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SoftBank Group reports ¥961.58 billion annual net loss

7 Comments
By Kazuhiro Nogi

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From a vision to an illusion. WeWork, Oyo, Vision Fund...were all going down the drain well before Covid19.

Jack Ma and other notables have also quit the Softbank board.

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Softbank never had anything everything they invested in was fluff

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Softbank's Son uses money he earned using radio waves which are public assets for his personal speculations.

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I bet that Paul Singer and Prince MBS are prepping their calibers to punish Masayoshi Son once things go down. Paul Singer will control almost all of Japanese telecommunications aka SoftBank itself, while Prince MBS will be pissed for losing tons of money on Vision Fund.

Softbank's Son uses money he earned using radio waves which are public assets for his personal speculations.

He was very lucky to persuade the Japanese bureaucrats to give up a monopoly over telecoms. Eventhough, he was a Korean. His real wealth came from his Korean panchiko clan, which he used his father's wealth to bribe the bureaucrats.

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The disastrous 1.9 trillion yen ($18 billion) operating shortfall at the Saudi-backed Vision Fund, including losses of almost $10 billion at office-sharing firm WeWork and ride- hailing app Uber Technologies Inc alone, left SoftBank with its worst annual loss of 1.4 trillion yen.

https://worldabcnews.com/softbanks-vision-fund-tumbles-to-18-billion-loss-in-valley-of-coronavirus/

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I predicted disaster back when the Vision Fund was first formed. Note that in the post-Covid world, the "sharing economy" which Son is so heavily invested in may not have the brightest prospects.

Softbank's Son uses money he earned...

His money? A big chunk of the evaporating Vision Fund money came from the Saudis and Abu Dhabis. LOL. And Son still has to pay them a 7% annual coupon for their savvy investment no matter what happens. Son also tried hitting up Softbank employees for money - and offered them loans(!) - for the the second fund. What a fiasco.

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Well, at least the "Jack Ma" aka CCP stooge has gone. Now maybe Softbank can move forward without CCP interference.

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