Bachelor of Arts/Science, University of California, Berkeley. Masayoshi Son I'm the king of debt. Son was named the world's 45th most powerful person by Forbes Magazine's List of The World's Most Powerful People. Instead, he will stay there during more frequent visits to Sprints headquarters. He also spent $117 million on a house in Woodside, California, near Silicon Valley. As per the Bloomberg billionaire index, Sons net worth is around $23.1 billion. [citation needed], Son attended the University of California, Berkeley. During his negotiations with Uber, Son casually told reportersthat hed be just as happy investing in Lyft instead. Rising Son. BroadBand in September 2001 with Yahoo! Note: VirtualGlobetrotting is an entertainment website is and is not associated Matt Barnard remembers time moving slowly in that side room as he awaited his chance to convince a man he described as larger than life to bet on his indoor farming startup, Plenty. Placing diverse leaders on the Boards and Advisories of privately-held and newly-listed companies alongside the top multicultural funds. Son is now worth about $15 billion-- and, remarkably, maintains his tremendous appetite for risk and long-term thinking. His youngest brother, Taizo Son, is a serial entrepreneur and investor, having founded GungHo Online Entertainment and the venture capital firm Mistletoe. [91] He lives in Tokyo in a three-story mansion that is valued at $50 million and that has a golf range with technology to mimic the weather conditions and temperature of the worlds top golf courses. All rights reserved. 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. His Silicon Valley . [27], Son used his family's adopted Japanese surname for much of his childhood. The inside story of how it all went wrong. After a severe devaluation of SoftBank's equity, Son was forced to focus his attention on Yahoo! Its been barely a year since the Vision Fund officially launched, but, SoftBank has scored some modest wins with the Vision Fund. Masayoshi Son is Japan's second-richest person, with a net worth of more than $30 billion. He lost most of his money during the dot com crash of 2000. Masayoshi Son (Japanese: , romanized: Son Masayoshi, Korean: , romanized: Son Jeong-ui) (born 11 August 1957) is a Japanese billionaire technology entrepreneur, investor and philanthropist.A 3rd generation "Zainichi Korean", he naturalized as a Japanese citizen in 1990.He is the founder, chairman and chief executive officer (CEO) of the Japanese holding company SoftBank, CEO . .css-16c7pto-SnippetSignInLink{-webkit-text-decoration:underline;text-decoration:underline;cursor:pointer;}Sign In, Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. [21] In 2019, a second Vision Fund was created with a target of $108 billion, of which $38 billion would come from Softbank itself. Softbankbecame the primary shareholder in Yahoo, and set up Yahoo Japan, its Japanese subsidiary. Aron told him it could one day capture much of the worlds data. It invested $2.5 billion in Flipkart, Indias leading online retailer, in 2017. You cant have a visionary strategy unless you know the details, Gundersen said. He is the chief executive officer of the Japanese conglomerate Softbank Group, which holds . All times are ET. Theinternet craze propelled him to some extraordinary heights for three short days, he become the richest man in the world. The first ever English language biography of Masayoshi Son, Japan's foremost IT revolutionary and SoftBank's founder, chairman and CEO. By the late 90s, Son had, Masa Son (left) with Yahoo founder Jerry Yang (right), Alibaba, of course, has ended up becoming one of the most valuable companies in the world, and Softbanks stake has now grown to an, What has led to Sons sustained success? Annual recognition of top API-led films and creatives through the Gold List. In investments also the risk of losing money balance higher returns probability. Later he moved towards Alibaba with a $ 20 million stake. He is also an investor and an entrepreneur like Masayoshi. It was a crushing blow, but Son was not one to be deterred. Facebook (Meta) Success Storyof Biggest Social Networking Site! Son sits on an investment committee that performs a final review of potential investments. Sprint employees perhaps will soon be seeing more of Masayoshi Son around the Overland Park headquarters. He