TOKYO – Anyone who thinks they’ve had a rough couple of weeks should spare a thought for SoftBank’s Masayoshi Son.
The tech giant he founded – and its US$100 billion venture capital fund – is getting absolutely hammered in world markets. Shares in SoftBank Group Corp extended a six-day slump, falling as much as 9% on Monday.
The irony, of course, is that the man who did more than any outsider to energize China’s Big Tech industry now risks being undone by it. Son was Alibaba Group’s most important early benefactor. Now the Vision Fund’s exposure to Jack Ma’s juggernaut is helping savage SoftBank’s market capitalization.