Uber and WeWork contribute to investor’s $18bn loss
Vision Fund reports a staggering loss and SoftBank founder Masayoshi Son warns there may be yet more pain from the coronavirus crisis
18 May 2020 - 16:12
Tokyo — Japan’s SoftBank Group reported a stunning $18bn loss at its giant Vision Fund, pushing Masayoshi Son’s conglomerate to a record loss and highlighting the deepening crisis at its portfolio of companies from the global downturn.
The disastrous ¥1.9-trillion operating shortfall at the Saudi-backed Vision Fund, including losses of almost $10bn at office-sharing firm WeWork and ride-hailing app Uber Technologies alone, left SoftBank with its worst annual loss of ¥1.4-trillion...
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