• November 11, 2026
Musk’s One-Word “Default” Wipes 10% Off SoftBank: Inside Son’s $64.6B OpenAI Gamble

One word from Musk — “Default” — wiped 10.83% off SoftBank shares and dragged the Nikkei down 5.96%, costing Masayoshi Son $3.9 billion in a day. Then the earnings bomb: a ¥597.2 billion special loss confirming loosened turbine orders. Behind the $64.6B OpenAI bet sits a $40B bridge loan, 9.75% junk bonds and ¥32.59 trillion of debt.