The employees of the Japan-based SoftBank Group, are likely to get around $20 billion from the company in order to buy stakes in its second venture capital fund, says Wall Street Journal, report taken from Livemint.
Presumably, the move comes after the success of an earlier $100 billion fund to invest in tech startups.
According to the sources, Masayoshi Son, founder and Chief Executive Officer at Softbank Group, may account for half of the employee investment pool. Whereas, earlier, the company said that the Second Vision Fund aims to raise $108 billion.
Japan-based Soft Bank Group, is known for its leadership by founder Masayoshi Son. It, now, owns operations in broadband, fixed-line telecommunications, e-commerce, internet, technology services, finance, media and marketing, semiconductor design, and other businesses.
The sources also revealed that Son has a net worth of $16.9 billion, making him Japan’s second-richest person.
The Vision Fund held 81 investments worth about $66.3 billion and till June, the first fund had earned 62% returns, the company stated.