Table of Contents
How did Adam Neumann meet Masayoshi Son?
Adam Neumann met Masayoshi Son in January 2016, when Neumann flew to India for a start-up conference hosted by Prime Minister Narendra Modi.
How did SoftBank raise so much money?
In 2000, SoftBank made its most successful investment – $20 million to a then-fledgling Chinese Internet venture called Alibaba. This investment turned into $60 billion when Alibaba went public in September 2014.
How did Masayoshi Son start SoftBank?
His first business endeavours began as a student. With the help of some professors, Son created an electronic translator that he sold to Sharp Corporation for $1.7 million. He made another $1.5 million by importing used video game machines from Japan, on credit and installing them in dormitories and restaurants.
Does SoftBank still own WeWork?
SoftBank holds about 65\% of the equity in WeWork, but capped its voting position at 49.9\% in order to avoid consolidating the company with its financial results. An investor presentation on the BowX deal shows that current WeWork holders will hold an 82.7\% stake after the offering.
Who invested in SoftBank Vision Fund?
The Softbank Vision Fund was created in May 2017 by the Softbank Group and the Public Investment Fund (PIF). $100 billion was raised with PIF contributing $35 billion, SoftBank contributing $28 billion, the Mubadala Investment Company contributing $15 billion and the rest from other investors including Apple.
What is Masayoshi Son investing in?
Investors in Son’s Vision Fund include Apple, Qualcomm, Foxconn, the family office of billionaire Larry Ellison and Saudi Arabia’s sovereign fund. The Vision Fund has invested in over 100 companies, including ride-share firm Grab, Korean ecommerce leader Coupang and India’s Paytm.
Neumann still owns about 11\% of WeWork, worth more than $850 million including the profits interests. He isn’t able to sell those shares for nine months.
Is SoftBank CEO Masayoshi Son’s perception of WeWork’s Adam Neumann off?
Over $9 billion of the $100 billion war chest was pumped into WeWork. To date, SoftBank CEO Masayoshi Son has been outwardly supportive of WeWork and its former CEO Adam Neumann. But in a new interview, Son admitted his perception of the company — and of Neumann himself — may have been off.
How much did SoftBank invest in WeWork?
SoftBank first committed $3.1 billion in new funding to WeWork in 2017. “Neumann has told others that Son appreciated how he was crazy–but thought that he needed to be crazier,” according to the Journal. Why did Masayoshi Son want to believe in WeWork?
Who is Masayoshi Son and what is SoftBank?
He was in greater Noida, India, giving a speech about solar power. The day was hot, in the mid-90s, and for Son, CEO of the Japanese telecom conglomerate SoftBank, particularly bright. His visions for SoftBank—to be at the vanguard of technology and AI investing—had captivated the global capital world.
Will SoftBank’s $100 billion war chest lose billions on WeWork?
That fund — which exists to make high-risk, potentially high reward bets — is likely to lose billions on WeWork. Over $9 billion of the $100 billion war chest was pumped into WeWork. To date, SoftBank CEO Masayoshi Son has been outwardly supportive of WeWork and its former CEO Adam Neumann.