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Few fortunes are as volatile as Masayoshi Son’s.
The SoftBank Group Corp. founder was briefly richer than Bill Gates at the start of the century before tech stocks crashed. In March 2020, as markets sank under Covid-19 and questions swirled over SoftBank’s investments, his wealth dipped to $8.4 billion, the lowest since 2016.
Less than a year later, Japan’s second-richest person has more than quadrupled his fortune to $38 billion, according to the Bloomberg Billionaires Index, hitting the highest level since Bloomberg started tracking billionaire wealth in 2012.
The surge is closely tied to the rally in SoftBank shares, which represent more than 95% of his net worth and have climbed almost fourfold from a low at the worst of the pandemic-fueled selloff. The Vision Fund the world’s largest investment pool for tech startups posted its best quarterly profit, while SoftBank sold assets, bought back stock and settled a legal dispute with WeWork Cos. It’s also gathered sup
Masayoshi Son s billions multiply on SoftBank mega-rally and SPAC boom japantimes.co.jp - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from japantimes.co.jp Daily Mail and Mail on Sunday newspapers.