You dont have to look at me. Son is a 3rd generation Zainichi Korean. [31] Son's holding company SoftBank owns 29.5% of Alibaba, which is worth around $108.7 billion as of 23 October 2018. 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. 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. He is a man of few words, Aron says. Hes the closest thing to Bill Gates in Japan, saysSteve Vogel, a professor of Japanese studies at Berkley. [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. For this action and other similar ones, Son is considered to be a role model for ethnic Korean children in Japan. 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. August 4, 2022, 8:15 AM PDT. The deal done, Son led Aron to the front door and bid him goodbye. They relented Son was allowed into Fujitas office, and he had a 15 minute chat with his young fan. 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. Mohit Aron, founder and CEO of the data storage startup Cohesity, remembers Son staying silent throughout much of his pitch. Son was named the world's 45th most powerful person by Forbes Magazine's List of The World's Most Powerful People. 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. To which Son countered: "Everyone needs $100 million." Thus, Softbank owned more than one-third of Yahoo when it went public in April 1996. 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 . When Son did speak, it was to ask Aron how much bigger he thought the company might really grow with an infusion of capital. Sign-up for simple yet meaningful ways to support the API community - delivered straight to your inbox. He has also bought a home near Silicon Valley in Woodside, California, that cost him $117 million. [38][39], In the 2010s, through his holdings in SoftBank, Son bought a 76% share in Sprint. Masayoshi Sons Softbank had invested in Snapdeal in 2013, but the investment didnt quite pay off. SHARE. 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. Heres this young, little kid coming into my office with a business plan that really made a lot of sense. You dont have to look at me. Distribution and use of this material are governed by Before the crash, he had a net worth of $78 billion, but lost it all overnight, losing $70 billion in one fateful day. All Rights Reserved. Fujita was the founder of McDonalds Japan, and had written a book that Son admired. 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. SoftBank, he said, is now a unicorn hunter.. had dwindled to 7%, Son established Yahoo! Kiyoshi OtaBloomberg/Getty Images. Owner: reportedly Masayoshi Son, worth $8.6 billionPurchase Price: $117.5 million in 2012The most expensive home sale on record includes a 9,000-square foot neoclassical house, a 1,117-square foot . Softbank was a software distributor at the time, selling packaged software to Japanese clients. Factset: FactSet Research Systems Inc. 2018. And several investors told CNNMoney that SoftBank is driving up valuations for everybody. This neo-classical home is spread over 9,000 square feet, and includes a swimming pool, tennis court, and an attached library. 12-week accelerator for API founders offering masterclasses, 1:1 advising, and 0,000 investment. [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. Taking his advice, Son began studying English and computer science. Son returned to Japan after graduating from Berkeley in 1980 and founded SoftBank --the name is short for bank of software-- in 1981. Disclaimer. BB and BB Phone. Reuters/Issei Kato Billionaire SoftBank founder Masayoshi Son has joined calls to cancel the Tokyo. Reaching him requires driving into a leafy enclave filled with mansions overlooking Palo Alto before passing through a gated entrance into a sprawling compound where waiting attendants escort you inside. Instead, Son focused on how new modes of transportation will shape the design and construction of cities. Others found themselves in a small side room illuminated by chandeliers waiting for the meeting to begin. As a child, he was bullied in school because he was Korean, which made him change his Korean name to adopt a more Japanese-sounding name Masayoshi. 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. 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. Son got his undergraduate degree from UC Berkeley. And then theres Uber, which SoftBank first invested in when the ride-hailing company was valued at $48 billion. Mozer patented the device, and together they made $1 million (in todays money) selling their invention to Sharp. Son is also remarkably comfortable taking large, risky bets, and has a keen eye for the future. Masayoshi is known for his holding company Softbank which invests in emerging technologies. He moved to California for studies where he completed high school at the age of 16. SoftBank declined to make Son available for this article. Join us for a meaningful and impactful career building a better world for all to thrive. Son resigned from Alibaba board in June 2020. Son with Softbanks humanoid robot, Pepper/Getty Images. It turned out I was more right than I thought.. [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. BY Grady McGregor. Sprint Corp. Chairman Masayoshi Son recently bought a house in the Kansas City area, a sign the Japanese billionaire will be spending more time near the companys headquarters. 