SoftBank’s Vision Fund posts $8bn profit in record quarter
Value of investments surges driven largely by stakes in Uber and DoorDash
08 February 2021 - 18:51
Tokyo — SoftBank reported a record profit in its Vision Fund as a surging stock market lifted the value of its portfolio companies, but founder Masayoshi Son wiped out a significant chunk of those gains with his controversial trading in derivatives.
The Vision Fund reported a ¥844.1bn ($8bn) profit in the December quarter, surpassing record numbers set just a quarter earlier. A global rally in technology shares has boosted the value of SoftBank’s stakes in publicly traded firms such as Uber Technologies and paved the way for initial public offerings from the likes of DoorDash...
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