SoftBank founder Masayoshi Son says of WeWork co-founder Adam Neumann: ‘I shut my eyes to a lot of his negative aspects’
TOKYO—SoftBank Group Corp. said it lost at least $4.7 billion on U.S. office-sharing company WeWork, an investment Chief Executive Masayoshi Son called an error in judgment.
SoftBank marked down the total value of WeWork’s equity to $7.8 billion, a long way from the startup’s $47 billion valuation before its attempt to go public backfired amid widespread skepticism about its profitability and management.
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