Deals

SoftBank Left Millions on the Table to Engineer a Win for Masayoshi Son

Chip designer Arm’s IPO delivers drama-free, first-day pop
Biggest 2023 listing shows pluses, minuses of playing it safe

WATCH: Arm Holdings climbed 25% in its US trading debut, helping shares of its owner SoftBank rise in Tokyo. Min Jeong Lee reports.Source: Bloomberg

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By Ryan Gould, Amy Or, and Ian King

September 15, 2023 at 5:37 AM UTC

Updated on

September 15, 2023 at 9:13 AM UTC

This article is for subscribers only.

Masayoshi Son was determined to turn the tide.

His record on tech investing had taken a drubbing after SoftBank Group Corp.’s Vision Fund lost $32 billion in a year on flameouts like WeWork and DoorDash Inc. So as he and other top executives met with bankers to plot this week’s initial public offering for Arm Holdings Plc, the focus was making sure the sale would go off without a hitch.