- Tram Ho
In a speech to shareholders on June 24, Masayoshi Son shared about his departure from the Board of Directors of Alibaba, China’s largest trading giant. The Japanese billionaire says he has “graduated” from the most successful investment deal of his life.
According to Son, he left the Alibaba Board of Directors as soon as Jack Ma, the founder of Alibaba, left the SoftBank board of directors. However, the Japanese billionaire insisted that there was no disagreement between him and Jack Ma. Alibaba is currently valued at $ 600 billion. It was invested by SoftBank very early. The Chinese e-commerce giant is still the jewel in SoftBank’s portfolio, something emphasized by billionaire Son.
In this meeting with shareholders, Masayoshi Son retains the traditional style. He continues to assert his belief in global digital transformation and the advent of AI. During the epidemic, these things do not decrease but also accelerate. TikTok of ByteDance Ltd., Alibaba’s e-commerce or Arm Ltd. chip design business. are the examples yet.
Once again, the founder continued to emphasize that the market is undervalued SoftBank. Specifically, the Japanese technology giant is worth 218 billion USD, twice as high as its current market price.
Billionaire Son also said that SoftBank is promoting the sale of T-Mobile US Inc shares to collect about 20 billion USD. It is part of a plan to raise 4,500 billion yen (about US $ 42 billion) to repurchase stocks and reduce debt for SoftBank.
Source : Genk