SoftBank’s Dour Change of Tune is a Lesson For UK Investors
- Date: 18-May-2022
- Source: Morning Star
- Sector:Financial Markets
- Country:Saudi Arabia
SoftBank’s Dour Change of Tune is a Lesson For UK Investors
Catastrophic full-year results at the world’s largest technology sector investor are a window for Australian investors into the global selloff and how big players are responding.
Famous for its early investment in then-fledgling Chinese e-commerce venture Alibaba, the sprawling Japanese telecommunications giant SoftBank is also known for the US$100 billion-plus it wields through two-venture capital "Vision Funds". The first launched in 2017 with money from Saudi Arabia and Apple and made high-profile investments in the likes of Uber, WeWork and Tiktok owner ByteDance.
However, the abrupt tide change in markets has left Softbank beached. After booking a record-breaking profits last financial year, Softbank’s vision funds are nursing a US$27 billion loss.
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