Japanese billionaire Masayoshi Son, CEO of Tokyo-based SoftBank Group, a Japanese multinatinational telecommunications and internet corporation, is in the process of acquiring Fortress Investment Group for a whopping 3.3 billion dollars. Fortress owns Denver-based Intrawest, developer and operator of destination resorts and a luxury adventure travel company, which in turn owns Tremblant Resort.
Son recently became widely known to the public when he visited Donald Trump in New York last December and pledged to invest $50 billion to create and spur American start-ups, generating 50,000 jobs overall.
SoftBank’s purchase of Fortress has puzzled many financial experts. SoftBank holds communications, Internet startup and e-commerce companies while Fortress is a private equity management firm with holdings in real estate, leisure, transports and infrastructure. Bloomberg analysts believe Son’s latest acquisitions indicate that he may be transforming SoftBank into a more diversified investment company.
There is no indication of any change in regards of Fortress’ operations, its current executive team will still be heading the investment firm as a subsidiary of SoftBank. Mont-Tremblant resort assures the sale of Fortress will not affect its regular activity.