SoftBank Group Corp. founder and CEO Masayoshi Son reportedly has a 300-year plan, which could be genius but is probably just irrational.
Son made billions with his early Alibaba investment, but his first big Vision Fund bet, Uber, isn't doing so well in the early going, CNBC explains.
Son seems to have undercut his Uber bet it in part by making investments in competitors, CNBC said.
To be sure, Softbank is also considering listing the Saudi-backed Vision Fund, which has invested roughly $80 billion in around 80 tech firms, a source told Reuters last week.
Son said earlier this month he plans to announce a second Vision Fund soon, adding that initially SoftBank will likely be the only investor, Reuters explained. The fund would be a similar size to the original Vision Fund, Son said, adding that many investors around the world have expressed interest in participating.
The value of Vision Fund’s investments in 69 companies had risen to $72.3 billion by end-March, from their $60.1 billion acquisition cost, driven by gains at companies like Uber and Indian hotels startup OYO, SoftBank said earlier in May.
Son’s 300-year plan reportedly hinges on cloning, 200-year-old human beings and telepathy.
SoftBank’s website also alluded to that 300-year plan: SoftBank aims “to continue to grow as a corporate group for the next 300 years. The SoftBank Group strives to develop over the long-term by forming partnerships with the most superior companies at the time in the information industry, without adhering to particular technologies or business models.”
“SoftBank thinks longer term and bigger,” Brandless Co-founder and CEO Tina Sharkey wrote in a Medium post after accepting Vision Fund money as part of a $240 million funding round for her online retailing company.
To be sure, SoftBank Group earlier this month announced a stock split while keeping the per-share dividend unchanged for the year, effectively doubling its shareholder payout, Reuters said.
"Is Son a genius or insane? Maybe he’s just a really ambitious guy with a passion for taking business risks," CNBC concluded.
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