Softbank Is Having a Mourning Month, a Miserable Year

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FT's Arash Masoudi reports that one of Softbank's big investors, the hedge fund Elliott management, has dumped almost all of its position. Adam Newman is the eccentric entrepreneur who founded WeWork and took the office sharing company to a $47 billion valuation before blowing it up. He just netted a $350 million investment from a top venture capital firm.

Amazon has accused the FTC of harassing top executives as part of an antitrust investigation, hedge fund Elliott Management has dumped almost all of its shares in SoftBank, and Harvard will offer tuition-free MBA programs to low-income students. Plus, the man who blew up WeWork, Adam Neumann, has a new real estate venture that’s attracted a major investment from Silicon Valley royalty.

Mentioned in this podcast:

Amazon accuses FTC of harassing executives including Jeff Bezos and Andy Jassy

Hedge fund Elliott dumps SoftBank stake after souring on Masayoshi Son

Andreessen Horowitz backs WeWork co-founder’s property venture

The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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