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SoftBank shares plummet

Saudi ties scare shareholders

Softbank’s Masayoshi Son and Saudi Crown Prince Mohammed bin Salman
(Credit: Bloomberg)

Shares in Masayoshi Son’s SoftBank Group Corp. fell sharply yesterday due to its close ties to the Saudi government. 

Dig Deeper: Saudi Arabia is believed to be responsible for the disappearance of journalist Jamal Khashoggi. The Saudi’s are major investors in their Vision Fund, and are planning to invest another $45 billion in Vision Fund II.

Heard in the Valley: Kingston told Bloomberg: “Son is going to find a chillier welcome in Silicon Valley. The whole ethos of these young venture capitalists is they want to make the world a better place. That’s hard to reconcile with the vision of darkness that Saudi Arabia is projecting.”

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