In recent years, you may often hear a message, that is, how much money did Son lose?
For example, in 2019, Son's SoftBank lost $8.8 billion, which was already said to be a huge loss at that time. But now, this is where it is, it is just the beginning.
In 2021, Masayoshi Son lost 1.7 trillion yen (approximately US$13.12 billion), while SoftBank's net loss in the first quarter of 2022 was 2.1 trillion yen (approximately RMB 110.8 billion). In the second quarter of 2022, SoftBank lost more than US$23 billion (approximately RMB 155 billion).
Recently, SoftBank released another third-quarter financial report. Data shows that the net profit of SoftBank Group was 3.03 trillion yen, which seemed to turn losses into profits, but in fact, why is profitable? Masayoshi Son sold Alibaba stocks to make up for the big holes in order to make the numbers look good.
In this quarter, SoftBank sold Alibaba shares a total value of 5.37 trillion yen (approximately RMB 271.6 billion). Without this part of the revenue, SoftBank would lose another huge 2.34 trillion yen (about 117.5 billion yuan) this quarter.
is calculated in this way. In the first three quarters of this year, SoftBank actually lost nearly 400 billion yuan, the highest in history.
Why does SoftBank lose so much? The main thing is that Vision Fund has suffered a lot this year.
In the past, Masayoshi Son's investment logic was that as long as the company was in a hot spot, it would invest a lot of money, use money to pile up the other party into a unicorn as soon as possible, and then promote listing, and finally monetize arbitrage.
Moreover, Masayoshi Son's investment is still a wide-spread net, investing all the world-renowned and promising companies, and then buying them at the most expensive price.
In the early years, the global technology carnival was in full swing. Masayoshi Son's approach made SoftBank make a lot of money. After all, as long as one of the companies successfully went public, it may be a few times or even dozens of times the return. The bigger the bet, the more you make.
But after 2020, this approach will not work, because of the impact of the external environment, the epidemic, etc., the technology and the Internet industry are crazily squeezing bubbles.
Vision Fund has invested in many companies, and in the past two years, the valuation/market value has dropped sharply, and even fell below the price of the investment. For example, the more than 300 companies invested in Vision Phase II have made money, but few of them are losing money.
But the situation in the entire technology industry has not improved now, so after investing in the Vision Fund of these companies, we can only watch the valuations of the companies they invest in, and then the more they lose, the more they lose.
Although Vision Fund has now contracted its front line and has become more stable and no longer taken action, the companies that have invested in before are still losing money, so Masayoshi Son must not sell Alibaba's stocks in tears to fill the hole. But I don't know how big the hole is and how much more it needs to be sold to fill it?
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