Inside Masayoshi Son's eccentric, relentless deal-making spree
His idiosyncratic style confounds admirers and detractors: he presses founders to meet face to face, encourages them to take more money than they want and wields his outsized chequebook as a weapon
EARLY last year, Cheng Wei, founder and chief executive of the Chinese ride-hailing juggernaut Didi Chuxing, tried to resist taking money from legendary investor Masayoshi Son.
Mr Cheng told the SoftBank Group chief he didn't need the cash because his company had already raised US$10 billion, according to people familiar with the matter. Fine, Mr Son said, then suggested he might direct his support to one of Didi's rivals. Mr Cheng relented and took the investment: US$5 billion in the largest fundraising round ever for a tech startup.
Mr Son pulled a similar manoeuvre in November, publicly warning Uber Technologies that if he didn't get the deal he wanted, his backing would go to archrival Lyft. Uber also took the money in a US$9 billion investment unveiled last week.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Lifestyle
Former Zouk morphs into mod-Asian Jiak Kim House, serving laksa pasta and mushroom bak kut teh
Massimo Bottura lends star power to pizza and pasta at Torno Subito
Victor Liong pairs Aussie and Asian food with mixed results at Artyzen’s Quenino restaurant
If Jay Chou likes Ju Xing’s zi char, you might too
Mod-Sin cooking izakaya style at Focal
What the fish? Diving for flavour at Fysh – Aussie chef Josh Niland’s Singapore debut