is known as the third generation of Zainichi Korean. had dwindled to 7%, Son established Yahoo! The Alibaba deal is arguably the signature achievement of his career. Privacy Policy. Doing so means surpassing the performance of major indices like the S&P 500, which gained 19% in 2017, says Steven Kaplan, who teaches entrepreneurship and finance at the University of Chicago Booth School of Business. The dotcom bubble exploded and affected businesses across the world. A WarnerMedia Company. Masayoshi plans to raise $100 billion for a new fund every few years, investing about $50 billion a year in startups. It also has large stakes in Oyo and Grofers, and thanks to its $100 billion Vision Fund, is still willing to back any successful startups that may emerge in the country. | At the suggestion of Japans Mc Donalds president Den Fujita Son studied computer science. [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. At the beginning of the year, the net worth of the owner of Twitter was $137 billion. Based on over twenty years of in-depth interviews and study, Atsuo Inoue brings Son's story to life in this . A grandson of South Korean immigrants to Japan, Son founded SoftBank in 1981 as a distributor of computer software. We celebrate and spotlight API achievements across industries through our unique and original awards and events. The Japanese billionaire and SoftBank founder Masayoshi Son 's bullish bets on tech stocks helped him make $12 billion in profits for the June quarter while his technology investment firm racked . Masayoshi Son is going to bolster the coffers of his SoftBank Group with a $34 billion gain from cutting its stake in Chinese e-commerce giant Alibaba. Number of shares held 460,161,164 shares As of March 31, 2022 Related Contents Message from Chairman & CEO CEO MessageSoftBank Group Report 2022 [37] However, the deal with Nvidia failed as announced in February 2022. And all of his investments can be traced back to the pay-out he received from US computing firm Sharp almost 40 years ago after selling one of his . Hes a very aggressive, risk-taking, entrepreneurial person. It turned out I was more right than I thought.. Credit Karma Success Story, About Founder & FAQs, BYD Auto | Success Story of the Leading Automotive Company, Naveen Tewari | Indian entrepreneur in mobile advertising and technology platform, Tony Robbins | Struggle story of an American author, Mother Teresa | Story of angle of the slums, Sunitha Krishnan | Success story of a Social Activist, Cristiano Ronaldo | Highest paid athlete of the World. To help make his case, Barnard brought along a seven-foot tower of mustard greens and bok choy grown by his startup. Claure worked closely with SoftBank chairman and CEO Masayoshi Son, who tapped him to fix WeWork's issues . Heres this young, little kid coming into my office with a business plan that really made a lot of sense. Son also owns the title of chairman of UK-based ARM Holdings. Nov. 12, 1995. But he made another move that would define his career for the next decade he invested $30 million in a little-known Chinese startup called Alibaba. Eric Gundersen, the CEO of the open source mapping startup Mapbox, says Son didnt even mention maps during a discussion that led to Vision Fund leading a $164 million investment round. After graduating from the University of California, he started a Unison in Oakland which was later handed over to a Japanese Electronic company Kyocera. Son got his undergraduate degree from UC Berkeley. Son started his investment journey in 1995. at first, he bought shares of Yahoo! And several investors told CNNMoney that SoftBank is driving up valuations for everybody. 3.80. Mozer patented the device, and together they made $1 million (in todays money) selling their invention to Sharp. 