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Anusuya Lahiri

SoftBank Goes Defensive On Investments Following Tech Meltdown

SoftBank NYSE Masayoshi Son Vision Fund BABA (Organization) Alibaba Group Holding Ltd

SoftBank Group Corp (OTC:SFTBY) (OTC:SFTBF) founder Masayoshi Son looked to slow down investments to raise cash amid the tech stock meltdown and China's regulatory crackdown the Financial Times reports.
Rising interest rates and the Ukraine crisis have ravaged its holdings.
SoftBank also suffered due to considerable holding in Alibaba Group Holding Ltd (NYSE:BABA) and DiDi Global Inc (NYSE:DIDI), which continued to attract regulatory crackdown.
The estimated writedown for this quarter stood at $30 billion. However, a recent uptick in some shares led to a writedown of ~$20 billion.
SoftBank used stock in Coupang Inc (NYSE:CPNG) and other significant holdings in the Vision Fund as collateral for loans. It finalized loans worth $10 billion tied to the IPO of U.K. chip designer Arm Holdings.
Son owned about a third of SoftBank and borrowed against his stake to personally invest in Vision Fund.
Son was very concerned about the rising collateral.
SoftBank made investments in 195 private companies in 2021.

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