on the hook for about $5.2 billion on side deals he set up at SoftBank Group Corp. to boost his compensation, after the Vision Fund venture capital arm capped a year of record losses.
The Vision Fund unit lost ¥297.5 billion ($2 billion) in the three months ended March, ending the fiscal year with a total loss of ¥4.3 trillion — its worst since Son proudly set up the business in 2017. The world’s largest technology investor reported dismal earnings despite a global rebound in equities, as it suffered losses on unlisted startups in its portfolio.
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Masayoshi Son Now Owes SoftBank $5.2 Billion onSideDeals
