Softbank Chairman Masayoshi Son has resigned from Alibaba’s board, 15 years after he took a seat on the board of one of the world’s largest e-commerce companies.
Son’s resignation from Alibaba’s board has been timed to match Jack Ma’s last day at SoftBank’s board.
Alibaba’s market value is a whopping $600 billion and currently accounts for 65% of SoftBank’s shareholder value.
Softbank Chairman Masayoshi Son has resigned from Alibaba’s board, 15 years after he took a seat on the board of one of the world’s largest e-commerce companies. Son announced his departure during the annual shareholder meeting of SoftBank held on June 24.
Son said that he is graduating from his most successful investment so far and that Alibaba will remain the crown jewel of SoftBank’s portfolio.
Son’s resignation from Alibaba’s board has been timed to match Jack Ma’s last day at SoftBank’s board. In May 2018, Ma left the board of SoftBank after 13 years.
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“Stepping down the SoftBank board, Ma said to me was something that he decided on his own. That's sad but we will still keep in touch. Right before Covid19 we met face to face every month to have dinner, talk business and we will remain friends for the rest of our lives,” Son had said on Ma’s resignation.
He had invested $20 million in Alibaba in 2000 and has been one of the most influential people behind Alibaba’s growth. Son
had said that he invested in Alibaba after speaking to him for five minutes, when Alibaba had zero revenue.
Today, Alibaba’s market value is a whopping $600 billion and currently accounts for
65% of SoftBank’s shareholder value
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