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SoftBank's big bet on listed tech stocks cost it $1.3 billion

Nov 09, 2020 - CNN
Board and Executive Moves-Financial Results

HONG KONG (CNN Business) -- Billionaire tycoon Masayoshi Son's huge bets in recent months on listed tech stocks didn't pay off.

SoftBank, the Japanese conglomerate founded by Son, on Monday posted losses of 131.7 billion yen ($1.3 billion) "from investment in listed stocks and other instruments" for the six months ended in September.

The Wall Street Journal and the Financial Times reported on Son's big bets in September. The Journal said that SoftBank had bought roughly $4 billion...