Claure worked closely with SoftBank chairman and CEO Masayoshi Son, who tapped him to fix WeWork's issues . It was clear if you spent an hour a day with him that his mind was all on business, Mozer says. 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. [67] Son became noted as a stock investor after the meteoric rise of Alibaba Group. Japan Corporation and Alibaba Group Holding Limited and as the chairman of Arm Limited. Yahoo founder Jerry Yang replied that they didn't need that much. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. Snapdeal was floundering at the beginning of this year, but Son was adamant on winning a slice of Indias lucrative e-commerce pie. For three minutes, Son, Its persistence like this thats helped the young fan become the most influential player in Indias startup ecosystem. Within a year, Softbank was already diversifying in 1982, itentered the publishing business, launching two monthly magazines about PCs and software. Masayoshi Son Date of birth: August 11, 1957 Masayoshi Son founded SOFTBANK Corp. Japan (currently SoftBank Group Corp.) in 1981 and has continued to serve as its chairman & CEO. Continue reading your article witha WSJ membership, Already a member? [20] However, after he returned to Japan, Son decided to use his family's original Korean surname[28][23] instead. Masayoshi Nishida Masafumi Tamura: November 17, 2021 () As Lugh continues his life as Illig Balor, he comes up with the idea of opening a cosmetics shop in Milteu in order to . During that conversation, Gundersen experienced first-hand what its like to engage with a CEO and investor who thinks on a 300-year timetable. 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 . 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. Son then invested, While Son didnt have a formal education in engineering or technology, he appeared to intuitively undersand how to sell it. Annual recognition of top API-led films and creatives through the Gold List. He has also bought a home near Silicon Valley in Woodside, California, that cost him $117 million. Son with Softbanks humanoid robot, Pepper/Getty Images. Factset: FactSet Research Systems Inc. 2018. 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. But since every coin has two faces. 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. In 1981, he returned to Japan, and, But the move that propelled Softbank into prominence was its investment in 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 booked a ticket to Tokyo and landed up at Fujitas office. (, 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? Masayoshi Son founded and runs mobile telecom and investment giant SoftBank Group. [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. 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. SoftBank's investment vehicle, the $100 billion Vision Fund, invests in emerging technologies like [] The 2000 dot-com crash hit Son particularly hard. [24], He left to study in the U.S. on the advice of Den Fujita. It was a crushing blow, but Son was not one to be deterred. All Rights Reserved.Terms His youngest brother, Taizo Son, is a serial entrepreneur and investor, having founded GungHo Online Entertainment and the venture capital firm Mistletoe. SHARE. 1) Son is the founder and the CEO of SoftBank, a Japanese telecommunications conglomerate. When something like that happens he doesnt sit back and sulk and become inward looking, the longtime SoftBank employee said. In addition to this incredible work, Masayoshi also serves as a director of Sprint Corporation, Yahoo! Some, like Yahoo and Alibaba, paid off handsomely, helping overshadow losses from notable flops like Kozmo and Webvan. Son returned to Japan after graduating from Berkeley in 1980 and founded SoftBank --the name is short for bank of software-- in 1981. He moved to California for studies where he completed high school at the age of 16. He is a man of few words, Aron says. The usually irrepressible billionaire opened by comparing the devastating impact of the coronavirus outbreak. Zainichi Koreans are ethnic Koreans with permanent residency or citizenship in Japan. He was born in 1957 in Japan, the son of Korean immigrants. Musk's net worth now stands at $187 billion. His company has shed more market value in the past . As a student studying economicsat UC-Berkeley forty years ago, he convinced Forrest Mozer, a professor who had invented a talking calculator for the blind, to join him in building a pocket translator. This third-generation Zainichi Korean is also famous for his philanthropic work. Mr. Masayoshi Son is Japan's second-richest person, with a net worth of more than $30 billion. Placing diverse leaders on the Boards and Advisories of privately-held and newly-listed companies alongside the top multicultural funds. Is It? Expert cultural consultation and services to ensure authentic storytelling. He raised another 1.5 million this way. [30], Son was an early investor in internet firms, buying a share of Yahoo! The founder and CEO of Japanese tech company SoftBank. in economics at the University of California, Berkeley. It focused on distributing software developed by other companies, before branching into computer trade shows and tech magazines. The entrepreneur, who was very favorable toward us, basically couldnt say no, Sandell said. He gave $ 20 million to the victim of the Tohoku earthquake and tsunami (2011). Facebook (Meta) Success Storyof Biggest Social Networking Site! 