SoftBank Poised to Reap $16 Billion Profit as Coupang Boosts IPO
Bloomberg 3/9/2021 Pavel Alpeyev
(Bloomberg) SoftBank Group Corp., the biggest shareholder in Coupang Inc., stands to reap an enormous windfall when the South Korean e-commerce leader goes public this week, giving founder Masayoshi Son further evidence his often-criticized startup bets are paying off.
The Japanese company owns about 35% of the startup and could report an unrealized gain of as much as $16 billion after Coupang raised the target price range for its initial public offering. That would be the SoftBank Vision Fund’s largest-ever startup profit booked in a single quarter since it began reporting results in 2017.
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The Bad Streak Continues for Tesla and Elon Musk: The Tycoon Lost $27 Billion in a Week
The Bad Streak Continues for Tesla and Elon Musk: The Tycoon Lost $27 Billion in a Week
Following Tesla s stock crash, Elon Musk s fortune has plummeted, widening the gap between SpaceX CEO and Amazon s Jeff Bezos.
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A few days ago,
Tesla shares reduced the assets of its CEO, who
lost nearly $ 27 billion in just one week.
Tesla s
stock price has plummeted for four days in a row. That s partly due to a sell off of tech stocks, and also a drop in the value of