After WeWork, SoftBank Group's start-up Bookkeeping draws scrutiny

Son's bookkeeping has allowed him to claim his average internal rate of return far outpaces those of other investors

In early 2018, the founders of Chinese artificial intelligence startup SenseTime Group flew to Tokyo to see billionaire investor Masayoshi Son. As they entered the offices, Chief Executive Officer Xu Li was hoping to persuade the head of SoftBank Group to invest $200 million in his three-year-old start-up.

A third of the way into the presentation, Son interrupted to say he wanted to put in $1 billion. A few minutes later, Son suggested $2 billion. Turning to the roomful of SoftBank managers, Son said this was the kind of AI company he’d been looking for. 

“Why are you only telling me about