TagSoftBank

Uber IPO Smacks Saudi Wealth Fund with $200 Million Loss

By CCN: The Saudi Arabian Public Investment Fund (PIF) was one of the first believers in Uber, ponying up billions of dollars to invest in it back in 2018. Now that the ride-sharing company has finally gone public, the fund stands to be one of the biggest losers. The fund bought in at $48.77 a share, far higher than Uber’s debut price of $42. At the time of writing Friday, Uber shares were...

Japan’s Second-Richest Man Bet Massively on Bitcoin. He Lost $130 Million

Bitcoin, Masayoshi Son

By CCN.com: Japanese billionaire Masayoshi Son made a huge bet on bitcoin at the top of the market. And lost. The SoftBank Founder reportedly cut a loss of $130 million of his own money by mis-timing the historic cryptocurrency bubble in late 2017. It is not known exactly how much Masayoshi Son, worth an estimated $24 billion, poured into bitcoin. But he appears to have bought in late 2017 as the...

Why Uber's Largest Investor Just Plowed Almost $1 Billion into Autonomous Vehicle Startup Nuro

softbank uber nuro

SoftBank has a lot of faith in a startup called Nuro that wants to use autonomous vehicles to disrupt the grocery delivery space. Nuro just banked almost $1 billion from the multinational holding conglomerate to make that happen. Major Uber Shareholder Throws $940 Million at Autonomous Vehicle Creator The Japan-based SoftBank -- best known as Uber's largest shareholder -- is investing $940...

Sony Shares Jump after Japanese Giant Announces Unprecedented ¥100 Billion Stock Buyback

Sony

Japanese conglomerate Sony will kick off a $910 million stock buyback program beginning next week, Reuters reports. The move will result in Sony buying a maximum of 30 million of its own shares. Consequently, the amount of the company’s outstanding shares will be reduced by 2.4%. According to a Bloomberg Intelligence analyst, Masahiro Wakasugi, Sony’s move was likely driven by the company stock’s...

Softbank CEO is $5 Billion Richer after Masterminding Company's Biggest-Ever Stock Buyback

Another day, another $5 billion in the purse for SoftBank’s Chief Executive Officer Masayoshi Son. The Japanese business mogul saw a boost to his net worth after he maneuvered the biggest stock buyback in his company’s history. On Wednesday, shares of the SoftBank Group surged after Son announced that the firm would be initiating a stock buyback following the favorable financial performance it...

Boston Dynamics, Maker of Scary Fast Robots, Raises $37 Million from Uber's Biggest Shareholder; Sales to Begin in 2019

Boston Dynamics

The next 12 months might be the period when the dreaded “robot apocalypse” swings into effect, as Japanese-based SoftBank, has reportedly invested an additional $37 million into next-generation robotics company Boston Dynamics. Boston, which was founded in 1992 out of the Massachusetts Institute of Technology (MIT), was acquired by SoftBank in July 2017 from Alphabet, the parent company of...

WeWork CEO Profits in Millions as 'Landlord' from $47 Billion Startup: Report

According to a report by the Wall Street Journal , co-working service provider WeWork Co. has reportedly been renting spaces in buildings owned by its CEO Adam Neumann. The report noted that the arrangement has already seen the company owner net millions of dollars. The company model employed by WeWork involves getting office space leases and then subleasing smaller units to startups, individuals...

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