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Reuters reports how global tech empire dream unraveling for SoftBank’s Son

Reuters reports how global tech empire dream unraveling for SoftBank’s Son

SoftBank Group Corp founder Masayoshi Son’s dream of a global tech empire is unravelling, Reuters reported, with the coronavirus crisis compounding losses at his $100 billion Vision Fund and distress at his big bets portending more pain. More than half of the fund’s capital is in startups that are suffering from the virus impact or exhibiting stress pre-dating the outbreak, a Reuters analysis showed. Ride-hailing usage at flagship transport investments has fallen more than 50% and six SoftBank-backed startups have pushed IPO plans from this year to next.