Softbank based paid its Vision Fund CEO Rajiv Mishra double last year despite losses of billions. Most analysts take the company’s move as shocking. Originally technology firm SoftBank invests through its Dream Fund in different businesses.It has invested in many businesses including Alibaba, Ola, Uber, Snapdeal, Paytm, Oyo, InMobi and others. Softbank paid Mishra a gross compensation of $15 million (about Rs 113 crore) in 2019-20 FY, according to the regulatory filings. It is more than double the amount it was a year before.
In such a scenario the company gave Mishra this compensation because last year the Vision Fund incurred a massive loss of $18 billion (about Rs 1.35 lakh crore). The consequence of the vision fund’s failure is that the Softbank Company has incurred an operational failure of $13 billion (about Rs 97 thousand crore) in total.Experts are taken aback by the change by the organization. Analyst Dan Baker says Mishra ‘s pay is too small, considering the company ‘s results.
It is difficult to comprehend the pay is dependent on success in any way. Mishra is the second highest paid employee in SoftBank. His higher salary is only that of COO Marcelo Cler. The company paid him a salary of $ 20 million (about Rs 150 crore) last year, with an increase of 17 percent. It is also surprising that SoftBank founder and CEO Masayoshi Son took a salary of only 19 million dollars (about 14 million rupees) as the salary, with a deduction of nine percent last year.