The SoftBank Vision Fund paid its UK-based staff an average of $745,000 in the 12 months to the end of March last year, despite presiding over a failed attempt to float shared office space
provider WeWork, says Simon Duke in The Times. According to filings, the investment group handed $146m to the 196 employees of Mayfair-based SB Investment Advisers, which guides the $100bn Vision Fund on allocating its capital.
The firm’s 52 “front-office” staff are believed to have received an “outsized cut of the awards, with some dealmakers being given multimillion-dollar payouts”. However, the payout excluded its three directors. They shared $20.1m over the period, including $15.5m for Rajeev Misra, whose annual pay doubled. SoftBank suffered “heavy losses” in stumping up a $10bn bailout of WeWork following the latter’s failed $47bn New York listing in 2019.
Kris Paterson is a writer for WhatJobs.com