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. Updated: 16 Mar 2022, 02:35 PM IST Bloomberg. Investors in Son's Vision Funds include Apple, Qualcomm, Foxconn, the family office of billionaire Larry Ellison and Saudi Arabia's sovereign fund. Son has made his fortune, lost it all, built it up again, and at the age of 60, is still raring to go. 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. 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. in 1995 and investing a $20 million stake into Alibaba in 1999; he was briefly the richest person in the world before the stock market crashed. Today it means big data, biotechnology, robotics, agriculture, ride-hailing and autonomous vehicles. Later, he studied B.A. To help make his case, Barnard brought along a seven-foot tower of mustard greens and bok choy grown by his startup. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. In the same year, Softbank signed an agreement with Nvidia. Sons fund would go on to lead a $200 million investment round in Plenty after the meeting. Sonbet $374 million on Yahoo between 1995 and 1998, and at its peak, his investment had led to a 50-fold gain. Son started his investment journey in 1995. at first, he bought shares of Yahoo! [89], Son met his wife, Masami Ohno, the daughter of a prominent Japanese doctor, while both were students at the University of California, Berkeley. You can keep on working, whatever youre doing. Masayoshi Son is a Korean-Japanese multibillionaire technology entrepreneur, investor, and philanthropist who was born on August 11th, 1957. Reflects change since 5 pm ET of prior trading day. At a time when most CEOs look no further ahead than the next quarter, Son forges ahead with a 300-year planfor his company. He also has announced to donate the rest of his salary until retirement. Suite of prestigious accelerating programs and resources for the next generation of API creative visionaries. At the age of 16, Son moved to the US to learn English. 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. Home For You The Morning Edition Saved . Zainichi Koreans are those, who have the ethnicity of Korean along with the citizenship of Japan. It made him inclined toward technology and he later became a tech entrepreneur and an investor. Worried due to Fukushima nuclear disaster, he started investing in the direction of a nationwide solar power network. Son spent more than $100 million on a 9-acre estate in Silicon Valley with a 9,000 square foot mansion. Everyone is trying to figure out how it might impact their subset of the market.. [1] He is the founder, chairman and chief executive officer (CEO) of the Japanese holding company SoftBank, CEO of SoftBank Mobile and chairman of UK-based Arm Holdings. It said Sons house was in Kansas City, Kan., but was close to Sprint CEO Marcelo Claures home in the Mission Hills neighborhood of Kansas City.. Masayoshi Son is the billionaire founder and CEO of Japanese holding company SoftBank. He effortlessly straddles the Japanese and Western business worlds, a quality that stood him in good stead while making business deals with his foreign counterparts. At the suggestion of Japans Mc Donalds president Den Fujita Son studied computer science. This copy is for your personal, non-commercial use only. Masayoshi Son was one of those who suffered the most as his company's share price plummeted and . Son appeared to play that card very publicly last year. WeWorkcontrolled by billionaire Masayoshi Sons SoftBank Grouphas unveiled its flagship office tower in Singapore as the company expands in the Asian financial hub, which is among its fastest growing markets. [31] Son's holding company SoftBank owns 29.5% of Alibaba, which is worth around $108.7 billion as of 23 October 2018. August 4, 2022, 8:15 AM PDT. Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. 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. 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. [50] But the amount was scaled down due to lack of investing partners beyond Softbank Group itself and Masayoshi Son. Heres this young, little kid coming into my office with a business plan that really made a lot of sense. Reuters/Issei Kato Billionaire SoftBank founder Masayoshi Son has joined calls to cancel the Tokyo. Son got his undergraduate degree from UC Berkeley. 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. After attending two years of high school, he ended upstudyingEconomics at UC Berkley. On the advice of Japans McDonalds president Den Fujita. Even though Son got a relatively late start at his acting career, it took just a few years for him to become a star. He effortlessly straddles the Japanese and Western business worlds, a quality that stood him in good stead while making business deals with his foreign counterparts. Definitive award for the 100 APIs who had the most impact on culture and society over the past year. I survived.. 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.. Lifes too short to do anything small, he says. SoftBank owns stakes in more than 1,000 companies, including Alibaba and Yahoo Japan, according to. As per the Bloomberg billionaire index, Sons net worth is around $23.1 billion. Son started rebuilding immediately. A grandson of South Korean immigrants to Japan, Son founded SoftBank in 1981 as a distributor of computer software. Son was a 3rd generation "Zainichi Korean," he naturalized as a Japanese citizen in 1990. He founded the Japanese holding company, SoftBank, and serves as its Chief Executive Officer (CEO). At the suggestion of Japan's Mc Donald's president Den Fujita Son studied computer science. (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. Later, they married and had two daughters. He doesnt say much. Instead, Son focused on how new modes of transportation will shape the design and construction of cities. They relented Son was allowed into Fujitas office, and he had a 15 minute chat with his young fan. Masayoshi Son is a Japanese Entrepreneur, Investor, and Philanthropist. Son is a 3rd generation Zainichi Korean. 