SoftBank plans to lend up to $20bn to employees: WSJ

19 August, 2019 12:00 AM printer

TOKYO: Japan's SoftBank Group Corp is planning to lend up to US$20 billion to its employees, including Chief Executive Masayoshi Son, to buy stakes in its second Vision Fund, the Wall Street Journal reported on Saturday, citing people familiar with the matter.

Son himself may account for over half of that amount, the Journal reported, adding that executives feel that such a step will make employees more accountable as the investments of the fund can be canceled if a manager leaves or is found to have engaged in a "reckless deal", report agencies.