SoftBank Group Corp. founder Masayoshi Son will join India's prime minister and Asia's richest man at the wedding of Oyo founder Ritesh Agarwal next week, a rare social outing for a billionaire whose ties to the country run deep.
It's a sign of the Japanese billionaire's enduring relationship with India, where SoftBank has invested billions into startups and solar power. Son, who is the biggest backer of affordable stays firm Oyo parent Oravel Stays Ltd., has been a mentor to the 29-year-old Agarwal since 2015. An early investor in Oyo, Son provided a personal guarantee in 2019 to Agarwal's $2 billion loan from Japanese banks allowing the younger entrepreneur increase his stake in Oyo to over a third.
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