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(C) OfficeChai 2020. Masayoshi Son is a famous Japanese entrepreneur, philanthropist, investor, and billionaire. Son at a 2016 press conference/Getty Images. He is the founder of SoftBank. Due to this, he holds the second position on the list of Japans richest people. Fujita was the founder of McDonalds Japan, and had written a book that Son admired. While Son didnt have a formal education in engineering or technology, he appeared to intuitively undersand how to sell it. Softbank COO Marcelo Claure reportedly clashed with the companys founder and sought as much as $1 billion in compensation. Son looked to new opportunities, including investing in broadband services in the early 2000s, acquiring Sprint for $20 billionin 2013 and buying multiple robotics companies in 2017 -- among them Alphabets Boston Dynamics, which builds robots that run, jump and climb stairs. Is It? Lane, the analyst, says the first successful IPO for one of SoftBanks big bets -- likely Uber next year -- should help convince skeptics to support Sons ambitious investment strategy. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Son is also remarkably comfortable taking large, risky bets, and has a keen eye for the future. At the age of 16, Son moved to the US to learn English. He was born in 1957 in Japan, the son of Korean immigrants. [38][39], In the 2010s, through his holdings in SoftBank, Son bought a 76% share in Sprint. He lost billions in the dot-com bust, but sinking $20 million intoAlibaba in 2000 helped revive his fortune. The second child and son of Cian and Esri, Lugh is the designated heir of the House of Tuatha D, taught in both the arts of medicine and assassination by his father. Leading fund investing in passionate Asian and Pacific Islander (API) entrepreneurs whose companies are transforming industries. He was an early investor in many internet firms, such as Yahoo! Thats how it is when youre the visionary leader of SoftBank, one of the worlds most influential and aggressive technology firms. in economics at the University of California, Berkeley. After a severe devaluation of SoftBank's equity, Son was forced to focus his attention on Yahoo! SoftBank Group Corp. founder Masayoshi Son increased the amount of stock pledged as collateral to financial institutions to 175.25 million shares, or about 35% of his total stake in the Japanese . He also has announced to donate the rest of his salary until retirement. FC Barcelona legend Ronaldinho's son Joao Mendes has made his debut for the club against Manchester United. 2023 Forbes Media LLC. Son repeatedly called Fujitas assistants, asking for a meeting, but his requests were ignored successful businessmen dont take time out of their busy schedules to meet eager 16-year-olds. Later, he studied B.A. Son has a house in California that he purchased for reportedly close to $120 million. Related by financial asset: SoftBank Group Corp. Related by origin of wealth: internet, telecom, Related by education: University of California, Berkeley. Insists That the Company Is Undervalued. Bernard Arnault Success Story | CEO of LVMH | Investor, Andy Jassy Success Story CEO of Amazon | Facts | Life Lessons, Paytm Success Story Founder, Funding| Case Study, Tim Cook Success Story | CEO of Apple Journey & Biography, Kishore Biyani | Success story of Indias Modern Retail King, Jawed Karim Success Story | Co-Founder of YouTube, Sean Parker Success Story | Entrepreneur and Philanthropist, Cameron Diaz | Success Story of the Globally-Recognized Actress, Vin Diesel | Success Story of the Multifaceted Artist, Rachel McAdams | Success Story of the Oscar-Nominated Actress, OYO Success Story | Case Study | Business Model | Facts & More, Lenskart Success Story | Indias #1 Eyewear Brand. During SoftBanks annual shareholder meeting in June, Son said he plans to devote "97% of my time and brain" to investing in technology companies. Son is also remarkably comfortable taking large, risky bets, and has a keen eye for the future. This company, he told shareholders, is ready to become next Alibaba. The choice to namedrop his most famous investment may say as much about the pressure on Son to find yet another Alibaba-sized opportunity as it does about his actual enthusiasm for WeWork. Masayoshi Son is the billionaire founder and CEO of Japanese holding company SoftBank. Mozer patented the device, and together they made $1 million (in todays money) selling their invention to Sharp. It has a technologically advanced golf range with the same weather and temperature as worlds leading Golf courses. [31] Son's holding company SoftBank owns 29.5% of Alibaba, which is worth around $108.7 billion as of 23 October 2018. [citation needed], Son attended the University of California, Berkeley. BB acquired Japan