Softbank Vision loses record due to double pay of boss

Softbank said in a regulatory filing on Friday that the total compensation for the fiscal year ended March was 1.61 billion yen (15 15 million), Softbank said in a regulatory filing on Friday. The vast majority of these packages, about 1.42 billion yen (.2 13.2 million), were base salaries, with the rest referred to as “other” compensation.

Meanwhile, Vision Fund has suffered an operating loss of 1.9 trillion yen (.7 17.7 billion) for the period. Softbank, plagued by business missteps and the coronavirus epidemic, had to write down the valuations of 47 companies in the fund, including startups such as WeWork and Owe.

Dan Baker, an analyst at research firm Morningstar, said Misra’s compensation package was “superior” and that it was “difficult to see how it could be based on performance”.

Softbank founder Masayoshi Sun said in an earnings presentation earlier this month that he expects about 15 of Vision Fund’s seven portfolio companies to go bankrupt.

The son earned 209 million yen ($ 1.9 million), a 9% reduction over the previous year. About 40% of this was provided in stock options.

Although his son’s salary is lower than that of Misra and some of his other executives, he still owns 22% of the company, valued at about ২০ 20 billion. Its net worth estimates vary: Forbes Pulls it .4 23.4 billion, while Bloomberg Lists its values .1 15.1 billion.
Mishra, who has served as chief executive officer of Softbank Investment Advisors, has begun raising salaries for thousands of workers, raising billions of dollars from the Vision Fund. He was the company’s second highest paid executive last year.
Marcelo Claire, Softbank’s chief operating officer, topped the list with 2.1 billion yen (.. 19.6 million). The former telecom career executive was tasked with turning the way around. He also helped to unify T mobile (TMUS) And Run at full speed (S.) Across the finish line.
Executive salary in Japan America is generally lower than the United States. A December survey by advisory firm Willis Tower Watson found that in 2018, the median CEO salary in Japan was in 13..7 million for a US CEO, compared to in 15.7 million ($ 1.5 million) in Japan.

About the author: Dale Freeman

Typical organizer. Pop culture fanatic. Wannabe entrepreneur. Creator. Beer nerd.

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