For every two to three years, SoftBank Group Corp plans to raise $100 billion and spend $50 billion annually according to Chief Executive Masayoshi Son.
But against all odds, Crown Prince Mohammed bin Salman handed over $45 billion as part of the Prince’s attempt to diversify the kingdom’s economy.
The world caught wind of Saudi Arabia’s huge capital provided and attracted more potential investors where even Apple is in the mix.
The point Mr. Son’s $100bn dare is to invest these funds to “frontier technology” and therefore will help shape the industries of the future.
India, South-East Asia, and several European Countries are in the works to receive capital from the Vision Fund.
Distributing the Money worldwide is a move that Mr. Son labeled as “creating a virtual Silicon Valley in SoftBank”, a business hub where people can share contacts and advice, buy goods and services from each other and even forge alliances.
As of September 28, SoftBank Group Corp has managed to raise $93 billion and intends to raise further financing from all over the world.