Masayoshi Son, chairman and chief executive officer of SoftBank, left, speaks while Jack Ma, former chairman of . The founder and CEO of Japanese tech company SoftBank. It was just tall enough, it turned out, to whack one of the chandeliers. Related by financial asset: SoftBank Group Corp. Related by origin of wealth: internet, telecom, Related by education: University of California, Berkeley. All Rights Reserved. with this post, location or person. The 2000 dot-com crash hit Son particularly hard. Mighty Flower by Dr. Annabelle Manalo-Morgan is released with Forbes Books. 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. You dont have to look at me. He did a great job creating the baby. [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. 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. Snapdeal was floundering at the beginning of this year, but Son was adamant on winning a slice of Indias lucrative e-commerce pie. Before the crash, he had a net worth of $78 billion, but lost it all overnight, losing $70 billion in one fateful day. 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. 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. SoftBank invested $4.4 billion in WeWork last year, despite the fact the company wasnt actively seeking funding. Apart from owning Softbank and mobiles, he is also the chairman of UKs Arm holdings. At a time when most CEOs look no further ahead than the next quarter, Son forges ahead with a 300-year planfor his company. Billionaire Masayoshi Son founded Softbank, a Japanese holding conglomerate, in 1981 and has continued to serve as its chairman & CEO. I think theyve completely changed the dialogue, for better or for worse, said Dan OKeefe, managing partner at Apax Digital, a growth equity fund. This third-generation Zainichi Korean is also famous for his philanthropic work. Sons fund would go on to lead a $200 million investment round in Plenty after the meeting. 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. When the dotcom bubble swelled in 2000, he had a net worth of an estimated $76 billion. In July, he sold a 9,400-square-foot house at 2060 North Bay Road for $32.3 million. Note: VirtualGlobetrotting is an entertainment website is and is not associated To live in Japan, Sons family built houses illegally on the land of the Japan National Railway. BB acquired Japan Telecom, the then third largest broadband and landline provider with 600,000 residential and 170,000 commercial subscribers. 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. In March 2018, Son took his hand in the solar project development plan for Saudia Arabia. FC Barcelona legend Ronaldinho's son Joao Mendes has made his debut for the club against Manchester United. Zainichi Koreans are ethnic Koreans with permanent residency or citizenship in Japan. Son bet so heavily on online ventures that people took to calling him Mr. Son appeared to play that card very publicly last year. [29], Founder, CEO and largest shareholder of SoftBank, by December 2022, Masayoshi Son had a stake of 34.2% in the company. Experts estimate that it's the most wealth lost by an individual ever, and Softbank's shares lost 99% of their value. Rising Son. Son is best known for his investment company Softbank. SoftBank, he said, is now a unicorn hunter.. Today it means big data, biotechnology, robotics, agriculture, ride-hailing and autonomous vehicles. I just think $100 billion is a bridge too far., Son laid out his plan for crossing that bridge during the shareholder meeting in June. Son has three brothers. "What did Masayoshi Son invent?", the answer would . For three days, I became richer than Bill Gates, Son told Bloomberg TVlast year. 2021 and Alibaba, of which SoftBank reportedly owns nearly 30%. He made another $1.5 million by importing used video game machines from Japan, on credit and installing them in dormitories and restaurants. Largest annual gathering of API luminaries and leaders to celebrate the A100 List. 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. While in university, he met his Physics professor Forrest Mozer, whod invented a speech synthesizer. There's a $60 billion reason why SoftBank Group Corp. founder Masayoshi Son might feel a little down. Masayoshi Son and Jack Ma shaking hands at a forum in Tokyo in 2019. At the age of 16, Son moved to the US to learn English. Under Sons guidance, the Japanese conglomerate, which he founded in 1981, has repeatedly shaken up entire industries with blockbuster acquisitions of companies like Sprint and prescient investments in startups like Alibaba. It was a crushing blow, but Son was not one to be deterred. (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. He gave $ 20 million to the victim of the Tohoku earthquake and tsunami (2011). His second business idea was to import second-hand Japanese video game and install it in dormitories and restaurants. Some, like Yahoo and Alibaba, paid off handsomely, helping overshadow losses from notable flops like Kozmo and Webvan. Scott Sandell, managing partner at New Enterprise Associates, said he was very close to sealing a $30 million investment in a startupat a $180 million valuation. [23], Son pursued his interests in business by securing a meeting with Japan McDonald's president Den Fujita. But the move that propelled Softbank into prominence was its investment in Yahoo. Turner Broadcasting System, Inc. All Rights Reserved. By the late 80s, Softbank hadcreated a system that let people across Japan choose telephone operators with the lowest rates for domestic and long-distance calls that was enormously popular. SoftBank declined to make Son available for this article. BB and BB Phone. Son started rebuilding immediately. Jul 27, 2018 The most expensive home ever sold in California never actually went on the market. How perfect, Barnard said. 