SoftBank has doubled the pay for the head of the Vision Fund since the company has recorded record losses

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SoftBank funds tech giants. But they're not all successes

Misra earned 1.61 billion yen ($ 15 million) in total compensation for the fiscal year ending March, more than double its salary a year earlier, said SoftBank on Friday in a regulatory filing. The overwhelming majority of that package, nearly 1.42 billion yen ($ 13.2 million), was base wages, the rest being referred to as “other” compensation.

Meanwhile, the Vision Fund suffered operating losses of 1.9 trillion yen ($ 17.7 billion) over the period. Struggling with the missteps of the business and the fallout from the coronavirus pandemic, SoftBank had to write down the ratings of 47 fund companies, including startups such as WeWork and Oyo.

Misra’s compensation package is “high” and “difficult to understand how it can be based on performance,” said Dan Baker, an analyst with research firm Morningstar. SoftBank did not immediately respond to a request for comment.

SoftBank founder Masayoshi Son said at a earnings presentation earlier this month that he expects about 15 of the 88 companies in the Vision Fund portfolio to go bankrupt.

Son earned 209 million yen ($ 1.9 million), a 9% cut from the previous year. About 40% was paid in stock options.

Although Son’s salary is low compared to Misra and some of its other executives, he also has a 22% stake in the company worth around $ 20 billion. Its equity estimates vary: Forbes beats him a $ 23.4 billion, while Bloomberg lists a value of $ 15.1 billion.
The increase in pay for Misra, who serves as CEO of SoftBank Investment Advisers, comes when startups that raised billions of dollars from Vision Vision are laying off thousands of workers. He was the company’s second highest paid executive last year.
Marcelo Claure, SoftBank’s Chief Operating Officer, took first place, earning 2.1 billion yen ($ 19.6 million). The former telecommunications company executive was commissioned to shoot WeWork. He also helped get the merger of T-Mobile (TMU) is Sprint (S) beyond the finish line.
Wages of executives in Japan they are generally lower than in the United States. A study conducted in December by consulting firm Willis Towers Watson found that the median pay of CEOs in Japan was 156 million yen ($ 1.5 million) in 2018, compared to $ 13.7 million for CEOs in the United States.

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