Masayoshi Son cancels his visit to Saudi investment conference

In purely financial terms, the disappearance and killing of journalist Jamal Khashoggi’s at the Saudi Embassy in Turkey could turn out to be a costly affair for Saudi Arabia.

On Tuesday, the Wall Street Journal reported citing a conference representative, Masayoshi Son, SoftBank Group Corp’s Chief Executive will not be attending the investment conference in Saudi Arabia.

The high profile cancellation comes midst mounting pressures on Riyadh over the killing of journalist Jamal Khashoggi in highly suspicious circumstances. Many high-profile companies have pulled out their executives from attending the conference.

Son’s absence from the meet, is in stark contrast to last year’s inaugural event, where Son, 61, was a notable presence and lent credence to Saudi Crown Prince Mohammed bin Salman’s efforts to bring foreign investments into the kingdom.

SoftBank’s spokeswoman did not immediately respond to requests for comments.

Incidentally, more than 50% of the $93 billion that was raised in 2017 to create SoftBank’s Vision Fund came from Saudi Arabia.

The potential involvement of Saudi Arabia’s Crown Prince over Khashoggi disappearance and brutal killing has caused alarm across the world. It comes at a time when there is rising political tensions in the Kingdom.

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Categories: Creativity, Economy & Finance, Entrepreneurship, HR & Organization, Strategy

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