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Economic Times
28-06-2025
- Business
- Economic Times
Masayoshi Son hints at succession plan while chasing AI ambition
Reuters SoftBank CEO Masayoshi Son Masayoshi Son acknowledged the outlines of a succession plan at SoftBank Group Corp., addressing what may be investors' single biggest concern regarding the long-term future of the Japanese said he plans to hold SoftBank's reins another ten years, but added he has several candidates for its next chief in mind from within the technology group. The candidates work alongside the billionaire every day, although he hasn't disclosed who they are to anyone, the 67-year-old said during a general shareholders' meeting in Tokyo on Friday. Son fielded repeated questions from shareholders worried about a SoftBank without its charismatic leader or a succession plan. The chief executive officer responded that he's healthy and intends to continue to lead and aim to realize an era where artificial intelligence is pervasive in society. 'I look forward to seeing a successor grow as quickly as possible so that I can appoint them, but I still have some passion left and want to keep at this,' he said. Son added, however, that he's mentally prepared to hand over the reins at any time, should he stand in the way of SoftBank's mentioned the head of telecom unit, Junichi Miyakawa, who is in charge of rolling out AI infrastructure within Japan and widely seen as an example of how others in the company can lead as Son shifts his focus elsewhere. Miyakawa is doing 'an extremely solid job,' Son said. 'I feel very pleased, encouraged and reassured by his efforts. As a result, I have almost never felt the need to interfere in what he does. I trust him.'SoftBank's shares rose to close up 2.5%, buoyed by a broader rally that boosted the Nikkei Stock lieutenants who have been officially or unofficially in the running to be Son's successor have included Nikesh Arora, Marcelo Claure and Katsunori Sago. All have left shareholder even asked if AI would either extend Son's lifespan or make it possible for Son to somehow remotely control the company from beyond the grave. Son responded by saying that while he intends to use AI 'more than anyone,' he didn't see it replacing annual shareholders' meeting has long been a platform for Son to share his vision of a future of tech-driven progress. Many investors have hung onto his words and their shares from before the dot-com boom and asked about SoftBank's ability to finance big bets such as the Stargate data center projects, and Son's ability to deliver on his goals to lead in an age of such project is a partnership with Taiwan Semiconductor Manufacturing Co. to build a large AI manufacturing hub in Arizona, Bloomberg reported earlier. Son said he's now cornered key artificial intelligence chip architecture and seeks to become the world's top platform by the time AI surpasses human abilities — or what he and other AI proponents call artificial super-intelligence. 'We want to become the world's top platformer for ASI,' he said, adding that it'll be a winner-take-all arena. SoftBank controls chip designer Arm Holdings Plc and plans to invest as much as $30 billion in ChatGPT maker OpenAI. 'These are indispensable for ASI,' he said, noting also that SoftBank has acquired Graphcore Ltd. and has plans to buy Ampere Computing LLC. 'I'm all in.' Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. The bike taxi dreams of Rapido, Uber, and Ola just got a jolt. But they're winning public favour Second only to L&T, but controversies may weaken this infra powerhouse's growth story Punit Goenka reloads Zee with Bullet and OTT focus. Can he beat mighty rivals? 3 critical hurdles in India's quest for rare earth independence HDB Financial may be cheaper than Bajaj Fin, but what about returns? Why Sebi must give up veto power over market infra institutions These large- and mid-cap stocks can give more than 23% return in 1 year, according to analysts Are short-term headwinds from China an opportunity? 8 auto stocks: Time to be contrarian? Buy, Sell or Hold: Motilal Oswal initiates coverage on Supreme Industries; UBS initiates coverage on PNB Housing
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First Post
25-05-2025
- Business
- First Post
Softbank's Masayoshi Son eyeing creating joint sovereign wealth fund between US, Japan for big ticket tech investments
Son has reportedly raised the concept directly with US Treasury Secretary Scott Bessent and other senior government figures in recent weeks, coinciding with ongoing US-Japan trade negotiations read more US President Donald Trump (L) and SoftBank's Masayoshi Son (R) are known to be close. Reuters SoftBank founder Masayoshi Son has proposed the creation of a joint sovereign wealth fund between the United States and Japan aimed at large-scale investments in technology and infrastructure projects across the US. Discussions regarding the idea have reached high-level officials in both Washington and Tokyo, Financial Times reported citing three individuals familiar with the matter. Though no formal proposal has yet emerged, the fund could serve as a model for other nations looking to strengthen investment relationships with the US. STORY CONTINUES BELOW THIS AD Son has reportedly raised the concept directly with US Treasury Secretary Scott Bessent and other senior government figures in recent weeks, coinciding with ongoing US-Japan trade negotiations. Japan continues to advocate for a zero-tariff arrangement, while US negotiators have stated that tariffs will remain at a baseline of at least 10 per cent. After a recent telephone conversation with US President Donald Trump, Japanese Prime Minister Shigeru Ishiba indicated that he expects their upcoming meeting at the G7 summit in Canada in mid-June to be pivotal in advancing trade talks. Under the proposed arrangement, the US Treasury and Japan's Ministry of Finance would jointly manage and own the fund, each holding substantial stakes. The partnership could later open to additional investors, potentially even allowing ordinary citizens from both nations to participate. An individual familiar with the discussions noted that for the fund to meet its investment goals, it would require substantial initial funding, possibly $300 billion, supplemented by significant leverage. Officials see potential benefits in the sovereign wealth fund as it could generate new revenue streams for both governments without raising taxes. 'The theory is that Bessent is looking for revenue streams for the Treasury that do not involve raising taxes, and however far out this joint fund may sound, it would in theory provide that,' said one individual briefed on the details. The source added that the US views this as a shift away from previous investment strategies, potentially setting a precedent for future government-to-government financial partnerships. STORY CONTINUES BELOW THIS AD Japan seeks clear governance to avoid the uncertainties associated with political decisions made in Washington, aiming for stable and transparent management of the fund. Son, known for his close ties to President Trump, previously unveiled a $500 billion project in January dubbed Stargate, aiming to establish data centres and artificial intelligence infrastructure in the US in collaboration with companies such as OpenAI and Oracle. This type of initiative could attract funding from the proposed US-Japan joint sovereign wealth fund, according to individuals familiar with Son's objectives.
