These affiliate partnerships do not influence our editorial content. According to Bloomberg, Son “may see the current moment-with tumbling stock prices and fearful investors-as just the right moment to prepare for big bets.” Going the gutsier route has sometimes worked for Son in the past, but it places SoftBank’s future, in addition to its reputation, on the line.ĪppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases.
If this third fund follows in preceding Vision Funds’ footsteps, then Son may be on the hook for more money, and could blow through SoftBank’s cash reserves. SoftBank’s eccentric founder, self-made billionaire Masayoshi Son, personally owes $2.1 billion to SoftBank under the terms of the Vision Fund 2 funding structure and due to the fund’s poor performance what’s more, SoftBank is about to lay off 20% of its staff, and employee salaries have already been cut. This could signal SoftBank’s gradual decline. With so much investor money already wasted on bad bets-from WeWork to Didi Global-SoftBank may have to use its own cash for the new fund. SoftBank reported a $23B loss in Q2 2022.
Japan-based tech investor SoftBank is reportedly considering another multibillion-dollar startup fund.
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