Son(pic) also has a track record of big scores: the $20 million he put into China’s Alibaba Group Holdings in 2000 is now worth more than $100 billion, for example. Most analysts rateSoftBank Group a buy and say it still has borrowing capacity, and its majority-owned telecom and internet media unit throws off healthy profits.
Son is still determined to go ahead with Vision Fund 2 even though some lieutenants have urged a delay, the two people with knowledge of SoftBank’s internal discussions told Reuters. But it is likely to be far smaller, at least at the outset, than the $108 billion that SoftBank said it had lined up when it announced the fund in July, these people said.
Major investors have yet to sign on, leaving a $38 billion pledge from publicly traded SoftBankGroup itself as the only large commitment, according to the sources. And the size of that pledge may itself be in doubt given some of the recent investment setbacks it has suffered and the lack of available cash on its balance sheet, according to a Reuters analysis.
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