SoftBank's big tech-startup bets start to pay off with $3.8 bn Uber gain

SoftBank holds stakes in all of the world's biggest ride-hailing companies and scores of other high-profile startups

Masayoshi Son is starting to demonstrate the potential of his enormous bets on technology startups.

The Japanese billionaire’s SoftBank Group Corp. reported operating income that more than tripled in the three months to March 31 to 494.9 billion yen ($4.5 billion), helped by a 418 billion yen gain on Uber Technologies Inc. SoftBank and its Vision Fund are the largest shareholders in the US ride-hailing giant, which is going public this week at a market value that may reach $79 billion.

Son has been remaking SoftBank Group from a telecommunications operator into a technology investment firm, and his $100 billion