SoftBank Exits Alibaba After 23 Years, Reaping $8.5 Billion Windfall
Summary
SoftBank exits its 23-year partnership with Alibaba, reaping a staggering $8.5 billion windfall, 425 times its initial $20 million investment, as co-founders Jack Ma and Joe Tsai become Alibaba's largest shareholders.
Key Points
- SoftBank sells its stake in Alibaba, concluding a 23-year partnership.
- SoftBank books a gain of $8.5 billion, 425 times its initial $20 million investment.
- Alibaba co-founders Jack Ma and Joe Tsai become the largest shareholders.