Japanese billionaire Masayoshi Son, the founder of Japanese conglomerate SoftBank, personally lost over $130 million when he sold his position in bitcoin, the Wall Street Journal reported on Tuesday.
Japanese billionaire Masayoshi Son, the founder of conglomerate SoftBank, personally lost over $130 million when he sold his position in bitcoin, the Wall Street Journal reported on Tuesday.
div > div.group > p:first-child"> Son made the investment in late 2017 the report said, near the digital currency's record high near $20,000 in December of that year. Bitcoin has traded around $5,000 in recent weeks. While it is unknown exactly how much bitcoin Son bought, he sold early last year after the speculative digital currency's value collapsed.
The move reportedly followed Son receiving a recommendation by a"bitcoin evangelist." SoftBank had bought the investment firm of that person earlier in the same year, the report said. Despite his reputation as a keen investor, the bet on bitcoin is not the first such quick, risky bet by Son. He is known widely as someone who will make multi-million dollar investments in companies after only spending a short time with founders and CEOs.
SoftBank is the largest venture capital firm in the world, with a total net asset value estimated as high as $190 billion. Son's focus on long-term investments in tech companies helped him lead the $100 billion SoftBank Vision Fund, with stakes in Uber, Nvidia, Flipkart, WeWork, OneWeb and more.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
SoftBank Founder Masayoshi Son Lost $130 Million on BitcoinMasayoshi Son, the billionaire founder of SoftBank, made a huge personal bet on bitcoin just as prices for the digital currency peaked, losing more than $130 million when he sold out, according to people familiar with the matter.
Weiterlesen »
How Mueller used Bitcoin to catch RussiaRussian operatives used cryptocurrency at almost every stage in their online efforts to interfere in the 2016 US presidential election, according to special counsel Robert Mueller's final report on his investigation
Weiterlesen »
Beyonce's Netflix deal reportedly worth $60 million - Reuters TVNetflix struck a three-project deal with Beyonce worth $60 million, according to Variety.
Weiterlesen »
National Enquirer reportedly sold for $100 millionThe supermarket tabloid National Enquirer has reportedly been sold to the scion of a company known for its newsstands at airports across North America.
Weiterlesen »
China's Stock Market Gets Tired, As Xi Jinping Looks To Be Losing His Housing BattleChina's non-stimulus stimulus is working. But has it peaked? Meanwhile, value investors like the recent decline in A-share pricing.
Weiterlesen »
China's Stock Market Gets Tired, As Xi Jinping Looks To Be Losing His Housing BattleIt's been a good run for China's A-shares, the best performing emerging market asset class this year. But mainland China stocks are getting tired—and investors are cashing out
Weiterlesen »
Balyasny loses a quant portfolio manager as the manager gets its footing after a disappointing 2018Paul Chambers joined Balyasny's London office at the end of 2017, after roughly a decade at Man Group. He is now returning to Man Group less than two years later, sources say.
Weiterlesen »
China's Stock Market Gets Tired, As Xi Jinping Looks To Be Losing His Housing BattleChina's non-stimulus stimulus is working. But has it peaked? Meanwhile, value investors like the recent decline in A-share pricing.
Weiterlesen »
Here's how advertisers are getting tech companies to clean up their act or risk losing billionsRaja Rajamannar talks about the World Federation of Advertisers' call for brands to 'hold platforms to account.'
Weiterlesen »
Five million lost jobs in India between 2016 and 2018: reportAt least five million Indians lost their jobs between 2016 and 2018, and young u...
Weiterlesen »