Softbank Group Stock News

SoftBank''s Masa Son Sees $25 Billion Evaporate Amid Crushing Tech Selloff The recent selloff in markets has been hard for a lot of investors, but SoftBank''s Masayoshi Son has probably seen more of his net worth evaporate than any other billionaire besides Facebook''s Mark Zuckerberg. According to Bloomberg , the SoftBank billionaire has seen his net worth fall by $25 billion over the past year, to just $13.5 billion today. While it doesn''t come close to the $70 billion he lost during the dotcom implosion, it''s still a massive sum. It looks like we were on to something back in 2019 when we posited that SoftBank might be the tech bubble era''s "short of the century". Of course, what''s even more problematic than Softbank''s paper losses is the firm''s loan-to-value ratio. During the good times, SoftBank leveraged up and used the money to invest in more tech stocks. Source: Bloomberg Now, the stocks that it has borrowed against - most notably the firm''s massive holdings in Alibaba, which has been one of the hardest-hit stocks during the selloff in Chinese stocks.

Shift (SFT) will acquire certain assets of Fair Technologies for a combination of cash and Shift''s class A shares.Concurrently, SFT entered into a commitment letter with SoftBank…

Softbank managing partner Munish Ravinder Varma has resigned from the board of the digital financial services company One97 Communications, which operates under the Paytm brand, and PB Fintech, according to regulatory filings by both companies on Tuesday.

The British company will shed 12 per cent to 15 per cent of staff in the UK and the US, Chief Executive Officer Rene Haas said in a memo to staff, according to a person familiar with the matter

SoftBank Group Corp (OTC: SFTBY ) (OTC: SFTBF )-owned Arm Ltd looks to slash 15% of its workforce as it prepares for its initial public offering, Bloomberg reports . Arm aims to trim 12% - 15% of U.K. staff to control spending and … Full story available on Benzinga.com

Widely regarded as the jewel in the crown of the U.K. tech sector, Arm employs employs around 6,400 people worldwide.

Arm, a UK-based semiconductor company owned by SoftBank (SFTBY) intends to trim up to 12% to 15% of its workforce in the U.S. and the U.K

There will be no change in investment made by Softbank in these companies, the source said.

Representatives of SoftBank Group Corporation will step down from the boards of Indian digital payments firm Paytm and the parent of online insurance aggregator Policybazaar, a person with direct knowledge of the matter said.

Japanese tech conglomerate expects it would have fewer regulatory issues to tackle with strategy.

The decision is part of SoftBank''s global strategy to exit from the boards of most of its listed portfolio companies, said the source, adding that the Japanese tech conglomerate expected it would leave fewer regulatory issues to tackle.

Representatives of SoftBank Group Corporation will step down from the boards of Indian digital payments firm Paytm and the parent of online insurance aggregator Policybazaar, a person with direct…

The action is consistent with Softbank''s move globally—it steps away from board positions after its portfolio companies get listed. Softbank will remain as an investor and retain its shareholding in both these firms, the people cited above said, asking not to be named.

People briefed on the matter said this is in line with SoftBank''s policy of stepping away from the board once the portfolio companies go public.

SoftBank Group Corp (OTC: SFTBY ) (OTC: SFTBF ) Vision Fund''s block trade sale worth $1 billion on March 9 triggered Coupang Inc (NYSE: CPNG ) share''s recent meltdown. SVF Investments (UK) Ltd sold 50 million Coupang shares for $20.87 per share. Coupang''s shares … Full story available on Benzinga.com