Wednesday , September 26 2018

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.’”

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