The managers of SoftBank's $100 billion Vision Fund slashed their pre-bailout valuation of WeWork by 83% in the space of three months.
SoftBank slashed its pre-bailout valuation of WeWork by 83% in three months to $4.9 billion, according to an investor presentation dated for release on Friday. SoftBank Investment Advisors, which manages the Japanese conglomerate's $100 billion Vision Fund I, cut WeWork's valuation by 74% even after accounting for parts of SoftBank's rescue deal, from $29.6 billion on June 30 to $7.8 billion on September 30. Vision Fund I posted an $8.8 billion investment loss last quarter.
SoftBank slashed its pre-bailout valuation of WeWork by 83% in three months to $4.9 billion, according to an investor presentation dated for release on Friday. SoftBank Investment Advisors, which manages the Japanese conglomerate's $100 billion Vision Fund I, cut WeWork's valuation by 74% even after accounting for parts of SoftBank's rescue deal, from $29.6 billion on June 30 to $7.8 billion on September 30. Vision Fund I posted an $8.8 billion investment loss last quarter.
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