Author Topic: SoftBank CEO Cancels Speech at Saudi Conference  (Read 29 times)

YELLO

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SoftBank CEO Cancels Speech at Saudi Conference
« on: October 23, 2018, 11:09:58 AM »

It is being reported that the CEO of technology investment firm SoftBank has withdrawn from the Future Investment Initiative (FII) in Riyadh.

SoftBank has received billions in funding from Saudi Arabia for tech investment purposes.

The non-appearance of Son could cause acute embarrassment and anger in Riyadh, given SoftBank's close ties to Saudi Arabia.

In recent years, the kingdom has poured an increasing amount of money into SoftBank's $100 billion "Vision Fund". Saudi Arabia, via its own sovereign wealth pot, is the fund's biggest contributor.
The Wall Street Journal reported that Son may still attend the Riyadh conference on the sidelines. Saleh Romeih, a managing partner of the Vision Fund, spoke as scheduled on Tuesday.
https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.cnbc.com/amp/2018/10/23/the-softbank-ceo-has-reportedly-canceled-his-event-at-the-saudi-investment-conference.html&ved=2ahUKEwim6K-E6JzeAhXEk1kKHaVGCrIQiJQBMAB6BAgJEAQ&usg=AOvVaw15-iPTUXDl1MwPlSuQyXQ2&ampcf=1