4 ms·
The $5b is coming from SoftBank Group. The earlier $11b came from the Vision Fund, which is a subsidiary with an entirely different operating environment.
by dfcowell 7y ago
The $5b is coming from SoftBank Group. The earlier $11b came from the Vision Fund, which is a subsidiary with an entirely different operating environment.
- semi-extrinsic 7y agoSure, but it still means somehow Masayoshi Son (and the investors whose money he manages) has paid $16bn for a thing now worth $8bn.
- dodobirdlord 7y agoAssuming WeWork ends up being worth $5B+, it's kinda impressive that Masayoshi Son comes out of this with Softbank owning much of WeWork and the Vision Fund investors being the ones getting burned.
- Danieru 7y agoExcept the vision fund is structured as debt for the outside money. Softbank takes the profit and loss minus interest payments on the debt. Thus the vision fund is more like a leveraged softbank.