SoftBank Vision Fund head Rajeev Misra doubles salary

SoftBank Vision Fund’s head, Rajeev Misra, has received roughly $15 million towards his salary, more than doubling his annual payment in the past business year, Reuters reported.
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The fund’s underperformance pushed SoftBank to report a record operating loss of some $13 billion.

The 1.6 billion yen amount includes basic pay and other compensation, a group filing showed.

The annual salary of Rajeev Misra was second only to remuneration for SoftBank Group Corp chief operating officer Marcelo Claure. The annual salary package of Marcelo Claure rose 17 percent to 2.1 billion yen. Marcelo Claure has become WeWork’s executive chairman as SoftBank restructures the company.

Compensation for CEO Masayoshi Son was 209 million yen, a 9 percent decline compared to a year earlier.

SoftBank’s annual operating loss was largely due an $18 billion shortfall at the Saudi-backed Vision Fund which has seen investments in startups like office sharing firm WeWork and ride-hailing app operator Uber Technologies.

Vice chairman Ron Fisher, who was the group’s most highly paid executive in the previous business year, received 80 percent drop in remuneration to 680 million yen. Ron Fisher was a key architect of the disastrous WeWork investment.

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