Explaining SoftBank's Close Ties With Saudi Arabia

The controversy over the disappearance of journalist Jamal Khashoggi has prompted business leaders to distance themselves from Saudi Arabia. U.S. Treasury Secretary Steven Mnuchin, JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon and Uber Technologies Inc.’s Dara Khosrowshahi have all dropped out of an investment conference in Riyadh slated to begin Oct. 23. However, SoftBank Group Corp.’s founder Masayoshi Son is among the few who haven’t. Here’s an overview of Son and SoftBank’s ties to Saudi Arabia — and their potential risks.

A close one. SoftBank’s empire spans wireless operations in Japan, solar power in India and a stake in Sprint Corp. But in the past few years, Son has increasingly focused on investments in technology companies through a $100 billion fund known as the Vision Fund. Saudi Arabia is the biggest investment partner in the fund. Its sovereign wealth fund -- the Public Investment Fund, or PIF -- has committed $45 billion and plans to put the same amount into a second fund. SoftBank has also said it will support PIF’s $200 billion solar power project in Saudi Arabia.