SoftBank's Vision Fund tumbles to $18b loss amid coronavirus outbreak

Pedestrians walk past a SoftBank Group Corp. store in Tokyo, Japan. Photographer: Tomohiro Ohsumi

Japan’s SoftBank Group Corp reported a stunning $18 billion loss at its giant Vision Fund, pushing Masayoshi Son’s conglomerate to a record loss and highlighting the deepening crisis at its portfolio companies from the global downturn.

The disastrous 1.9 trillion yen ($18 billion) operating shortfall at the Saudi-backed Vision Fund, including losses of almost $10 billion at office-sharing firm WeWork and ride- hailing app Uber Technologies Inc alone, left SoftBank with its worst annual loss of 1.4 trillion yen.

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