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. But its not just Snapdeal, Paytm and Flipkart Softbank also is the biggest investor in Ola, and is also an early investor in InMobi. All Rights Reserved.Terms Join us for a meaningful and impactful career building a better world for all to thrive. Factset: FactSet Research Systems Inc. 2018. Thats not entirely true, according to a spokesperson for SoftBank Investment Advisors. and Alibaba, of which SoftBank reportedly owns nearly 30%. During that conversation, Gundersen experienced first-hand what its like to engage with a CEO and investor who thinks on a 300-year timetable. In 1995, Son. When he was 16, Masayoshi Son decided he wanted to meet Den Fujita, one of Japans most famous entrepreneurs. Paytm founder and chief executive Vijay Shekhar Sharma, however, is not in favour of a strategic investor coming in via secondary share sale. The Journals report said that Son, who lives in Japan, didnt plan to move to the Kansas City area house full time. The fund, backed by the likes of Apple and Saudi Arabias Public Investment Fund, has already pumped $30 billion into companies including Uber, WeWork, and Slack. Masayoshi Son owns real estate worth $45 million in Tokyo and real estate worth $117.5 million in the Silicon Valley, according to Business Insider. He has also bought a home near Silicon Valley in Woodside, California, that cost him $117 million. [93], When he went to the United States at 16 to attend high school and then the University of California Berkeley, he decided to use his real Korean surname. As of February 2023, Masayoshi Japan's net worth is estimated to be roughly $30 Billion. 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 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. After gorging on a record 183 deals last year, Masayoshi Sons SoftBank has come down to earth amid deteriorating economic conditions that have erased billions of dollars from the valuations of technology startups. His second business idea was to import second-hand Japanese video game and install it in dormitories and restaurants. Shifting Fortunes: Masayoshi Son is personally liable for about $5 billion under compensation deals done with Softbank, reports Bloomberg. "[23], In 2011 Son pledged to donate 10 billion yen ($120 million) and his remaining salary until retirement to support victims of the 2011 Thoku earthquake and tsunami.[94]. http://www.wsj.com/articles/sprint-chairman-masayoshi-son-buys-a-house-near-sprints-headquarters-1446236397. anonymously (anonymous users cannot post links). The son of FC Barcelona legend Ronaldinho, Joao Mendes, still hasn't officially signed for the club according to a report. and Alibaba, of which SoftBank reportedly owns nearly 30%. For non-personal use or to order multiple copies, please contact FC Barcelona legend Ronaldinho's son Joao Mendes has made his debut for the club against Manchester United. He is the founder of SoftBank. He marveled at how Son was able to discuss ideas that were multi-decades out before going back to specific customers and industry details in the present. Fujita was the founder of McDonalds Japan, and had written a book that Son admired. BY Grady McGregor. Son was studying in United State when he met his wife Masami Ohno. Experts estimate that its the most wealth lost by an individual ever, and Softbanks shares lost 99% of their value. The. But since every coin has two faces. Son was a child when his Korean parents moved to Japan, and he grew up poor. He also has announced to donate the rest of his salary until retirement. By his own account, Son is laying the foundation for a company, and, by extension, a personal legacy, that endures for centuries. [74][75][76][77][78] By October 2021, Masayoshi Son had accelerated the pace of his startup investments quintupling the number of companies in his Vision Fund 2 portfolio in less than 9 months, SoftBank was cutting more deals with fewer staff than ever and the average investment amount per company had fallen from $943 million in Vision Fund 1 to $192 million in Vision Fund 2. [51][52], As of 2020, the first fund had invested in 88 companies including Coupang,[53] Didi,[54] Doordash,[55] Fanatics,[56] Grab,[57] Oyo,[58] Paytm[59] Uber,[60] and WeWork,[61] but had experienced an awkward fall from grace[62][63][64][65] as the COVID-19 pandemic and a Chinese anti-monopoly crackdown[66] accelerated the exposure of the Japanese investment management conglomerate's portfolio weaknesses. Son has three brothers. But Masa swooped in and offered the startup $100 million at a $500 million valuation. A Biography of Masayoshi Son. [23] His father raised pigs and chickens on that land, and started an illegal sake business that eventually became successful enough for his family to become the first people in town to own a car. [18], Masayoshi Son was born as the second of four sons in Tosu (, Tosu-shi), a city in the eastern part of Saga Prefecture on the island of Kyushu, Japan.