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Isn't that how any large scale investor operates? He's invested some of his own money, and attracted lots more from other investors, primarily oil rich sovereign funds I believe.
I don't think it's a scam at all, he's just invested in a lot of technology companies, some have been successful (and in the interests of transparency, I work for one of them) but others have been abject failures.
I'm not sure where you're getting that in the article. Masa is still by far the largest shareholder of SoftBank with a 35% stake worth about $20 bn.