Amid the tailspin at WeWork, Japanese conglomerate SoftBank risks denting the support of Vision Fund investors, including Apple
in its history. Its marquee investment fund, Vision Fund, wrote down its stakes in WeWork, Uber and more than a dozen other companies. The $3.5 billion writedown risks denting the support of Vision Fund investors, including Oracle founder Larry Ellison, Qualcomm and Apple.
“Apple has a strong strategic relationship with SoftBank,” says Daniel Ives, a managing director at Wedbush Securities. “A lot of that is SoftBank’s tentacles in Asia across the wireless and telecommunications industry.” Ives adds that Apple “gets roughly 20% of its iPhone demand out of China alone.”
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