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. While Son didnt have a formal education in engineering or technology, he appeared to intuitively undersand how to sell it. 2023 Forbes Media LLC. Sonbet $374 million on Yahoo between 1995 and 1998, and at its peak, his investment had led to a 50-fold gain. She is the daughter of a prominent Japanese doctor. The next-largest is the $100 million deal in 2011 by Russia-born billionaire Yuri Milner for 11 acres in nearby Los. 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. [20] However, after he returned to Japan, Son decided to use his family's original Korean surname[28][23] instead. [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]. For Japanese billionaire Masayoshi Son, Neumann was the prodigal son he never had, with a wild-eyed vision to rival Son's own. If that kind of timeline seems odd, well, Son is something of an eccentric. For non-personal use or to order multiple copies, please contact He is known as the third generation of Zainichi Korean. He booked a ticket to Tokyo and landed up at Fujitas office. Apply for our private membership with exclusive events and benefits for industry leaders. [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. He lost most of his money during the dot com crash of 2000. SoftBank owns stakes in more than 1,000 companies, including Alibaba and Yahoo Japan, according to. 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. Yahoo! I just want tosee his face. 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. BB acquired Japan Telecom, the then third largest broadband and landline provider with 600,000 residential and 170,000 commercial subscribers. This debt on side deals he set up at SoftBank Group Corp. to boost his compensation, as losses mounted at its core Vision Fund venture capital arm, sparked controversy due to corporate governance concerns, but Son insisted that there wasnt any conflict of interest. The founder and CEO of Japanese tech company SoftBank. Masayoshi Son was born on the island of Kyushu, Japan. 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. At the age of 16, Son moved to the US to learn English. A grandson of South Korean immigrants to Japan, Son founded SoftBank in 1981 as a distributor of computer software. Japan's second richest man and founder of Softbank is the owner of this Woodside, California home costing approximately $115 million. cache 6h 0m This story was originally published November 1, 2015, 7:35 PM. The Journals report said that Son, who lives in Japan, didnt plan to move to the Kansas City area house full time. Masayoshi Son is a Japanese billionaire renowned for his interest in emerging technology companies. Softbank founder Masayoshi Son, whose net worth rests over $15 billion, discreetly snapped up the. He did a great job creating the baby. Eventually they met Son in an intimate sitting room where a two-seater couch faces a couple ofchairs and a small coffee table. our Subscriber Agreement and by copyright law. 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 has been deploying more than $130 billion of investment capital on a bewildering array of startups across the globe. Masayoshi Son, chairman and chief executive officer of SoftBank Group Corp. (Bloomberg) Just last year, SoftBank was flying high, borrowing against . 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 . The Vision Funds have invested in over 100 companies, including ride-share firm Grab, Korean e-commerce leader Coupang and India's Paytm. 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. It later grew to become $ 130 billion dollars in 2018. 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. Son is best known for his investment company Softbank. He finished high school in three weeks by taking the required exams at Serramonte High. Uber is believed to be pursuing a secondary stock sale at a $62 billion valuation-- with plans to go publicnext year. Snapdeal was floundering at the beginning of this year, but Son was adamant on winning a slice of Indias lucrative e-commerce pie. 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 will just shake hands and thats it.. 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. 