TOKYO—SoftBank Group Corp. said it lost at least $4.7 billion on U.S. office-sharing company WeWork, an investment Chief Executive Masayoshi Son called an error in judgment.
SoftBank marked down the total value of WeWork’s equity to $7.8 billion, a long way from the startup’s $47 billion valuation before its attempt to go public backfired amid widespread skepticism about its profitability and management.
Source: News Formal (newsformal.com)
But what about Zuckerberg? His actual right is more than 50%, and survived from a trouble. And Mahuateng of Tencent, his investors give up all rights.
He did a deal with him after taking a car ride, so…..not the best “gut” decision.
Since they are a group, and if raise more, his percentage would drop, so the number is dynamic, always 1%, such as 57,42; 54, 45.
If there is some problem with the CEO, may add a rule to change.
👇
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:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SoftBank to tighten governance at start-ups after WeWork debacle: FTSoftBank Group Corp is expected to outline tougher governance standards... Jajajaja pobres japoneses Maybe do it before your huge public failure. Probably need a new CEO 🤣
Source: Reuters - 🏆 2. / 97 Read more »
SoftBank Takes Loss of $4.7 Billion on WeWork InvestmentSoftBank marked down the total value of the company’s equity to $7.8 billion and hasn’t factored in its bailout of the office-sharing company. WeWork will be the bane and beginning of end for Masayoshi...nothing makes sense in this 'investment'...only 'fraud'. Should fire it’s ceo and entire leadership. 4.7bil.. Well that's a lot.
Source: WSJ - 🏆 98. / 63 Read more »
'We created a monster,' SoftBank CEO Masayoshi Son reportedly said of WeWorkSoftBank is expected on Wednesday to impose stricter governance standards for dual-class structures after the WeWork troubles, the Financial Times said. HiighBeta Sir, Please acknowledge 'Oyo' too. Regards.
Source: BusinessInsider - 🏆 729. / 51 Read more »
SoftBank Takes Loss of $4.7 Billion on WeWork InvestmentSoftBank marked down the total value of the company’s equity to $7.8 billion and hasn’t factored in its bailout of the office-sharing company. WeWork will be the bane and beginning of end for Masayoshi...nothing makes sense in this 'investment'...only 'fraud'. Should fire it’s ceo and entire leadership. 4.7bil.. Well that's a lot.
Source: WSJ - 🏆 98. / 63 Read more »
SoftBank Group plunges to $6.5 billion quarterly loss as tech bets stumbleSoftBank Group Corp plunged on Wednesday to a quarterly loss that was f... no worries still plenty of free money out there That loss is from propping up WeWork!
Source: Reuters - 🏆 2. / 97 Read more »