SoftBank’s Masayoshi Son Goes to Riyadh, Skips Conference

SoftBank Group Corp. Chief Executive Officer Masayoshi Son met with Saudi Crown Prince Mohammed bin Salman in Riyadh on Monday, but will not attend a controversial investment conference now underway in that city, according to two people familiar with the matter. He also skipped a dinner held at the residence of Yasir Al-Rumayyan, the managing director of Saudi Arabia's Public Investment Fund, on Monday night. Son is leaving Riyadh today. Both sources declined to be identified because the plans are private.

Son joins a growing list of business leaders who have distanced themselves from the Future Investment Initiative conference, but his move is particularly notable because SoftBank’s $100 billion Vision Fund has a $45 billion commitment from Saudi Arabia’s Public Investment Fund. Son's planned absence was earlier reported by the Wall Street Journal.