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Business deals

SoftBank's lavish tech bets under scrutiny amid market turmoil

Son reins in WeWork investment after $30bn in new deals for 2018

SoftBank has reportedly scaled back plans to invest as much as $16 billion in WeWork. (Photo by Ken Kobayashi)

TOKYO -- Concerns over SoftBank Group CEO Masayoshi Son's ambitious bets on technology companies are deepening after he led nearly $30 billion worth of investments in startups in the past year alone. 

SoftBank has scaled back its planned investment in co-working space startup WeWork to $2 billion after holding talks to inject as much as $16 billion, the Financial Times reported on Tuesday, citing the recent tech stock rout and concerns among investors in its $100 billion Vision Fund. It marked the first clear sign of pushback against Son's dealmaking since the fund was launched two years ago. 

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