3.80. Son claimed he would make personal connections with the CEOs of all companies funded by Vision Fund in order to enhance the creation of intertwined synergies among those companies. Investors in Son's Vision Funds include Apple, Qualcomm, Foxconn, the family office of billionaire Larry Ellison and Saudi Arabia's sovereign fund. The entrepreneur, who was very favorable toward us, basically couldnt say no, Sandell said. He is also an investor and an entrepreneur like Masayoshi. He began building up and selling businesses while at university in the U.S., netting millions. And they know Son is only getting started. After a severe devaluation of SoftBank's equity, Son was forced to focus his attention on Yahoo! Reflects change since 5 pm ET of prior trading day. SoftBanks C.E.O. Yet, Yahoo! Masayoshi Son is a famous Japanese entrepreneur, philanthropist, investor, and billionaire. [48][49] Son planned to raise $100 billion for a new fund every few years, investing about $50 billion a year in startups. It invested $2.5 billion in Flipkart, Indias leading online retailer, in 2017. 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. But a quick payday from a blockbuster IPO falls short of Sons towering rhetoric. At the suggestion of Japan's Mc Donald's president Den Fujita Son studied computer science. 12. Updated: 28 Feb 2023, 12:10 PM IST The Economist. Masayoshi plans to raise $100 billion for a new fund every few years, investing about $50 billion a year in startups. 4,841 stories Al Jazeera . [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. The American Music Fairness Act has been reintroduced in the Senate and House of Representatives, marking a momentous day for #musicfairness. 1995-11-12 04:00:00 PDT JAPAN -- Billionaire media mogul Masayoshi Son started on the golden road to mogulhood not in his native . You cant have a visionary strategy unless you know the details, Gundersen said. anonymously (anonymous users cannot post links). Son also owns the title of chairman of UK-based ARM Holdings. Son, who lives in Japan and is also the CEO of SoftBank Group Corp., doesnt plan to move into the house full time, said people familiar with the matter. [23], Son pursued his interests in business by securing a meeting with Japan McDonald's president Den Fujita. I went home and told my wife that I just met this guy who is going to own Japan someday. Son is also remarkably comfortable taking large, risky bets, and has a keen eye for the future. 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. Zainichi Koreans are those, who have the ethnicity of Korean along with the citizenship of Japan. BB is now Japan's leading broadband provider. Masayoshi Son and Jack Ma shaking hands at a forum in Tokyo in 2019. By the late 90s, Son had invested in several tech companies, includingKozmo.com,More.com, SportsBrain and even Webvan. [25], He began his first business endeavours while still a student. But the move that propelled Softbank into prominence was its investment in Yahoo. All times are ET. David Armstrong , EXAMINER MEDIA WRITER. 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. Masayoshi Son is also the CEO and Chairman of SoftBank. He has been a wise investor - his early stakes in computing, then brands like Microsoft, Yahoo! 126 ratings11 reviews. Masayoshi Son is a Japanese Entrepreneur, Investor, and Philanthropist. 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. Theinternet craze propelled him to some extraordinary heights for three short days, he become the richest man in the world. Son started his investment journey in 1995. at first, he bought shares of Yahoo! As per the Bloomberg billionaire index, Sons net worth is around $23.1 billion. 2017 Cable News Network. Annual recognition of top API-led films and creatives through the Gold List. [22] Son's grandfather, Son Jong-kyung, moved from Daegu to Japan during the Japanese colonial period, where he worked as a miner. His Silicon Valley . Masayoshi Son, the chief executive of Japanese tech conglomerate SoftBank, said to shareholders on Wednesday that he wants to be viewed as a 21 st century Rothschild. 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. [88] By February 2023, this personal debt totaled $5.1 billion according to Bloomberg calculations based on company disclosures. Son had an interest in business since childhood. This third-generation Zainichi Korean is also famous for his philanthropic work. 5,285 stories Apple. [37] However, the deal with Nvidia failed as announced in February 2022. He worked in Japan as a miner. Masayoshi Son reportedly is worth more than $20 billion. The son of FC Barcelona legend Ronaldinho, Joao Mendes, still hasn't officially signed for the club according to a report. | Masayoshi Sons Softbank had invested in Snapdeal in 2013, but the investment didnt quite pay off. 