Japan SoftBank Chairman Son Jeong-eui and Samsung Electronics Vice Chairman Lee Jae-yong enter the Korea Furniture Museum in Seongbuk-gu, Seoul, where a dinner meeting with the heads of domestic companies was held on the afternoon of the 4th. 2019.7.4 / News 1 & # 169; News1 Park Jung Ho reporter (Seoul = News 1) Reporter Park Hyung-ki = As technology stocks around the world continued to plunge ahead of the US Federal Reserves interest rate hike, SoftBank Chairman Son Jeong-eui, who mainly invests in technology stocks, said that $25 billion (about 31 trillion won) of personal wealth has evaporated in recent months. Bloomberg News reported on the 15th (local time). According to the Bloomberg Billionaires Index, as of today, Sons personal fortune stands at $13.5 billion, down $25 billion from last year. This is interpreted as the fact that tech stocks around the world are plummeting all at once, with the US Nasdaq falling more than 20% from its previous high and entering an official bear market (downtrend). As tech stocks plummeted, Chairman Son is making stop losses by selling some tech stocks. Recently, Chairman Son sold $1 billion worth of shares in Coupang, Koreas leading delivery company, at a cheap price. After losing about $70 billion when the dot-com bubble burst, Son made up a significant portion of it by investing in promising technology companies such as Alibaba. However, as investors shift from technology stocks to value stocks ahead of a recent interest rate hike, technology stocks are plummeting. As a result, Bloomberg said that the personal property of his hand was rapidly decreasing.
