SoftBank Supremo Eyes Rare Success With Arm IPO
Umer Jamshaid Published September 12, 2023 | 10:30 AM
Tokyo, Sept 12 (UrduPoint / Pakistan Point News - 12th Sep, 2023 ) :Masayoshi Son's once-exalted reputation as an investor is badly tarnished, but the irrepressible founder of Japan's SoftBank is hoping that the mega-IPO of Arm this week might bring back the good times.
Such bullishness is typical for Son, 66, a man who when asked about going bald said: "My hair is not receding.
I'm advancing." The IPO "looks likely to be a damp squib as all indications are that it has much lower exposure to AI than what Son has been trumpeting-- no surprise there", Amir Anvarzadeh from Asymmetric Advisors said in a research note last week.
Son was born in Japan in 1957 to ethnic Korean parents who scratched a living rearing chickens and pigs while battling discrimination.
"We collected leftover food from neighbours and fed it to cattle. It was slimy. We worked hard," he said later. "And I've worked hard."He went to the United States aged 16 and while studying at Berkeley developed a translation machine that he sold for around $1 million.