[1][19][20][21]. The next-largest is the $100 million deal in 2011 by Russia-born billionaire Yuri Milner for 11 acres in nearby Los. Masatoshi Ito, honorary chairman of retailing giant Seven & i, saw his fortune rise 6% to $4.35 billion as the group mulls selling department stores. Masayoshi Son owes $4.7bn to SoftBank following tech rout Market crash also wipes out value of Japanese founder's stake in second Vision Fund Masayoshi Son's liabilities to his own company. [31] Son's holding company SoftBank owns 29.5% of Alibaba, which is worth around $108.7 billion as of 23 October 2018. Son is the founder and CEO of the holding company SoftBank. When the Chinese e-commerce company went public in 2014, SoftBanks $20 million investment was worth nearly $75 billion. This story was originally published November 1, 2015, 7:35 PM. Son had an interest in business since childhood. Cable News Network. Son pondered that pitch for 30 seconds before saying OK and shaking Arons hand, sealing a deal to lead a $250 million investment round in the startup. He lost billions in the dot-com bust, but sinking $20 million intoAlibaba in 2000 helped revive his fortune. Masayoshi Son is a Japan-based Millionaire, a tech entrepreneur, and an investor. The Vision Funds have invested in over 100 companies, including ride-share firm Grab, Korean e-commerce leader Coupang and India's Paytm. Please log in if you don't want to post Although Softbanks Yahoo! In the same year, Softbank signed an agreement with Nvidia. There's a $60 billion reason why SoftBank Group Corp. founder Masayoshi Son might feel a little down. To hand over UK chip designer Arm Limited for $ 40 billion. Still, he does meet with the CEO of every company SoftBank invests in, according to a longtime SoftBank employee speaking on condition of anonymity to discuss internal company matters. You can keep on working, whatever youre doing. 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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. From the start, Son focused on how he could help change society with technology, said the longtime SoftBank employee. Expert cultural consultation and services to ensure authentic storytelling. Son started rebuilding immediately. - Lumost Podcast. Son sold the device to Sharp in a deal he said netted him close to $1 million -- an early win for the young entrepreneur. [40][41], In response to the Fukushima Daiichi nuclear disaster in 2011, Masayoshi Son criticized the nuclear industry for creating "the problem that worries Japanese the most today"[42] and engaged in investing in a nationwide solar power network for Japan. Before the crash, he had a net worth of $78 billion, but lost it all overnight, losing $70 billion in one fateful day. Son likes to say he is preparing for the day when all sectors of society and industry will be redefined by super-intelligent machines. and/or its affiliates. Its certainly not news that one investor can push another aside, but most of them cant brandish a $100 billion checkbook. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. Son said, I probably would have become much more conservative, just as other Japanese. He is widely reported to have seen his paper wealth fall by $70 billion in 2000. Is It? Near the top of that list is WeWork, an eight-year-oldstartup that provides trendycoworking spaces in 80cities worldwide. At the suggestion of Japan's Mc Donald's president Den Fujita Son studied computer science. Masayoshi Son is now personally on the hook for about $4.7 billion on side deals he set up at SoftBank Group Corp. to boost his compensation, after mounting . In December 2016 at Trump Tower, Son promised that SoftBank would lead $50 billion in investments in U.S. companies and create 50,000 jobs. The Eternal Optimism of Masayoshi Son. Its launched a $100 billion Vision Fund, through which it aims to steer the course of technological development for the planet. Son, who. His father and other Koreans illegally built their houses on land that was owned by Japan National Railways, which caused them trouble with the authorities. It has been a tough year for Japans SoftBank and its CEO Masayoshi Son, but some of their new fintech investments may just pay off. 20ms. Sons fund would go on to lead a $200 million investment round in Plenty after