SoftBank has invested about $3.9 billion (Dh14.43bn) into 25 of the world’s largest technology companies including Amazon, Tesla, Netflix and Alphabet.
The Japanese conglomerate owned $1.04bn of Amazon stock, its biggest investment, a $475 million stake in Alphabet, $248.6m of Adobe and $189m of Netflix, the Tokyo-based company said in its latest filing to the US Securities and Exchange Commission. Its stake in Tesla was worth $122.9m as of June 30, it said.
SoftBank founder Masayoshi Son is expanding the company’s investment activities from private start-ups to publicly traded equities at a time when the biggest technology stocks are near record highs. He unveiled a new asset management arm on an earnings call last week, saying it is part of a broader bet on transformative technologies. The Japanese company is targeting investments of more than $10bn in public stocks, according to sources familiar with the initiative.
The filing also shows a $183m stake in Microsoft, $111.5m in PayPal and $108.8m in Zoom. Also on the list were several Chinese names including streaming giants Bilibili and iQiyi as well as Singapore’s Sea, one of the world’s best performers over the past 18 months. While Mr Son has said SoftBank invested in Facebook and Apple, the companies were not listed among the latest disclosure of US-listed holdings.
SoftBank has notched some wins in public stocks over the past years. It profited from investments in Charter Communications in early 2018 and in US chip designer Nvidia. The latest filing showed SoftBank has taken a position in Nvidia worth $180.9m.
The asset management team is led by Akshay Naheta, a senior vice president in Abu Dhabi, the sources said. The group has been quietly amassing multibillion-dollar stakes in American big tech companies over the past few months, they said.
“As an investment company, we need to explore various angles and scope. But our focus is still on companies driving the information revolution,” Mr Son said during SoftBank’s most recent earnings presentation. “This is the purpose of our company.”
Profile of Bitex UAE
Date of launch: November 2018
Founder: Monark Modi
Based: Business Bay, Dubai
Sector: Financial services
Size: Eight employees
Investors: Self-funded to date with $1m of personal savings
Key findings of Jenkins report
- Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
- Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
- Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
- Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
Electric scooters: some rules to remember
- Riders must be 14-years-old or over
- Wear a protective helmet
- Park the electric scooter in designated parking lots (if any)
- Do not leave electric scooter in locations that obstruct traffic or pedestrians
- Solo riders only, no passengers allowed
- Do not drive outside designated lanes
Company%20Profile
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Brief scores:
Manchester City 3
Bernardo Silva 16', Sterling 57', Gundogan 79'
Bournemouth 1
Wilson 44'
Man of the match: Leroy Sane (Manchester City)
What is blockchain?
Blockchain is a form of distributed ledger technology, a digital system in which data is recorded across multiple places at the same time. Unlike traditional databases, DLTs have no central administrator or centralised data storage. They are transparent because the data is visible and, because they are automatically replicated and impossible to be tampered with, they are secure.
The main difference between blockchain and other forms of DLT is the way data is stored as ‘blocks’ – new transactions are added to the existing ‘chain’ of past transactions, hence the name ‘blockchain’. It is impossible to delete or modify information on the chain due to the replication of blocks across various locations.
Blockchain is mostly associated with cryptocurrency Bitcoin. Due to the inability to tamper with transactions, advocates say this makes the currency more secure and safer than traditional systems. It is maintained by a network of people referred to as ‘miners’, who receive rewards for solving complex mathematical equations that enable transactions to go through.
However, one of the major problems that has come to light has been the presence of illicit material buried in the Bitcoin blockchain, linking it to the dark web.
Other blockchain platforms can offer things like smart contracts, which are automatically implemented when specific conditions from all interested parties are reached, cutting the time involved and the risk of mistakes. Another use could be storing medical records, as patients can be confident their information cannot be changed. The technology can also be used in supply chains, voting and has the potential to used for storing property records.
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The Bio
Name: Lynn Davison
Profession: History teacher at Al Yasmina Academy, Abu Dhabi
Children: She has one son, Casey, 28
Hometown: Pontefract, West Yorkshire in the UK
Favourite book: The Alchemist by Paulo Coelho
Favourite Author: CJ Sansom
Favourite holiday destination: Bali
Favourite food: A Sunday roast
TWISTERS
Director: Lee Isaac Chung
Starring: Glen Powell, Daisy Edgar-Jones, Anthony Ramos
Rating: 2.5/5
Bio:
Favourite Quote: Prophet Mohammad's quotes There is reward for kindness to every living thing and A good man treats women with honour
Favourite Hobby: Serving poor people
Favourite Book: The Alchemist by Paulo Coelho
Favourite food: Fish and vegetables
Favourite place to visit: London
