SoftBank founder Masayoshi Son loses $2.5bn due to 13% share drop and Bank of Japan interest rate hike.
SoftBank founder Masayoshi Son lost $2.5bn in two days due to a 13% drop in SoftBank Group Corp shares, triggered by the Bank of Japan's early interest rate hike. The tech conglomerate's international operations also face risk from a stronger yen, Japan's currency reaching a four-month high. Arm Holdings, majority owned by SoftBank, saw its shares fall 16% after failing to meet investor expectations with its annual sales forecast.
August 02, 2024
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