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SoftBank Group reported a $6.2 billion quarterly loss, its fourth straight quarter in the red, due to the bankruptcy of office-sharing company WeWork. The loss was related to its flagship Vision Fund, which also posted a loss of $4.2 billion. WeWork's bankruptcy filing led to a hit on SoftBank's investments, with the company losing more than $14 billion by betting on WeWork. The bankruptcy filing allowed WeWork to keep operating while it figures out plans to repay its debts. SoftBank's market value fell below that of its telecoms unit, raising the possibility of a management buyout.
WeWork has officially filed for Chapter 11 bankruptcy. https://t.co/i0Z86kGdYH
The WeWork $WEWKQ chapter 11 bankruptcy cases kicked off with an amusing hearing. We write about it in tomorrow's newsletter (link in bio). This bit is savage 👇 https://t.co/qgcFdZ0Zgd
WeWork filed for bankruptcy earlier this month, ending its 2010s coworking reign. So what happened? Listen on this week's episode of Most Innovative Companies. Sponsored by @LifeAtPurdue. Spotify: https://t.co/KiOiCL1tpk Apple Podcasts: https://t.co/mlNeKaqB17 https://t.co/wtuvm6ZMIA
The fall in SoftBank’s market value to below that of its telecoms unit trains the spotlight back on the possibility of a management buyout https://t.co/9biM54HQdy
The fall in SoftBank’s market value to below that of its telecoms unit trains the spotlight back on the possibility of a management buyout https://t.co/vGBQGHvLdA
We've charted out the highs and lows of @SoftBank's public company portfolio. The firm's enormous Q3 loss of around $6.2 billion is due only in part to the fall of once-prized @WeWork. https://t.co/vqQLLGgsKG https://t.co/RO05iQi9qk
Listen to @Masason promise that #Softbank will be different this time... last August, before @WeWork losses hit $14.3b! 👂 https://t.co/cx5x8eS0lZ $SFTBY, @Softbank https://t.co/x4YTmjyxAf
WATCH: WeWork, once valued at $47 billion, filed for bankruptcy this week. A huge investment in the one-time start-up leader didn’t work out for Softbank, that saw a quarterly loss of $5.2 billion, and more. Here's a roundup of the financial stories this week https://t.co/TYEFOgWrJZ
WeWork, once valued at $47 billion, filed for bankruptcy this week. A huge investment in the one-time start-up leader didn’t work out for Softbank, that saw a quarterly loss of $5.2 billion, and more. Here's a roundup of the financial stories this week https://t.co/eKX4snNq83
WeWork Bankruptcy: The Basics https://t.co/z96xSnjBAr
"Office-sharing company #WeWork filed for Chapter 11 bankruptcy protection in federal court Monday. Valued in 2019 at $47 billion in a round led by Masayoshi Son’s SoftBank, the company tried and failed to go public five years ago." https://t.co/ICZQuEzB1Q
In 50 Words: SoftBank shares drop 9.3% following Vision Fund’s $1.7b loss https://t.co/sYq68uTdsx
Why bankruptcy won't spell the end for WeWork https://t.co/9ynwAkWj95
WeWork's bankruptcy filing this week offers a firsthand glimpse at how the collision of rapidly rising rates with the stalled return-to-office movement is roiling the office space industry. https://t.co/pM0SrfFEt3
SoftBank’s flagship Vision Fund reports another loss as valuations on some of its bets declined, even as the investor chases new deals in AI https://t.co/pUAm5hEi7m
SoftBank reported a $5.2 billion quarterly loss as it took a hit from the bankruptcy of WeWork and despite the Japanese tech group managing to achieve the initial public offering of its chip designer Arm Read more: https://t.co/L0nsW1qwyf https://t.co/z4yjMfYpXD
SoftBank reported a $5.2 billion quarterly loss as it took a hit from the bankruptcy of WeWork and despite the Japanese tech group managing to achieve the initial public offering of its chip designer Arm https://t.co/h1kPCb0rQU https://t.co/NVW4HvmmX7
WeWork shares jumped 92% after it filed for bankruptcy https://t.co/NVobgRyRYj
WeWork shares jumped 92% after it filed for bankruptcy https://t.co/L6IVGDYlDR
SoftBank has lost more than $14 billion by betting on WeWork https://t.co/qdofqpbz6l
"It is a pretty challenging environment for consumers and companies alike." Forbes' @derek_saul joins @_brittanylewis on "Forbes Newsroom" to discuss the notable companies to go under in recent years and the takeaways. https://t.co/i4U0E6iwBo https://t.co/QSFYkHwXCO
"There certainly is evidence of that recessionary type period." Forbes' @derek_saul joins @_brittanylewis on "Forbes Newsroom" to discuss WeWork filing for bankruptcy. https://t.co/i4U0E6iwBo https://t.co/1IWse2BnVp
"Through the first nine months, this was the busiest year for corporate bankruptcies since 2020 and it was just narrowly behind." Forbes' @derek_saul joins @_brittanylewis on "Forbes Newsroom" to discuss WeWork filing for bankruptcy. https://t.co/i4U0E6iwBo https://t.co/SyesrOpjJb
