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SoftBank to Combine Frenzy of SPACs With CEO’s Eccentric Vision

  • SoftBank founder to follow Ackman, Cohn in creating vehicle
  • Vision Fund has scores of startups that have yet to go public
Masayoshi Son

Masayoshi Son

Photographer: Kiyoshi Ota/Bloomberg

Special purpose acquisition companies keep drawing in high-profile supporters, including Bill Ackman, Gary Cohn and “Moneyball” star Billy Beane. A new name will soon be added to the list of so-called SPAC sponsors: Masayoshi Son.

The Japanese billionaire’s SoftBank Group Corp. disclosed Monday it plans to set up one of the controversial vehicles in the next two weeks. In doing so, SoftBank will bring together the latest craze in capital markets with one of the more eccentric minds of the technology world. Son’s experiments, from the $100 billion Vision Fund to high-leverage options trading, have had mixed results.