SoftBank CEO who said he was like Jesus, Yoda suffers $32B fund loss

SoftBank's founder compared himself to Jesus and Yoda. His tech fund lost a record $32 billion this year.

When the downturn was getting started, the SoftBank chief declared last year that he was going intoHis comment came after a pandemic software boom, which led to record profits for the company, went into reverse.

But even defensive mode hasn't stopped SoftBank from getting pummeled. In the good times of cheap money, the Japanese firm came to symbolize all the excess that the market is now doing its best to excise.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

BusinessInsider /  🏆 729. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Is Elon Musk leaving Twitter? What we know'Excited to announce that I've hired a new CEO for X/Twitter,' the CEO tweeted.
Read more »

SoftBank posts record $32 billion loss at its Vision Fund tech investment armSoftBank's Vision Fund segment posted a 4.3 trillion Japanese yen ($32 billion) loss for its fiscal year ending Mar. 31.
Read more »

SoftBank posts $7.18 bln annual loss as Vision Fund slides furtherJapan's SoftBank Group Corp reported an annual net loss of 970 billion yen ($7.18 billion) for the year ended March 31, with the Vision Fund unit posting a quarterly investment loss due to weakness in tech valuations.
Read more »

SoftBank Trims Overall Loss After Topsy-Turvy Fiscal YearThe adjusted value of Japanese tech investor’s Alibaba stake falls to a small fraction of year-ago level.
Read more »

SoftBank books narrower loss after Alibaba stake sell-downJapan's SoftBank Group Corp on Thursday posted a sharply narrower annual loss after a capital raise using its stake in Alibaba Group Holding Ltd helped cushion investment loss at its Vision Fund investing arm.
Read more »