the meeting. (, SoftBank Keeps Minting Billionaires Despite WeWork-Sized Misses (, SoftBanks Epic Losses Reveal Masayoshi Sons Broken Business Model, Bloomberg (23 August 2022), Forbes Magazine's List of The World's Most Powerful People, "[ ] () , IT ", "Masayoshi Son's $58 Billion Payday on Alibaba", "Inside the eccentric, relentless deal making of SoftBank's Masayoshi Son", "The dangerous approach of SoftBank's Masayoshi Son", "Masayoshi Son: Inside the eccentric world of the controversial Japanese billionaire investor", "SoftBank: Fallacies of past performance; learnings from SoftBank - The Economic Times", "SoftBank blazes a trail in losing money on tech bets", "A Japanese Gambler Hits the Jackpot With Softbank", "First Bitcoin, Now WeWork: Is Masayoshi Son the Worst Investor Ever? Updated: 28 Feb 2023, 12:10 PM IST The Economist. The billionaire said many . At first, he made an electric translater and sold it to a Japanese MNC Sharp Corporation for $1.7 million. [32][33][34] Although SoftBank's stake in Yahoo! Yahoo! 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. As of December2022[update], Son ranks 67th on the Forbes list of The World's Billionaires 2022,[12] despite having had for many years the distinction of being the person who had lost the most money in history (more than $59bn[13] during the dot com crash of 2000 alone, when his SoftBank shares plummeted),[14] a feat surpassed by other billionaires[15][16][17] in the following decades due to the volatile nature of the stock market, the shortcomings of financial risk and unavoidable changes in asset valuation. Son then invested billions in both of Snapdeals competitors, Paytm and Flipkart, ensuring that hed havea stake inany company that would eventually win Indias e-commerce race. He was interested in business since childhood. 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. At age 19, Son became confident that computer technology would ignite the next commercial revolution after being enamoured by a microchip featured in a magazine. SoftBank's investment vehicle, the $100 billion Vision Fund, invests in emerging technologies like [] Some were ushered into a large conference room with an enormous table, spotless marble floors and ornate woodwork. The 2000 dot-com crash hit Son particularly hard. Son capitalized on the rise of personal computing in the 1980s and bet so heavily on the dot-com boom of the 1990s that he is said to have at one point owned 25%of the Internet. Mohit Aron, founder and CEO of the data storage startup Cohesity, remembers Son staying silent throughout much of his pitch. The Wall Street Journal reports that Son, chairman of Sprint and CEO of SoftBank Group Corp., has purchased a house in the Kansas City area. 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. Multiple investors said startups may feel pressure to accept SoftBanks funding regardless of whether they want it, simply to prevent SoftBank from handing that money to a rival and upending the market. Largest annual gathering of API luminaries and leaders to celebrate the A100 List. Zainichi Koreans are ethnic Koreans with permanent residency or citizenship in Japan. Sonbet $374 million on Yahoo between 1995 and 1998, and at its peak, his investment had led to a 50-fold gain. stake soon dropped to 7%, Softbank made benefited from Yahoo broadband which was released in September 2001. The Embrace was unveiled on Friday in Boston, where Martin Luther King Jr. and Coretta Scott King met, and the abstract sculpture quickly earned both praise and derision. Not everyone celebrates this. When Son did speak, it was to ask Aron how much bigger he thought the company might really grow with an infusion of capital. Sons Of The Forest Behind Only Hogwarts Legacy As 2023s Biggest Launch, Ronaldinhos Son Still Hasnt Officially Signed For FC Barcelona - Reports, Ronaldinhos Son Makes FC Barcelona Debut Against Manchester United, Masayoshi Sons SoftBank Vision Fund Posts $5.5 Billion Quarterly Loss, Pulls Back On Startup Investments, Big Bet Actor Son Suk-Ku Discusses Being Shy And Becoming A Star, A Mothers Journey To Save Her Son Through Cannabidiol Therapy, Nurturing Talent In The Workforce: Promoting From Within, Martin Luther King Jr.s Son Defends Controversial New Monument That Drew National Attention, Prince Harry Says Princess Diana Would Be Heartbroken By Her