"It's a classic story of a company that's burning through cash faster than they were making it." @derek_saul, breaking news reporter at Forbes, joins @_brittanylewis on "Forbes Newsroom" to discuss WeWork filing for bankruptcy. https://t.co/i4U0E6iwBo https://t.co/kRvGFf6dEm
Japanese tech group SoftBank recorded a fourth consecutive quarter in the red after reporting a $5.2 billion loss for the three months ending September 30, as it took a hit from the bankruptcy of WeWork Read more: https://t.co/L0nsW1qwyf https://t.co/8RgEXONDei
Disgraced WeWork founder Adam Neumann still worth $1.7B after company’s bankruptcy https://t.co/xzYdnWmEBb https://t.co/bHgakfT0pT
Japanese tech group SoftBank recorded a fourth consecutive quarter in the red after reporting a $5.2 billion loss for the three months ending September 30, as it took a hit from the bankruptcy of WeWork https://t.co/h1kPCb0ZGs https://t.co/nzJEW6Amin
The once-heralded @SoftBank_Group Vision Fund unit posted a $1.7B loss for its most recent quarter, in part due to the writing down of its stake in now-bankrupt @WeWork. https://t.co/Ksf5mqAzhj
WeWork files for bankruptcy, allowing the co-working giant to keep operating while it figures out plans to repay its debts https://t.co/UeTgZOJn9w
WeWork files for bankruptcy, allowing the co-working giant to keep operating while it figures out plans to repay its debts https://t.co/8lbX2Xxpi6
WeWork files for bankruptcy, allowing the co-working giant to keep operating while it figures out plans to repay its debts https://t.co/qdqSPbTSD1
SoftBank Vision Fund loses $1.7 billion more as WeWork collapses https://t.co/j7u59V8sXn via @business
WeWork is not working out for SoftBank, which booked a $5.2 billion quarterly loss for its fourth straight quarter in the red. It took a hit from the bankruptcy of the once high-flying WeWork, once valued at $47 billion Read more: https://t.co/L0nsW1r4nN https://t.co/DnJNni94LE
WeWork is not working out for SoftBank, which booked a $5.2 billion quarterly loss for its fourth straight quarter in the red. It took a hit from the bankruptcy of the once high-flying WeWork, once valued at $47 billion https://t.co/h1kPCb0rQU https://t.co/PVTyetp4pL
Even post bankruptcy SoftBank finds a way to lose more on wework https://t.co/s6UUZk0BCP
SoftBank posts unexpected $6.2bn loss after WeWork bankruptcy https://t.co/HrtFLhahQt
WeWork's collapse created a lot of financial losers. Adam Neumann wasn’t one of them. https://t.co/2YiBNPXRfb
⚠️ US corporate bankruptcies at highest level since 2020, WeWork joins the list Bankruptcies by U.S. companies jumped amid decades-high interest rates and sticky inflation, with WeWork being the latest to succumb after grappling with expensive leases and work-from-home trends. https://t.co/61G6A4c8s1
SoftBank Group booked a $5.2 billion quarterly loss, its fourth straight quarter in the red, as the Japanese tech giant took a hit from the bankruptcy of the once high-flying WeWork Read more: https://t.co/L0nsW1qwyf https://t.co/klfrWyKcI1
SoftBank Group booked a $5.2 billion quarterly loss, its fourth straight quarter in the red, as the Japanese tech giant took a hit from the bankruptcy of the once high-flying WeWork https://t.co/h1kPCb0ZGs https://t.co/YiYx4CHz0b
SoftBank posts unexpected $6.2bn loss after WeWork bankruptcy https://t.co/J7u38PmiQr
We should all have the confidence of WeWork's bankruptcy announcement https://t.co/QCTuAxXnp3
There's a new theory that Adam Neumann will buy back WeWork https://t.co/GYk5F4aHkz
⚠️BREAKING: *SOFTBANK POSTS $5.2 BILLION QUARTERLY LOSS AS WEWORK, TECH INVESTMENTS BITE 🇯🇵🇯🇵 https://t.co/pMK4OLjouX
SoftBank slips to red as Vision Fund posts $4.2b in losses https://t.co/zGehR61L1J
Why bankruptcy won't spell the end for WeWork https://t.co/ARDz2wUJtn
This week WeWork, which leases office space in 777 locations across 39 countries, filed for bankruptcy. Its fall shows the deepening cracks in real estate. Read more https://t.co/R3EiB3i8BO 👇
SoftBank’s flagship Vision Fund reports another loss as valuations on some of its bets declined, even as the investor chases new deals in AI https://t.co/KVQA6R4Rp9
SoftBank’s flagship Vision Fund reports another loss as valuations on some of its bets declined, even as the investor chases new deals in AI https://t.co/9ACiPQQCkb
SoftBank’s flagship Vision Fund reports another loss as valuations on some of its bets declined, even as the investor chases new deals in AI https://t.co/WFthkiCBAl
In 50 Words: WeWork lenders got $1.5b payout from SoftBank before bankruptcy filing https://t.co/amz9dysyRe
SoftBank books $5.2 bln quarterly loss as investments and weak yen bite https://t.co/RaNrpMYDwp https://t.co/2wk6SmlQdZ
SoftBank Group sank deeper into the red as it reported it lost $6.2 billion related to the bankruptcy of office-sharing company WeWork https://t.co/zdD1w0ILJv https://t.co/zdD1w0ILJv
SoftBank's Vision Fund ekes out gain but company posts $6.2 billion quarterly loss https://t.co/q7pHRtUteR
SoftBank Group had another quarterly loss of 789 billion yen ($5.22 billion), its fourth straight quarter with a loss, per Reuters.