Masayoshi Son has now lost more than $4 billion (?532.4 billion) on a series of side deals he set up at SoftBank Group to boost his compensation, a painful blow triggered by the broad downturn in the technology market.
The Japanese billionaire took the unusual step of establishing personal stakes in a series of SoftBank ventures in recent years, a mixing of company and executive interests that drew the ire of investors. Son holds 17.25% of a vehicle set up under SoftBank¡¯s Vision Fund 2 for its unlisted holdings, as well as 17.25% of a unit within its Latin America fund, which also invests in startups. He has a 33% stake in SB Northstar, a vehicle set up at the company to trade stocks and derivatives.
Son has racked up a deficit of $2.1 billion from his Vision Fund 2 interest, and $205 million at the Latin America fund, according to disclosures for the June quarter. His cumulative loss at SB Northstar is ?274.6 billion. The amount Son owes SoftBank from his interests in Vision Fund 2 and the Latin America fund rose about $1.9 billion in the last quarter.
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