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Softbank Announces Record $55 Billion Profit, Holds 224 Portfolio Companies
13th May 2021 | Hong Kong
SoftBank Group, one of world’s largest conglomerate and technology investment company founded by Masayoshi Son, has announced a record annual profit of $55 billon, including $24.5 billion net profit from Coupang, South Korea’s largest E-commerce giant that IPO on NYSE (New York Stock Exchange) in March with a market value of $84 billion in March 2021.
At the end of March 2021, SoftBank Group has a portfolio of 224 companies. In the press conference of SoftBank’s earning briefing for FY2020, Masayoshi Son announced that SoftBank will continue to be a “producer of golden eggs” but also expresses “regrets over missed opportunities.
SoftBank is founded in 1981 by then-24-year-old Masayoshi Son as a distributor of computer software. Today, SoftBank is one of the largest conglomerate, technology and investment company in the world with a range of businesses including SoftBank, Sprint, Yahoo Japan and the SoftBank Vision Fund with over $100 billion in capital.
Masayoshi Son is the richest man in Japan, and a billionaire with a personal net worth of around $40 billion.
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