SoftBank shares tank near 19%, wiping off $4.6 billion from founder Masayoshi Son's fortune
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SoftBank Group shares plunged nearly 19% on Monday amid a global market sell-off, erasing billions of dollars from its founder Masayoshi Son’s fortune. Son’s net worth fell by $4.6 billion on Monday alone. The sharp decline in SoftBank’s shares has led to a year-to-date increase of only 1.7%. The company’s value has diminished by approximately $28.3 billion since Wednesday’s market close. This drop follows a period of stock gains for SoftBank, largely driven by its Vision Fund division and the rising share price of Arm, a British chip designer that SoftBank owns a majority stake in.
