Tuesday , December 12 2017

SoftBank’s Son bounces back after losing $70bn

Bloomberg

At the height of the dot-com bubble in late 1999 and early 2000, Masayoshi Son’s net worth was surging by $10 billion a week. For three days, he was the richest person in the world, Son said.
But before Son had a chance to tell anyone, SoftBank Group
Corp. crashed.
The company’s shares plunged 75 percent in two months and were 93 percent lower at the end of 2000. The business almost went bankrupt. Son lost much of his wealth.
“Somehow, I survived,” Son said in an interview on “The David Rubenstein Show: Peer-to-Peer Conversations.” “At that time, I said, ‘Now is the time to go next stage, which is the internet will become mobile internet.’”

About Admin

Check Also

epa02509955 The logo of China Telecom adorns its headquarters in Beijing, China 30 December 2010. China Telecom is one of the world's largest telecom companies but remains led by state control, typical of the behemoths of state capitalism that dominate China's current economic structure.  EPA/ADRIAN BRADSHAW

China Telecom studies Philippines entry after president Duterte’s offer

Bloomberg China Telecommunications Corp. is studying an investment in the Philippines after President Rodrigo Duterte ...

Leave a Reply

Your email address will not be published. Required fields are marked *