SoftBank’s Masayoshi Son bets on ride-hailing industry, despite scepticism
Analysts believe the Japanese tycoon, who has huge stakes in the industry, will multiply his stock after further automation
Tokyo — As Uber Technologies prepares for its mammoth initial public offering later this week, no one has more on the line in the ride-hailing business than Masayoshi Son. The Japanese entrepreneur has bet $18bn on the sector by taking stakes in the US pioneer and three similar startups. So what are his potential returns? Many of Son’s own investors at SoftBank Group are sceptical. But one analyst crunched the numbers to find plenty of promise: he figures Son has already made close to $9bn on paper, with a lot more upside if his portfolio companies can realise their vision for robot taxis and artificial intelligence. SoftBank’s stakes in Uber, China’s Didi Chuxing, Southeast Asia’s Grab and India’s Ola are worth between $22.1bn and $26.5bn, according to Chris Lane, an analyst at Sanford C Bernstein & Co. The calculation is part of a 27-page report issued on Wednesday and is based on the price-to-sales valuations of Uber and rival Lyft. Son sees the combination of hitching rid...
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