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SPAC boom and SoftBank's mega-rally boost Masayoshi Son's billions

Venus Feng
Venus Feng3/5/2021 07:00 AM GMT+08  • 4 min read
SPAC boom and SoftBank's mega-rally boost Masayoshi Son's billions
After closing at an all-time high on March 3, SoftBank shares slipped 5.3% on March 4 amid a decline in the broader stock market.
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Few fortunes are as volatile as Masayoshi Son’s. The SoftBank Group founder was briefly richer than Bill Gates at the start of the century before tech stocks crashed. Last March, as markets sank under Covid-19 and questions swirled over SoftBank’s investments, his wealth dipped to US$8.4 billion, the lowest since 2016.

Less than a year later, he has more than quadrupled his fortune to US$38 billion ($50.6 billion), according to the Bloomberg Billionaires Index — the highest level since tracking started in 2012.

The surge is closely tied to the rally in SoftBank shares, which represent more than 95% of his net worth and have climbed almost fourfold from a low at the worst of the pandemic-fuelled selloff.

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