SoftBank has made $3.8 billion off its Uber investment

SoftBank invested in Uber in 2017.

Hong Kong (CNN Business)SoftBank CEO Masa Son's big bets on Uber and other tech companies are poised to make the Japanese company a lot of money.

SoftBank (SFBTF) reported Thursday that the value of its investment in the ride hailing company has increased 418 billion yen ($3.8 billion). It invested more than $7 billion in Uber in 2017 through its Vision Fund.
Operating profit for the fiscal year ended in March soared 81% from a year earlier to 2.4 trillion yen ($21.4 billion), SoftBank said in an earnings statement.
More than half of that was driven by the Vision Fund and an affiliated fund, which together pulled in 1.26 trillion yen ($11.4 billion).
    Son has shaken up the tech industry with the $100 billion Vision Fund, buying hefty stakes in high profile startups like Uber, WeWork and Slack. Saudi Arabia committed $45 billion to the fund.
      This week will be a big test for Son's deal making prowess, when Uber holds its highly anticipated initial public offering on Friday.
      The SoftBank Vision Fund is Uber's largest shareholder with a 16.3% stake.