After 133% Rally, SoftBank Investors Bet There’s More Ahead
- Founder Son engineers a comeback with $70 billion market rally
- “The share price can still double,” one investor says
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SoftBank Group Corp. founder Masayoshi Son has delivered a clear response to critics who thought the twin disasters of WeWork and the coronavirus would bring down his empire: not just yet.
The Japanese technology giant’s shares have more than doubled from their March low, propelled by buybacks and improving market conditions for its portfolio companies. SoftBank bonds, which traded at less than 65 cents on the dollar in March, have recovered to near par. Son, 62, has seen his own net worth soar to $20 billion, the highest since the Bloomberg Billionaires Index began tracking his wealth.