Pursuits
Son's SoftBank Vision at Risk as Sprint Goes From Bad to Worse
- SoftBank shares plunge to lowest since Sprint deal in 2013
- Son's fortune falls by $3.2 billion in last 12 months
This article is for subscribers only.
The acquisition of Sprint Corp. was supposed to help Masayoshi Son realize his vision of transforming SoftBank Group Corp. into the world’s most-valuable company. Instead, the 2013 deal has become his biggest setback so far, dragging down SoftBank shares and cutting into the billionaire’s wealth.
SoftBank tumbled the past two days to its lowest level since the Sprint deal closed 2 1/2 years ago. Son’s fortune has shrunk by $3.2 billion over the past 12 months, according to the Bloomberg Billionaires Index, as the Japanese company’s stock plunged.