Although good news about vaccines has continued to come out in the past two weeks, which has boosted investment confidence in the capital market, the CEO of Japan’s Softbank Group, Masayoshi Son, has been concerned about the second and third waves of epidemics and Worried about the uncertainty that may follow.
Recently, when attending an event remotely, Sun Zhengyi said that SoftBank is currently dumping assets and hoarding cash to deal with the worst possible situation. While further explaining the worst situation, Sun Zhengyi mentioned the bankruptcy of Lehman Brothers during the last financial crisis, and said that any disaster may occur in the next two to three months, just like the bankruptcy of Lehman Brothers that year. Like the financial crisis, a single event can trigger a chain reaction, bring systemic problems, and cause a global stock market crash.
Sun Zhengyi said that his company originally planned to sell assets worth 40 billion U.S. dollars, but in order to ensure liquidity, it eventually sold 80 billion U.S. dollars in assets, including the sale of British chip designer Anmou (ARM) for 40 billion U.S. dollars. ), and Alibaba stock worth US$20 billion. Sun Zhengyi believes that with 80 billion US dollars in cash in hand, once SoftBank’s stock price drops, he can more actively buy back more stocks, and he can continue to invest in private companies and publicly listed companies. However, Sun Zhengyi did not comment on whether he would privatize SoftBank and delist from the open market.
Reprint indicated source：Spark Global Limited information