SoftBank’s Son Takes $2.4 Billion Hit in Northstar Trading Unit
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Masayoshi Son’s decision to get into trading public stocks just backfired.
The founder of SoftBank Group Corp. set up a controversial side venture in 2020 called SB Northstar, which was aimed at using the company’s excess cash to make some money picking stocks. Son took a personal 33% interest in the unit, while the company held the rest of the equity.