Basis

aggregate of member nodes

Member claims 7

This is an aggregate — its evidence is the members' own claims.

• SoftBank revenue ¥7.80T (~$52B) TTM — mostly Arm + telecom operating businesses, not fund fees; net …
• MGX n/a as fee revenue — a state-backed investment vehicle, no operating-cash disclosure; …
• BlackRock fee revenue ~$27.3B TTM ($24.2B FY25, $20.4B FY24); net income ~$6.58B TTM
• PIF no fee revenue (sovereign) — 'operating' is investment return (~8%/yr 2018-2022) + Aramco …
• State Street total revenue ~$15.0B TTM ($13.0B FY24, $13.9B FY25); net income ~$3.22B TTM
• Vanguard revenue not disclosed (private, at-cost); ESTIMATE ~$9-10B/yr (~avg expense ratio ~0.08% x …
• Fidelity revenue $37.7B (2025); operating income $12.7B (2025)

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