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SoftBank

SoftBank's Son stockpiles $80bn for pandemic 'worst case'

Tech investor calls TikTok security saga 'political,' urging technical solutions

NEW YORK -- As SoftBank Group shed assets ranging from Alibaba to T-Mobile this year, the Japanese tech investor created an $80 billion cash pile that CEO and Chairman Masayoshi Son says was built with the "worst-case scenario" of COVID-19 in mind.

"I saw the possibility of a lot of economic crisis," Son said Tuesday as he kicked off the two-day New York Times DealBook Online Summit. "We have investment in many startup companies ... I was afraid that, you know, maybe some of them cannot make it."

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