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SoftBank’s Son Defiant as WeWork Triggers $6.5 Billion Loss

  • ‘There is no change in our journey,’ or vision, CEO says
  • Fundraising for second Vision Fund is on track, Son says
Bloomberg business news
SoftBank finally disclosed the damage from bets on WeWork and Uber. Bloomberg’s Annmarie Hordern reports.(Source: Bloomberg)
Updated on

Masayoshi Son struck a defiant tone after his SoftBank Group Corp. reported an enormous loss from investments in money-losing startups WeWork and Uber Technologies Inc.

The Japanese billionaire paced a stage in Tokyo on Wednesday showing off dozens of slides that he argued demonstrate the promise of his deal-making. He began by flashing a slide of newspaper headlines and mocking reports that SoftBank or WeWork or both would end up going bankrupt.