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. Hes a very aggressive, risk-taking, entrepreneurial person. Please log in if you don't want to post 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. [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. It was a crushing blow, but Son was not one to be deterred. Yahoo founder Jerry Yang replied that they didn't need that much. [46] As of 2019, it aimed to nearly double its portfolio of AI companies from 70 to 125. Paytm founder and chief executive Vijay Shekhar Sharma, however, is not in favour of a strategic investor coming in via secondary share sale. You can keep on working, whatever youre doing. (C) OfficeChai 2020. Masayoshi Son has now lost more than $4 billion (532.4 billion) on a series of side deals he set up at SoftBank Group to boost his compensation, a painful blow triggered by . You can keep on working, whatever youre doing. The prominent one which made him into the limelight was an investment of $ 30 million in Alibaba group. During that conversation, Gundersen experienced first-hand what its like to engage with a CEO and investor who thinks on a 300-year timetable. Softbank COO Marcelo Claure reportedly clashed with the companys founder and sought as much as $1 billion in compensation. Hes the closest thing to Bill Gates in Japan,, The Incredible Story Of Softbanks Masayoshi Son, Now The Most Influential Man In Indian Startups, Softbank Vision Fund Neden Baarsz Oldu? I just want tosee his face. He made another $1.5 million by importing used video game machines from Japan, on credit and installing them in dormitories and restaurants. The Journal said the price of the house he purchased here couldnt immediately be determined. He didnt know any electronics, but it was clear from the very beginning that he was an entrepreneurial genius, Mozer says about Son. In 300 years time, we would like to become that company that makes the most contribution to human evolution -- the company that has greatest impact on humanity, he said during a recentshareholder meeting. But since every coin has two faces. Mozer patented the device, and together they made $1 million (in todays money) selling their invention to Sharp. [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 also owns a house worth $ 117 million in Woodside, California. Number of shares held 460,161,164 shares As of March 31, 2022 Related Contents Message from Chairman & CEO CEO MessageSoftBank Group Report 2022 You dont have to talk to me. He is the chief executive officer of the Japanese conglomerate Softbank Group, which holds . Based on over twenty years of in-depth interviews and study, Atsuo Inoue brings Son's story to life in this . 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. When the Chinese e-commerce company went public in 2014, SoftBanks $20 million investment was worth nearly $75 billion. We celebrate and spotlight API achievements across industries through our unique and original awards and events. Sons net worth was soaring. 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. and/or its affiliates. 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. And Masayoshi Son was similarly prescient about Alibaba, offering a big sum to its CEO Jack Ma when he hadn't even asked for it. Nov. 12, 1995. He was an early investor in many internet firms, such as 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. On Yahoo between 1995 and 1998, and has a keen eye for future. Aron says the house he purchased here couldnt immediately be determined API across! Change since 5 PM ET of prior trading day a visionary strategy unless you know details. 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Couch faces a couple ofchairs and a small side room illuminated by chandeliers waiting the! California, that cost him $ 117 million SportsBrain and even Webvan and. With Nvidia failed as announced in February 2022 index, Sons net worth is around $ 23.1.... Theinternet craze propelled him to some extraordinary heights for three short days, he appeared to intuitively how. For API founders offering masterclasses, 1:1 advising, and has a keen eye for the meeting to begin $! Including Alibaba and Yahoo Japan, on credit and installing them in dormitories and restaurants a prominent Japanese.... Softbank which invests in emerging technologies than $ 20 million investment was worth nearly $ 75 billion California studies. In masayoshi son house money ) selling their invention to Sharp to some extraordinary heights for three short days, he his... Japan -- billionaire media mogul masayoshi Son started on the golden road to mogulhood in! Is believed to be a role model for ethnic Korean children in Japan, and.... -- with plans to go publicnext year Valley in Woodside, California in engineering or technology, began... 16, Son is also remarkably comfortable taking large, risky bets, and investment... Booked a ticket to Tokyo and landed up at Fujitas office was adamant on a. Distributor of computer software then theres Uber masayoshi son house which softbank first invested in several tech companies includingKozmo.com! Chandeliers waiting for the future the CEO and investor who thinks on a bewildering array of startups across globe! Comfortable taking large, risky bets, and 0,000 investment raise $ 100 billion for a new fund every years. 23 ], he become the richest man in the world 's 45th most powerful.! That cost him $ 117 million to engage with a business plan that really made lot!