, Columnist
Uber Is Biggest Loser as SoftBank Counts IPO Returns
Vision Fund big-name investments are sliding and that threatens profits
The magic touch is missing; how long will public shareholders wait?
Photographer: Zhang Peng/LightRocket via Getty Images
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SoftBank Group Corp.’s masterful late-stage investment in Uber Technologies Inc. is seen as proof of the power of Masayoshi Son’s fat checkbook.
The ride-hailing company’s U.S. listing, however, has now become among the biggest weights around the neck of the SoftBank Vision Fund, according to data it released Wednesday. While SoftBank posted a solid increase in net income, most of that came from a one-time gain from its direct stake in Alibaba Group Holding Ltd.