TOKYO (Reuters) – SoftBank Group Corp (9984.T) CEO Masayoshi Son on Monday pinned his hopes on a small group of “winged unicorns” to save the performance of his $100 billion Vision Fund – although he gave few clues on which ones they would be.
FILE PHOTO: Japan’s SoftBank Group Corp Chief Executive Masayoshi Son bows his head after his presentation at a news conference in Tokyo, Japan, Nov. 5, 2018. REUTERS/Kim Kyung-Hoon/File Photo
Announcing a record annual loss for his tech conglomerate, and an $18 billion shortfall at the Saudi-backed Vision Fund, Son told an earnings presentation on Monday that tech unicorns had plunged into the “valley of the coronavirus”.
But he said a smaller number of the tech companies would make it and could eventually account for 90% of the value of the portfolio.
He showed a slide where cartoon unicorns were falling down a hole as a lone winged unicorn flew to safety on the other side.
The 62-year-old businessman offered few clues as to which of…
Source Reuters Tech News
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