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Home / Business / SoftBank Grants Up to $ 20 Billion to Employees to Invest in New Funds: WSJ

SoftBank Grants Up to $ 20 Billion to Employees to Invest in New Funds: WSJ



The founder, chairman and CEO of the SoftBank group, Masayoshi Son, announced the results of his group on May 9, 2019 in Tokyo.

Alessandro Di Ciommo | OnlyPhoto | Getty Images

Japanese SoftBank Group Corp plans to lend up to $ 20 billion to its employees, including Masayoshi Son, to purchase shares in its second Vision Fund, the Wall Street Journal reported on Saturday.

The son himself could account for more than half of this amount, the Journal reported, adding that executives believe that such a move will bring employees more to account, as the Fund's investments may be canceled if a manager The loans are likely to have an interest rate of about 5%, the WSJ said, citing a source.

The Kazakh government, an investor in the fund, is expected to do so by contributing about $ 3 billion, while banks such as the Goldman Sachs Group, the British Standard Chartered and the Japanese Mitsubishi UFJ Financial Group also report willing to spend several hundred million US dollars each

SoftBank is discussing with many pension and insurance companies, including in Taiwan, total investments that it hopes will exceed $ 30 billion, the WSJ reported.

SoftBank was not immediately available for comment on Saturday.


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