The move has backfired, enveloping Son’s personal finances in the downside of the world’s biggest tech investor’s bets. Son was down more than US$4 billion on his side deals through the June quarter, Bloomberg News reported earlier.
Masayoshi Son is now personally on the hook for about US$4.7 billion ($6.46 billion) on side deals he set up at SoftBank Group Corp. to boost his compensation, after mounting losses in the company’s tech portfolio wiped out the value of his interest in the second Vision Fund.
Over the years, the Japanese billionaire’s controversial personal stakes in SoftBank’s investments drew fire from investors, who pointed to the mix of personal and company interests as a corporate governance concern. Son – who holds a more than 30% stake in SoftBank – has denied there was a conflict of interest and said it was remuneration for his investment expertise, in lieu of investment fees.