Sons Fractured Relationship, SoftBanks Asia Fintech Investments Could Still Pay Off Big, WeWork Unveils Its Flagship Asia-Pacific Office Tower In Singapore Amid Narrowing Losses, SoftBank To Gain $34 Billion By Cutting One-Third Of Alibaba Stake, SoftBanks Startups Insist The Bruised Investor Still Expects Growth Despite The Economic Downturn, Japans 7-Eleven Tycoon Bucks The Trend By Doubling Down On Convenience Stores, Hey Masayoshi Son, I Have A Bridge To Sell You, Softbank COO Exits After Reported Fallout With Founder Masayoshi Son Over Pay, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. He doesnt say much. For three minutes, Son, Its persistence like this thats helped the young fan become the most influential player in Indias startup ecosystem. And they know Son is only getting started. He often quotes Yoda, passionately prepares for the singularity, and has been known to make big bets on companies based upon what he once called his sense of smell. He plays an active role in SoftBanks investment decisions, and Aron recalled being told that Son has final say on each Vision Fund deal. Sprint owner Masayoshi Son reportedly buys house in Kansas City area The Kansas City Star Updated November 01, 2015 7:47 PM Masayoshi Son File photo by SHANE KEYSER skeyser@kcstar.com Sprint. He sought to rebuild his empire, this time creating a business that brought broadband services to Japan. It sold in 2012 for $117 million to SoftBank Chief Executive Masayoshi Son. Eventually they met Son in an intimate sitting room where a two-seater couch faces a couple ofchairs and a small coffee table. He founded the Japanese holding company, SoftBank, and serves as its Chief Executive Officer (CEO). He is a man of few words, Aron says. Mr. Within a year, Softbank was already diversifying in 1982, itentered the publishing business, launching two monthly magazines about PCs and software. Yet some in Silicon Valley worry SoftBanks massive investments could create a venture funding arms race and allow unprofitable startups to keep chugging along with questionable business models. And then it calculates the spin and the speed of the ball and so it rolls on the course partially and depending on where it lands, the whole . Leading fund investing in passionate Asian and Pacific Islander (API) entrepreneurs whose companies are transforming industries. After a decade-long bull run, the amount of money flowing into startups globally declined by a third in 2022. All Rights Reserved. SoftBanks C.E.O. Masayoshi Son is no stranger to vast sums of money. 35% of Son's total stake . . Yahoo founder Jerry Yang replied that they didn't need that much. Masayoshi Son is a Japanese billionaire renowned for his interest in emerging technology companies. This neo-classical home is spread over 9,000 square feet, and includes a swimming pool, tennis court, and an attached library. Masayoshi Son is the billionaire founder and CEO of SoftBank, Asia's leading tech conglomerate with interests in telecom, internet, e-commerce, online gaming, broadband, media, etc. The founder and CEO of Japanese tech company SoftBank. (Bloomberg) -- Masayoshi Son is now personally on the hook for about $5.1 billion on side deals he set up at SoftBank Group Corp. to boost his compensation, as losses mounted at its core Vision. All content of the Dow Jones branded indices S&P Dow Jones Indices LLC 2018 Mozer patented the device, and together they made $1 million (in todays money) selling their invention to Sharp. Sprint's principal owner and chairman, Masayoshi Son, has bought a house in Mission Hills near the home of chief executive Marcelo Claure, who hailed the purchase as a show of confidence.. Select from premium India Media Murdoch of the highest quality. He will just shake hands and thats it.. Masayoshi Son, chairman and chief executive officer of SoftBank, left, speaks while Jack Ma, former chairman of . A house in Woodside, masayoshi son house, Berkeley also bought a home near Silicon Valley emerging technology companies are Koreans. Billion a year, the amount of money the A100 List from the start, Son founded SoftBank in as! Original awards and events we celebrate and spotlight API achievements across industries through our unique original... 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Needed ], Son founded SoftBank in 1981 as a distributor of computer....