SoftBank Group Corp. has invested around $3.9 billion into 25 of the world’s largest technology companies including Amazon.com Inc., Tesla Inc., Netflix Inc. and Alphabet Inc, Bloomberg reported on Tuesday.
The Japanese conglomerate owned $1.04 billion of Amazon stock, its biggest investment, a $475 million stake in Alphabet, Google’s parent company, $248.6 million of Adobe Inc. and $189 million of Netflix as of June 30, the Bloomberg said citing the Tokyo-based company’s filing to the U.S. Securities and Exchange Commission dated Aug. 17. Its stake in Tesla was worth $122.9 million as of June 30, it added.
Softbank Chief Executive Masayoshi Son last week announced a new investment management subsidiary that would park excess cash from a massive asset sale programme in liquid stocks. SoftBank has spent around $10 billion buying shares.
“As an investment company, we need to explore various angles and scope. But our focus is still on companies driving the information revolution,” Son said during SoftBank’s most recent earnings presentation. “This is the purpose of our company.”
SoftBank also disclosed stakes in several Chinese companies including streaming giants Bilibili Inc. and iQiyi Inc. as well as Singapore’s Sea Ltd., one of the world’s best performing stocks over the past 18 months.
The value of many of the Softbank owned shares is rising, driven by a tech stock rally, with Tesla’s shares up more than 60% since the end of June.