SoftBank executive Masayoshi Son pay slashed after historic vision fund loss

SoftBank Group Corp.’s top executives saw steep cuts in their paychecks as the Japanese conglomerate marked a historic loss for its Vision Fund unit.

The company’s founder and Chief Executive Officer Masayoshi Son kept his pay unchanged at 100 million yen (roughly $785,000), however four of the top six executives whose salary was made public through a company filing on Monday saw their compensation drop following a record $20.5 billion loss.

Simon Segars, who stepped down as the head of the company’s chip unit Arm Ltd. in February, earned 1.15 billion yen, SoftBank said. That was down almost 40% from the prior year. Ronald Fisher, Son’s long-time lieutenant who also stepped down from his role leading the Vision Fund’s US arm in April, earned 126 million yen. That marked an 86% cut. Fisher remains an adviser to Son.

Ken Miyauchi, chief of SoftBank’s domestic telecom operation, made 539 million yen, while its Chief Financial Officer Yoshimitsu Goto made 293 million yen. Both had double-digit pay cuts.