SoftBank founder loses out on big bets on tech stocks
Holding company loses about $9bn of market value as share price tumbles
07 September 2020 - 16:52
Tokyo — Just when investors thought Masayoshi Son was reining in risk at SoftBank Group, the Japanese billionaire’s foray into leveraged derivatives is giving them extra reason to worry.
SoftBank’s share price fell 7.2% on Monday in Tokyo, erasing about $9bn of market value. The drop came after the conglomerate made huge bets on high-flying tech stocks using equity derivatives and despite a report that it has billions in paper gains...
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