Masayoshi Son, the billionaire founder and chief executive officer of Japan’s SoftBank, said Monday he is not turning his back on investments with Saudi Arabia.
Masayoshi Son, the billionaire founder and chief executive officer of Japan’s SoftBank, said Monday he is not turning his back on investments with Saudi Arabia, despite the murder of Washington Post journalist Jamal Khashoggi.
SoftBank, which has stakes in Sprint and Uber among other U. S. companies, is one of the world’s biggest investors in technology through what’s known as its Vision Fund. The fund has $100 billion, around half of it from Saudi Arabia, and houses stakes in a number of start-ups as well as companies such as WeWork and Slack.
“These funds are important to the Saudi people in ensuring their economy diversifies and is no longer dependent on oil,” said Son during the company’s earnings call on Monday, speaking of Saudi Arabia’s rebranding into a hub of international business, finance, and technology to fulfill the needs of the kingdom’s young population.
“It is true that a horrible incident happened,” he noted. “On the other hand, we have a responsibility towards the Saudi people, and we must carry out our responsibility rather than turn our backs on them.
