SoftBank's Masayoshi Son cleaves to guts-led investing in chat with Alibaba's Jack Ma

  • 📰 BusinessTimes
  • ⏱ Reading Time:
  • 51 sec. here
  • 2 min. at publisher
  • 📊 Qulity Score:
  • News: 24%
  • Publisher: 51%

Read more at The Business Times.

Singapore Headlines News

Singapore Latest News, Singapore Headlines

Weeks after his billion-dollar bailout of WeWork, SoftBank Group Corp's founder and CEO Masayoshi Son reiterated his belief in an instinct-led investing style, in a discussion with Alibaba Group Holding Inc's co-founder Jack Ma.[TOKYO] Weeks after his billion-dollar bailout of WeWork, SoftBank Group Corp's founder and CEO Masayoshi Son reiterated his belief in an instinct-led investing style, in a discussion with Alibaba Group Holding Inc's co-founder Jack Ma.

SoftBank owns 26 per cent of China's Alibaba with its origin in a US$5 million investment in 2000, and the stake is now worth more than the Japanese firm's market capitalisation. Mr Son on Friday said the decision to invest in Alibaba was driven by gut feeling. Other entrepreneurs Mr Son met at that time"did not have true belief in their heart"."I can feel," Mr Son said."We are the same animal. We are both a little crazy," he said of long-time ally Mr Ma.

Mr Ma said Mr Son initially tried to invest US$50 million in the e-commerce firm, but that he declined saying it was too large a sum - part of a pattern of offering big cheques to company founders that continued with WeWork co-founder Adam Neumann.Mr Son's comments come weeks after he was forced to bail out office-sharing startup WeWork when Mr Neumann's level of control over his firm and hard-partying ways chilled investor appetite and crashed plans for an initial public offering .

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 15. in SG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

SoftBank's Son cleaves to guts-led investing in chat with Alibaba's MaWeeks after his billion-dollar bailout of WeWork, SoftBank Group Corp's founder and CEO Masayoshi Son reiterated his belief in an instinct-led ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

SoftBank will have 'last laugh' with WeWork deal: analystSoftBank will have 'last laugh' with WeWork deal: analyst
Source: BusinessTimes - 🏆 15. / 51 Read more »

Exclusive: Alibaba-backed startup AutoX applies for driver-less test permit in CaliforniaREUTERS: Chinese startup AutoX, backed by e-commerce giant Alibaba, has applied to test self-driving vehicles without an in-car backup driver in ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Arsenal interim boss Ljungberg plans Pepe pep talkArsenal's interim coach Freddie Ljungberg says he will have a chat with Nicolas Pepe to help the Ivorian forward feel more settled after his club ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Football: Arsenal interim boss Ljungberg plans Pepe pep talkArsenal's interim coach Freddie Ljungberg says he will have a chat with Nicolas Pepe to help the Ivorian forward feel more settled after his club ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Virtual boyfriends a match for China's single womenChinese teen Robin spends hours online chatting to her man, who always has a sympathetic ear for her problems - as long as she's willing to pay him.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »