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SoftBank Lends Up To $ 20 Billion to Employees to Invest in New Fund: WSJ



SoftBank founder, chairman and CEO Masayoshi Son announces its group's earnings results on May 9, 2019 in Tokyo.

Alessandro Di Ciommo | NurPhoto | Getty Images

Japanese company SoftBank Group Corp. plans to release up to $ 20 billion to its employees, including CEO Masayoshi Son, to buy shares in its second Vision fund, the Wall Street Journal reported on Saturday, citing people, familiar with the matter.

The son himself may represent more than half that amount, The Journal reported, adding that executives believe such a move would make employees more responsible, as the fund's investments could be canceled if the manager leaves or is There are

loans likely to have an interest rate of about 5%, the WSJ said, citing a source.

The government of Kazakhstan, an investor in the fund, is expected to contribute about $ 3 billion, while banks like Goldman Sachs Group, British Standard Standard and Japan's Mitsubishi UFJ Financial Group have also indicated that they are ready to invest several hundred million dollars each, according to the report

SoftBank is discussing with many pensions and insurers, including in Taiwan, about total investments that are hoping to exceed $ 30 billion, the WSJ reported.

SoftBank was not immediately available for comment on Saturday.


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