SoftBank Group founder Masayoshi Son has reduced the shares he pledged to lenders by $2.1 billion in recent months, lowering his collateral after artificial intelligence bets fueled a rebound in his technology fortune. The move comes as SoftBank shares surged nearly 200% to an October peak amid an AI frenzy, though they have since shed some gains on bubble fears.
Masayoshi Son, the billionaire founder of SoftBank Group, reduced the shares pledged to lenders by 19.4 million to around 154.2 million, according to a filing earlier this month. This brings the portion of his holdings committed to banks to about 31%, down from nearly 39% in March 2020, based on Bloomberg data.
The bulk of Son's $35.3 billion fortune stems from a stake of just over a third in SoftBank, the Tokyo-listed conglomerate that manages a global portfolio of investments ranging from chipmakers to startup ventures. SoftBank shares rocketed almost 200% to a peak at the end of October, driven by enthusiasm for artificial intelligence. While the stock has relinquished some of those advances lately amid concerns over a potential bubble in the sector, it remains on track for the largest annual gain since 2013.
Son's decision to trim pledges follows a resurgence in his volatile technology wealth, propelled by bets on AI. The company's diverse investments underscore its role in the tech ecosystem, though market fluctuations continue to shape his financial strategy.