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. "[87], By November 2022, according to the Financial Times, Masayoshi Son personally owed SoftBank $4.7bn because of growing losses on the Japanese conglomerates technology bets, which have also rendered the value of his stake in the groups second Vision Fund worthless. Taking his advice, Son began studying English and computer science. He worked in Japan as a miner. The Journal said Claure encouraged Son to buy the house so he could hold meetings in Sprints principal offices rather than at offices in San Carlos, Calif., where he had been meeting with Sprint executives. 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. Then Son decided to take matters into his own hands . 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. 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. Kiyoshi Ota/Bloomberg/Getty Images Alibaba has suffered a crisis of confidence in recent months as it faces scrutiny from. He made another $1.5 million by importing used video game machines from Japan, on credit and installing them in dormitories and restaurants. Read the latest breaking news from Masayoshi Son and from over 100 premium publishers, unwalled and ad free with one subscription. Son also owns the title of chairman of UK-based ARM Holdings. We're reshaping commerce by building the largest API entrepreneurial ecosystem of best-in-class API founders and leading investors. The first ever English language biography of Masayoshi Son, Japan's foremost IT revolutionary and SoftBank's founder, chairman and CEO. . Due to this, he holds the second position on the list of Japans richest people. At first, he made an electric translater and sold it to a Japanese MNC Sharp Corporation for $1.7 million. Not everyone celebrates this. You can keep on working, whatever youre doing. She is the daughter of a prominent Japanese doctor. The inside story of how it all went wrong. Apart from owning Softbank and mobiles, he is also the chairman of UKs Arm holdings. Before the crash, he had a net worth of $78 billion, but lost it all overnight, losing $70 billion in one fateful day. And several investors told CNNMoney that SoftBank is driving up valuations for everybody. 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. 2023 Forbes Media LLC. Updated: 28 Feb 2023, 12:10 PM IST The Economist. He sought to rebuild his empire, this time creating a business that brought broadband services to Japan. Son is also remarkably comfortable taking large, risky bets, and has a keen eye for the future. Masayoshi Son I'm the king of debt. White House. Once the world's biggest investor in startups, SoftBank reported that it had invested just $300 million into startups, down more than 90% from last year. We celebrate and spotlight API achievements across industries through our unique and original awards and events. Paytm founder and chief executive Vijay Shekhar Sharma, however, is not in favour of a strategic investor coming in via secondary share sale. [29], Founder, CEO and largest shareholder of SoftBank, by December 2022, Masayoshi Son had a stake of 34.2% in the company. Masayoshi Son is a Japanese billionaire renowned for his interest in emerging technology companies. He is known as the third generation of Zainichi Korean. Most stock quote data provided by BATS. All content of the Dow Jones branded indices S&P Dow Jones Indices LLC 2018 And they know Son is only getting started. He started exploring the business sector while still a student. [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. The Alibaba deal is arguably the signature achievement of his career. He was interested in business since childhood. Son resigned from Alibaba board in June 2020. It invested $2.5 billion in Flipkart, Indias leading online retailer, in 2017. You cant argue with the fact that hes been successful in the past, Kaplan said. As of August 2014, Forbes ranks him as the richest Japanese and sixth-richest Asian, worth an estimated $17.5 billion. Not far from the storied venture capital firms on Sand Hill Road, theres a palatial estate where Masayoshi Son, Silicon Valleys newest kingmaker, shapes the future. 12. Nov. 12, 1995. Currently, Yahoo BB is prominent broadband in Japan. 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. [90] They have two daughters. For the year ended March 2022, the two Vision Funds reported a $27 billion loss. Marketing and community activations to ensure the successful debut of creative projects. Fujita was the founder of McDonalds Japan, and had written a book that Son admired. His Silicon Valley . Its launched a $100 billion Vision Fund, through which it aims to steer the course of technological development for the planet. 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. 3.80. Armed with Alibabas returns, Softbank is now redoubling its efforts into investing in startups around the world. News Corp is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. The buy price, initially set at $40bn (cash and Nvidia shares) when first announced in September 2020, had risen closer to an estimated $66bn by 2022 given the intervening hike in Nvidia's stock that would make this deal the biggest deal in the semiconductor market. 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