Telecom, the then third largest broadband and landline provider with 600,000 residential and 170,000 commercial subscribers. Masayoshi Son is no stranger to vast sums of money. China's Ant group and Masayoshi Son-led SoftBank, two of the largest investors in Paytm's parent One97 Communications, are looking at reducing their holding in the fintech major. He is the Chairman of the UK-based Arm Holdings. [2], Since Son founded SoftBank in 1981, he has made many investments, but the vast majority of those deals failed, and his reputation as an investor rests almost solely on his $20 million investment in Alibaba Group in 2000, a stake that was worth $130 billion in 2018. I just want tosee his face. The American Music Fairness Act has been reintroduced in the Senate and House of Representatives, marking a momentous day for #musicfairness. In 1981, he returned to Japan, and, But the move that propelled Softbank into prominence was its investment in Yahoo. Announcing the deal, SoftBank said the combination of Arm and Nvidia would create a computing company "that will lead the era" of artificial intelligence. He raised another 1.5 million this way. 35% of Son's total stake . [82] SoftBank's bad timing-prone, impulsive investment decisions regarding previously overhyped and consequently overvalued startups like Klarna, had plunged in value while some other investment firms had even been able to cash in before the startups' comedown to reap hundreds of millions of dollars in profit. Preeminent community for API creatives, entrepreneurs, and social impact leaders. Meet Masayoshi Son, the Japanese investor with a $21 billion fortune whose SoftBank mega-fund just lost $10 billion from its market value after reports of risky tech investments Katie Warren and. Son said, I probably would have become much more conservative, just as other Japanese. [44], In July 2018, coverage indicated that Son "would underwrite most of 100 GW" of a planned 275 GW of new renewable provision in India by 2027. [20] However, after he returned to Japan, Son decided to use his family's original Korean surname[28][23] instead. [32][33][34] Although SoftBank's stake in Yahoo! Such meetings have grown increasingly frequent since last year, when Son launched the Vision Fundto invest in technology startups that he believes will fundamentally change the world. [88] By February 2023, this personal debt totaled $5.1 billion according to Bloomberg calculations based on company disclosures. It later grew to become $ 130 billion dollars in 2018. Son resigned from Alibaba board in June 2020. Within a year, Softbank was already diversifying in 1982, itentered the publishing business, launching two monthly magazines about PCs and software. Internet., Sons net worth soared accordingly, only to collapse when the bubble burst. BB is now Japan's leading broadband provider. Masayoshi Son reportedly is worth more than $20 billion. He called it his cluster of number one strategy -- investing in unicorns that are, or could be, the number one players in the market.. Son has three brothers. During that conversation, Gundersen experienced first-hand what its like to engage with a CEO and investor who thinks on a 300-year timetable. All rights reserved. He started exploring the business sector while still a student. Sonbet $374 million on Yahoo between 1995 and 1998, and at its peak, his investment had led to a 50-fold gain. The entrepreneur, who was very favorable toward us, basically couldnt say no, Sandell said. If that kind of timeline seems odd, well, Son is something of an eccentric. 45: Masayoshi Son - In Photos: The World's Most Powerful People: 2013", "SoftBank founder Masayoshi Son: A 'crazy' billionaire obsessed with the future", "MEDIA; an Entrepreneurial Exception Rides the Internet in Japan", "The David Rubenstein Show: Masayoshi Son", "Japanese-Style Entrepreneurship: An Interview with Softbank'S CEO, Masayoshi Son", "CEO revealed Korean roots to inspire youths facing bigotry in Japan", "SoftBank's Masayoshi Son quietly lifts stake to 34%, edging toward buyout", "SoftBank Emerges as a Big Loser of the Tech Downturn. Son appeared to play that card very publicly last year. Its certainly not news that one investor can push another aside, but most of them cant brandish a $100 billion checkbook. Snapdeal was floundering at the beginning of this year, but Son was adamant on winning a slice of Indias lucrative e-commerce pie. I think theyve completely changed the dialogue, for better or for worse, said Dan OKeefe, managing partner at Apax Digital, a growth equity fund. Turner Broadcasting System, Inc. All Rights Reserved. From the start, Son focused on how he could help change society with technology, said the longtime SoftBank employee. Son got his undergraduate degree from UC Berkeley. Aron told him it could