- 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.
