SoftBank to trim Alibaba stake to 14.6%, poised to book $34B gain

Masayoshi Son famously built his war chest by pumping $20 million into Alibaba two decades ago. Over the years the Chinese e-commerce behemoth has become a way for the billionaire founder of SoftBank Group to generate liquidity. And now Son is ready to further cash in as he tries to raise capital to keep his Vision Fund investment powerhouse afloat.
SoftBank said Wednesday that it plans to sell about 242 million American depository receipts (ADRs) of Alibaba, which will bring its stake in the company down to 14.6% from 23.7% as of the end of June. The group estimated a roughly 4.6 trillion yen

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