one day capture much of the worlds data. In Japan, his father ran a video game parlour, so he imported early consoles of Pac Man and Space Invaders to the US, and leased them to local bars and restaurants on a profit sharing basis. Masayoshi believed that Computer technology will bring the next revolution in the world. ", "The biggest and fastest net-worth losses of our time", "Elon Musk becomes first person ever to lose $200 billion", "Elon Musk breaks world record for 'worst loss of fortune,' Guinness says", "How Elon Musk, Mark Zuckerberg and the World's 500 Richest Billionaires Lost $1.4 Trillion in a Year", "No. Youre seeing him own the infrastructure for the future., SoftBank takes on Apple and Samsung with new payment app, GM and Softbank are putting $3 billion into self-driving cars, SoftBank CEO gives up control to make Sprint's merger with T-Mobile happen, SoftBank wants to build the world's biggest solar project in Saudi Arabia. In his attempt to make up for SoftBank Group Corp.'s record 3.16 trillion yen ($23.4 billion) net loss this quarter, Chief Executive Officer Masayoshi Son offered two gifts to investors. He has also bought a home near Silicon Valley in Woodside, California, that cost him $117 million. Here's What Comes Next", https://www.bloomberg.com/news/articles/2022-08-23/softbank-s-23-billion-loss-looks-like-more-wework-fun, "Masayoshi Son owes $4.7bn to SoftBank following tech rout", "Masayoshi Son Now Owes SoftBank $5.1 Billion on Side Deals", "Masayoshi Son, SoftBank's worried visionary", "SoftBank's Masayoshi Son, the 'crazy guy who bet on the future", "10 Things You Didn't Know About Masayoshi Son", "Serial Entrepreneur Taizo Son Finds A Welcoming Laboratory For His High-Tech Ideas", "Softbank's Son pledges 120 million salary for quake relief", "Masayoshi Son: The CEO who lost $70bn in a day before conquering the world", https://en.wikipedia.org/w/index.php?title=Masayoshi_Son&oldid=1141670169, UC Berkeley College of Engineering alumni, Short description is different from Wikidata, Articles containing Japanese-language text, Articles containing potentially dated statements from December 2022, All articles containing potentially dated statements, Articles with unsourced statements from August 2022, Articles with unsourced statements from July 2020, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 26 February 2023, at 05:52. However, after a number of high-profile setbacks, Son's investing strategy in the first and second SoftBank Vision Funds established in 2017 and 2019, has been described as one reliant on the greater fool theory. In 1981, he returned to Japan, and set up Softbank with two part-time workers and a small office. Aug 12, 2022. Son had an interest in business since childhood. There were few signs in Sons early days that he would end up becoming the biggest player in the Indian startup space. Morningstar: 2018 SoftBank declined to make Son available for this article. Distribution and use of this material are governed by At first, he made an electric translater and sold it to a Japanese MNC Sharp Corporation for $1.7 million. Masayoshi Son (Japanese: , romanized:Son Masayoshi, Korean: , romanized:Son Jeong-ui) (born 11 August 1957) is a Japanese billionaire technology entrepreneur, investor and philanthropist. But a quick payday from a blockbuster IPO falls short of Sons towering rhetoric. They relented Son was allowed into Fujitas office, and he had a 15 minute chat with his young fan. . [21] In 2019, a second Vision Fund was created with a target of $108 billion, of which $38 billion would come from Softbank itself. Real-time updates and all local stories you want right in the palm of your hand. A 3rd generation "Zainichi Korean", he naturalized as a Japanese citizen in 1990. I went home and told my wife that I just met this guy who is going to own Japan someday. It helps that hes a Japanese businessman who breaks the mould thanks to his education at Berkley, he speaks English, and shakes hands instead of bowing. Son sits on an investment committee that performs a final review of potential investments. After a severe devaluation of SoftBank 's stake in Yahoo as worlds leading golf.. This, he appeared to intuitively undersand how to sell it to with... 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Accordingly, only to collapse when the bubble burst Barcelona legend Ronaldinho 's Son Joao Mendes made... Act has been reintroduced in the dot-com bust, but Son was allowed into Fujitas office, and but! Naturalized as a Japanese citizen in 1990 youre the visionary leader of SoftBank, of! Is no stranger to vast sums of money he returned to Japan, and social impact leaders was diversifying... This company, he naturalized as a Japanese citizen in 1990 his had.

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