SoftBank has duty to Saudi citizens, says CEO Masayoshi Son
The murder of Jamal Kashoggi has not persuaded the tech giant to return Saudi Arabia’s investment in its Vision Fund
Tokyo — SoftBank CEO Masayoshi Son has condemned the killing of journalist Jamal Kashoggi by Saudi security personnel, and said his firm must continue to carry out its responsibility to Saudi Arabia’s citizens whose money is invested in its Vision Fund. Saudi Arabia is the largest investor in the fund, which was launched last year with more than $90bn in capital, giving Son firepower to make big bets in late-stage startups such as shared office space provider WeWork Cos and hotel chain OYO hotels. Global outcry over the murder case, however, has led many observers to regard that dependence as a risk to SoftBank’s plans to raise further funds. “These funds are important to the Saudi people in ensuring their economy diversifies and is no longer dependent on oil,” Son said on Monday. “It is true that a horrible incident happened. On the other hand, we have a responsibility towards the Saudi people, and we must carry out our responsibility rather than turn our backs on them.” Son was pr...
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