SoftBank Group Corp., the Japan-based multinational conglomerate, has plans to lend as high as $20 Billion to the employees. This will allow them a chance to purchase stakes for its 2nd venture capital after the success of its $100 Billion lending fund for investment in the technology-base start-ups.
This 2nd series of the Vision Fund has a set aim to raise around $108 Billion, as mentioned by SoftBank. Apart from its employees, the corporation also aims to collect funds from companies such as Microsoft Corp., Apple Inc., Sovereign Wealth Fund of Kazakhstan, and the Foxconn Technology Group. The plan also acquired support from financial institutions in Japan, with 7 identified as the signing memorandums for understanding the participation.
Masayoshi Son, the Chief Executive Officer and Founder might account for somewhere around half the investment pool for the employees. An externally connected spokeswoman for the company, Emily Claffey gave no response with regards to the queries of employees’ loan fund.
As of now, Son flaunts net worth that is somewhere around $16.9 Billion. This makes him the 2nd richest person in the country of Japan. SoftBank also mentioned earlier that the company is committing around $38 Billion capital fund for the investment project.