SoftBank's Big Bets Start to Pay Off With $3.8 Billion Uber Gain

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SoftBank's Big Bets Start to Pay Off With $3.8 Billion Uber GainThe Japanese billionaire’s SoftBank Group Corp. reported operating income that more than tripled in the three months to March 31 to 494.9 billion yen ($4.5 billion), helped by a 418 billion yen gain on Uber Technologies Inc. SoftBank and its Vision Fund are the largest shareholders in the U.S. ride-hailing giant, which is going public this week at a market value that may reach $79 billion. Son has been remaking SoftBank Group from a telecommunications operator into a technology investment firm, and his $100 billion Vision Fund has already emerged as an unprecedented force in the industry. Son, who made -- and then lost -- a fortune in the dot-com bubble, says it’s finally the right time for his deals to pay off.


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