SoftBank's Saudi links may mean cash after purge
Steady flow of Saudi money into SoftBank Vision Fund will allow investments without adding to a heavy debt load and offer potential for investments to generate revenues
Tokyo
BILLIONAIRE Masayoshi Son may be getting closer to achieving his dream of making SoftBank Group Corp the world's biggest investor in technologies. The reason has to do with the main patron of Mr Son's US$100 billion investment plan, Saudi Arabia's Crown Prince Mohammed bin Salman.
The Saudi prince has been the largest investor in the SoftBank Vision Fund, contributing almost half of the money Mr Son has been raising to accelerate his dealmaking around the world. And since November, Prince Mohammed has been at the centre of an unprecedented purge of officials and political rivals in the oil-rich nation, leading to a consolidation of his power.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
UBS weighs synthetic risk transfer amid capital boost proposals
Money laundering accused Zhang Ruijin slapped with 5 more charges days before scheduled guilty plea
Japanese yen slides back towards 34-year low after brief spike
China’s Bank of Communications Q1 profit rises 1.44%
HSBC’s private bank shuts independent asset management business in HK, Singapore
Nomura Q4 net profit jumps almost eight-fold on retail income surge