estate, transportation, and retail. Son claimed he would make personal connections with the CEOs of all companies funded by Vision Fund in order to enhance the creation of intertwined synergies among those companies. Son planned to raise $100 billion for a new fund every few years, investing about $50 billion a year in startups. In 2019, a second Vision Fund was created with a target of $108 billion, of which $38 billion would come from Softbank itself. But the amount was scaled down due to lack of investing partners beyond Softbank Group itself and Masayoshi Son. As of 2020, the first fund had invested in 88 companies including Coupang, Didi, Doordash, Fanatics, Grab, Oyo, Paytm Uber, and WeWork, but had experienced an awkward fall from grace as the COVID-19 pandemic and a Chinese anti-monopoly crackdown accelerated the exposure of the Japanese investment management conglomerate's portfolio weaknesses. Son became noted as a stock investor after the meteoric rise of Alibaba Group. He had invested $20 million in Jack Ma's Alibaba back in 2000 when it was a young Chinese startup company although regrettably passing up early opportunities to invest in both Amazon and Tesla. In addition, he raised his global profile as stock investor since starting Softbank Vision Fund in 2017, creating an unprecedented investment vehicle of almost $100 billion to back technology startups. But by 2021, he was still struggling to persuade investors of the value of his efforts, in part because of fiascoes and troublesome losses with companies such as WeWork, OneWeb, Wirecard, OYO Rooms, Katerra or Greensill Capital, and SoftBank Group's own stock chronically traded far below the value of its assets reflecting a discount associated to tax liabilities, risk, past performance, losses, performance fees and high probability of occurrence of several haircuts given Son’s poor track record while running the Vision Fund and high enthusiasm for investing vast sums in loss-making companies at eye-popping valuations. By October 2021, Masayoshi Son had accelerated the pace of his startup investments quintupling the number of companies in his Vision Fund 2 portfolio in less than 9 months, SoftBank was cutting more deals with fewer staff than ever and the average investment amount per company had fallen from $943 million in Vision Fund 1 to $192 million in Vision Fund 2. In 2022, SoftBank Vision Fund posted a record 3.5 trillion yen loss ($27.4 billion) for its financial year ended on