Japanese conglomerate Softbank has made unfortunate investments in startups, like WeWork and Uber, that resulted in a record operating loss of $13 billion.
But despite that, Marcelo Claure, CEO of SoftBank Group International and COO of SoftBank Group Corp., still took home an annual salary of some $20 million, according a company filing.
And with some of that cash, Claure — who also owns Bolivian soccer club Bolivar and is chairman and owner of Inter Miami, a Major League Soccer franchise, with David Beckham — just bought a South Florida home.
The executive spent $11.1 million for a spread at 5212 N. Bay Road in Miami Beach, which lines the Intracoastal Waterway dividing the beach from the rest of the city.
The property, built in 1929 and located on a 0.63-acre lot, first went on the market in November 2019 for $13.4 million, then got a price cut in February to 12.9 million, according to Realtor.com.
But instead of moving in, Claure plans on tearing it down.
Sources say the 6-foot-6 CEO plans on demolishing the 5,356-square-foot, four-bedroom, three-bathroom home to build the mansion of his dreams. Listing broker Nelson Gonzalez, of Berkshire Hathaway HomeServices EWM Realty, declined to comment on the deal.
However, he did say that the Miami real estate market is booming. “We’ve had the lowest inventory in some time, thanks to all the tax refugees coming from New York, who are buying left and right,” he tells Gimme Shelter.