Masayoshi Son

SoftBank committed a further $30 billion to OpenAI in February 2026, bringing expected cumulative investment to $64.6 billion for approximately 13% of its equity. In March, the group arranged an unsecured $40 billion bridge facility principally to finance the transaction. The concentration and use of debt prompted increased scrutiny of financial risk.

State of the evidence

Documented

Attribution

Direct responsibility

Ritesh Agarwal obtained a loan of approximately $2.2 billion in 2019 to increase his stake in Oyo, personally guaranteed by Masayoshi Son. In 2025, the terms of the restructured loan continued to affect the timetable for a possible Oyo IPO, while SoftBank pushed for a delay to the listing.

State of the evidence

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Personally implicated

By early 2025, Vision Fund 2 still had approximately $22.2 billion in cumulative losses since 2019, and SoftBank reported a quarterly net loss of approximately $2.4 billion, even as Son returned to a strategy of major investments focused on artificial intelligence.

State of the evidence

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Direct responsibility

The UK litigation concerned losses in a Credit Suisse fund relating to Greensill receivables involving SoftBank-backed Katerra. Credit Suisse/UBS sought approximately $440 million and alleged that SoftBank had influenced a restructuring to the detriment of creditors.

State of the evidence

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In 2025, SoftBank announced up to $40 billion in additional investment in OpenAI, with an expected net amount of up to $30 billion after syndication, while Son became chairman of Stargate, an AI infrastructure project announced at $500 billion over several years. The scale and concentration of this shift reignited debate over the risk of new 'all-or-nothing' investments.

State of the evidence

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Attribution

Direct responsibility

Son personally held interests in Vision Fund 2, the Latin American fund and SB Northstar, arrangements designed as performance-linked remuneration. Following valuation declines, his deficit owed to SoftBank was estimated at approximately $4.7 billion in late 2022 and $5.1 billion in early 2023, reviving criticism of the overlap between personal and corporate interests.

State of the evidence

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Attribution

Personally implicated

In 2023, SoftBank recorded further substantial losses linked to WeWork before the company filed for Chapter 11 protection. The case illustrated the long financial aftermath of the investment initiated and reinforced by Son several years earlier.

State of the evidence

Documented

SoftBank used SB Northstar to purchase tens of billions of dollars in technology shares and build options positions, prompting a strong investor reaction and the nickname 'Nasdaq Whale'. The group subsequently reduced those positions. In 2022, SoftBank reported that Northstar had accumulated losses of ¥746.2 billion since launch.

State of the evidence

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Attribution

Direct responsibility

SoftBank agreed to sell Arm to Nvidia in a transaction valued at approximately $40 billion. The US FTC sued to block the acquisition, citing competition risks, while other authorities also reviewed it. The parties ultimately abandoned the transaction in February 2022.

State of the evidence

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Direct responsibility

In May 2022, SoftBank announced a record $26.2 billion Vision Fund loss; in the following April–June quarter, the fund lost a further $23.1 billion. Son acknowledged that the fund had invested at bubble valuations, promised to go 'on defence' and announced staffing and cost reductions.

State of the evidence

Documented

Attribution

Direct responsibility

The Carter and Won actions targeted Masayoshi Son, Adam Neumann, SoftBank and former WeWork directors, alleging breaches of fiduciary duties or assistance in such breaches linked to certain WeWork transactions.

State of the evidence

Allegations

Attribution

Accused

On the eve of Greensill Capital's collapse, SoftBank's Vision Fund had written down almost all of its $1.5 billion investment in the supply-chain finance company. The case became another symbol of the fund's risks in high-growth businesses with disputed governance.

State of the evidence

Documented

SoftBank Group underreported approximately ¥40 billion in income for the financial year ending March 2019, notably because of accounting periods, foreign-currency debt conversions and income from overseas affiliates, and was required to file amended returns.

State of the evidence

Documented

SoftBank and the Vision Fund invested heavily in WeWork before its IPO failed, forcing SoftBank to arrange a rescue package worth approximately $9.5 billion. Son publicly acknowledged that he had misjudged WeWork and Adam Neumann. SoftBank's cumulative investments in WeWork reached approximately $16 billion over the years.

State of the evidence

Admitted by the person

Attribution

Direct responsibility

The Vision Fund recorded a loss of approximately $8.9 billion in the quarter ending September 2019, notably following setbacks at WeWork and Uber. Son acknowledged investment mistakes and promised stricter selection and governance discipline.

State of the evidence

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Attribution

Direct responsibility

Saudi sovereign wealth fund PIF contributed approximately $45 billion to the first Vision Fund, nearly half of its capital. Following Jamal Khashoggi's murder, this dependency was perceived as a major risk for SoftBank; Son cancelled a speaking engagement at a Saudi investment conference and had to defend continued financial ties publicly.

State of the evidence

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Attribution

Direct responsibility

After months of lobbying, SoftBank-controlled Sprint abandoned its planned acquisition of T-Mobile US in the face of persistent regulatory opposition. Son presented the consolidation as essential for competing with AT&T and Verizon, making its failure an unusual personal and strategic setback.

State of the evidence

Documented

Attribution

Directly implicated

SoftBank BB confirmed a leak of personal information concerning 4,517,039 people in the Yahoo! BB case. The company established an investigative committee reporting directly to president and CEO Masayoshi Son and imposed a 50% salary reduction on him for six months in recognition of managerial responsibility.

State of the evidence

Documented