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. His Silicon Valley . Masayoshi Son is a Japan-based Millionaire, a tech entrepreneur, and an investor. . The usually irrepressible billionaire opened by comparing the devastating impact of the coronavirus outbreak. MASAYOSHI SON: "In my home in my basement I have a computer-simulated course. 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.. Then Son decided to take matters into his own hands . I just want tosee his face. Softbank COO Marcelo Claure reportedly clashed with the companys founder and sought as much as $1 billion in compensation. 5,285 stories Apple. Uber is believed to be pursuing a secondary stock sale at a $62 billion valuation-- with plans to go publicnext year. [38][39], In the 2010s, through his holdings in SoftBank, Son bought a 76% share in Sprint. 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. Instead, he will stay there during more frequent visits to Sprints headquarters. I survived.. Son was named the world's 45th most powerful person by Forbes Magazine's List of The World's Most Powerful People. #masayoshi #son #richestinJPHow can he be the richest in Japan? our Subscriber Agreement and by copyright law. Suite of prestigious accelerating programs and resources for the next generation of API creative visionaries. Preeminent community for API creatives, entrepreneurs, and social impact leaders. In what could be seen as a precursor to its activities today, SoftBank pumped billions into hundreds of internet startups. Masayoshi Son is a Japanese billionaire renowned for his interest in emerging technology companies. He owns the SoftBank Hawks, a professional Japanese baseball team. 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 . In spite of his successes, Son didnt stay back in the US. He is widely reported to have seen his paper wealth fall by $70 billion in 2000. [37] However, the deal with Nvidia failed as announced in February 2022. [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. Masayoshi Son Yahoo was Jerry Yang's baby. [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. For three minutes, Son pleaded with Fujitas office assistants. His company has shed more market value in the past . . Zainichi Koreans are those, who have the ethnicity of Korean along with the citizenship of Japan. 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. 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. Son had an interest in business since childhood. SoftBank's shares took a hit in 2021 after ride-hailing firm Didi Chuxing, facing pressure from Chinese regulators, decided to delist six months after its U.S. listing and relist in Hong Kong. During that conversation, Gundersen experienced first-hand what its like to engage with a CEO and investor who thinks on a 300-year timetable. Mozer patented the device, and together they made $1 million (in todays money) selling their invention to Sharp. Most stock quote data provided by BATS. Now estimated to have a $20 billion valuation, some criticshave called WeWork overvalued, but not Son. 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. Continue reading your article witha WSJ membership, Already a member? Masayoshi Son's Woodside Home - $115 million. 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. As the owner of Softbank, Masayoshi made hundreds of investments. While at university, Son gave early hints of his entrepreneurial ambitions. Masayoshi Son, chairman of Sprint and CEO of SoftBank Group Corp., recently bought a house near Sprints headquarters, a move seen as a commitment to overhaul the struggling carrier. Investors in Son's Vision Funds include Apple, Qualcomm, Foxconn, the family office of billionaire Larry. [21] In 2019, a second Vision Fund was created with a target of $108 billion, of which $38 billion would come from Softbank itself. It invested $2.5 billion in Flipkart, Indias leading online retailer, in 2017. Although Softbanks Yahoo! His League of Legends live gaming streams, Valorant plays and Super Mario 64 speedruns with his own commentary have helped him garner massive popularity. All rights reserved. But Masa swooped in and offered the startup $100 million at a $500 million valuation. [4] A controversial figure,[5][6][7] Son has been called a gambler,[8] mocked by some specialized media[9] and dubbed the worst investor ever.[10][11]. He was an early investor in many internet firms, such as Yahoo! Worried due to Fukushima nuclear disaster, he started investing in the direction of a nationwide solar power network. Son came up with the idea to use the synthesizer astranslator that would pronounce the word that you were trying to translate, and could be sold at airports. Based on over twenty years of in-depth interviews and study, Atsuo Inoue brings Son's story to life in this . During his negotiations with Uber, Son casually told reportersthat hed be just as happy investing in Lyft instead. [22] Son's grandfather, Son Jong-kyung, moved from Daegu to Japan during the Japanese colonial period, where he worked as a miner. SoftBank has further accumulated shares in Sprint to about 84% ownership. 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 . Before the crash, he had a net worth of $78 billion, but lost it all overnight, losing $70 billion in one fateful day. 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