SoftBank Faces Historic Losses as Jack Ma Leaves Alibaba

Jack Ma, co-founder of Alibaba and one of China’s wealthiest individuals, is resigning from the board of SoftBank, a prominent Japanese technology firm known for its significant investments in blockchain. This decision comes after 13 years of close association with the company and coincides with SoftBank reporting its largest operating losses to date.

A recent report highlighted that Ma’s departure is particularly notable as SoftBank’s Vision Fund has experienced unprecedented losses of 1.8 trillion yen (approximately $16.7 billion). Overall, the company reported total annual losses of 1.36 trillion yen (around $12.7 billion) for the fiscal year ending March 31.