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WeWork bankruptcy cost billionaire Son's SoftBank $11.5 billion
short by Ashley Paul / on Wednesday, 8 November, 2023
WeWork's bankruptcy filing in the US cost its investor SoftBank, founded and owned by Japanese billionaire Masayoshi Son, $11.5 billion in equity losses. Another $2.2 billion in WeWork debt still remain for SoftBank after the office space sharing startup's value, once at $47 billion, dropped 98.6% this year. Son had ignored SoftBank executives' objections to investing in WeWork in 2019.
read more at BQ Prime