The Alibaba deal is arguably the signature achievement of his career. 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. Masayoshi Son reportedly is worth more than $20 billion. 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. Barnard wasnt the only one to have an anxiety-inducing moment in the house. To achieve that grandiose goal, Son continues pursuing bold, almost brash, deals designed to keep SoftBank at the center of any trend he believes will fundamentally shape world. Worried due to Fukushima nuclear disaster, he started investing in the direction of a nationwide solar power network. Son started studying English and computer science. . Masayoshi plans to raise $100 billion for a new fund every few years, investing about $50 billion a year in startups. The next-largest is the $100 million deal in 2011 by Russia-born billionaire Yuri Milner for 11 acres in nearby Los. Masayoshi Son is a famous Japanese entrepreneur, philanthropist, investor, and billionaire. 4,841 stories Al Jazeera . Mohit Aron, founder and CEO of the data storage startup Cohesity, remembers Son staying silent throughout much of his pitch. He plans to stay there during more frequent visits to Sprints headquarters in Overland Park, Kan., they said. Apply for our private membership with exclusive events and benefits for industry leaders. [22] Son's grandfather, Son Jong-kyung, moved from Daegu to Japan during the Japanese colonial period, where he worked as a miner. But Sons future as an investor may depend on proving, as he once put it, that his success with Alibaba was not just one lucky hit.. 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. That could be seen as more of a commitment to overhauling the struggling carrier. The American Music Fairness Act has been reintroduced in the Senate and House of Representatives, marking a momentous day for #musicfairness. Cable News Network. 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. Rival venture capitalists complain that Son and his immense VC fund wield an unprecedented ability to inflate startup valuations and pressure companies to take money they may not need -- or want. This third-generation Zainichi Korean is also famous for his philanthropic work. Based on over twenty years of in-depth interviews and study, Atsuo Inoue brings Son's story to life in this . It later grew to become $ 130 billion dollars in 2018. Its certainly not news that one investor can push another aside, but most of them cant brandish a $100 billion checkbook. Masayoshi Son is a Korean-Japanese multibillionaire technology entrepreneur, investor, and philanthropist who was born on August 11th, 1957. However, after a number of high-profile setbacks, Son's investing strategy in the first and second SoftBank Vision Funds established in 2017 and 2019, has been described as one reliant on the greater fool theory. Softbank would also seriously enter the publishing business in a big way in 1996, acquiring Ziff Davis,the US-based publisher of PC Week Magazine. All of this aside, Son faces a deeper question: Can he invest in enough winners to generate the kind of returns that make his $100 billion experiment worthwhile for investors? 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. Most stock quote data provided by BATS. When Son did speak, it was to ask Aron how much bigger he thought the company might really grow with an infusion of capital. Son also owns the title of chairman of UK-based ARM Holdings. [23], Son pursued his interests in business by securing a meeting with Japan McDonald's president Den Fujita. Bachelor of Arts/Science, University of California, Berkeley. (, 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? When he was 16, Masayoshi Son decided he wanted to meet Den Fujita, one of Japans most famous entrepreneurs. 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. Son then invested, While Son didnt have a formal education in engineering or technology, he appeared to intuitively undersand how to sell it. Masayoshi Son I'm the king of debt. At the suggestion of Japan's Mc Donald's president Den Fujita Son studied computer science. [36][32], In 2020, SoftBank Group agreed to sell U.K. chip designer Arm Limited to U.S. chip-maker Nvidia in a cash and stock deal initially worth $40 billion. 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 a Japanese billionaire renowned for his interest in emerging technology companies. Masayoshi Son Earning Masayoshi Son Assets: House: Masayoshi Son has a $50 million mansion in Tokyo with three stories and a golf range that can simulate the weather and temp of the best golf courses in the world. We're changing cultural narratives through authentic and affirming API storytelling. [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. Son had an interest in business since childhood. It was just tall enough, it turned out, to whack one of the chandeliers. He made another $1.5 million by importing used video game machines from Japan, on credit and installing them in dormitories and restaurants. Theinternet craze propelled him to some extraordinary heights for three short days, he become the richest man in the world. It made them face bad consequences. 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. BB and BB Phone. Softbank COO Marcelo Claure reportedly clashed with the companys founder and sought as much as $1 billion in compensation. So far, SoftBank has accumulated about $1.3 billion in debt. 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. 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. (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. 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. Facebook (Meta) Success Storyof Biggest Social Networking Site! Son said, I probably would have become much more conservative, just as other Japanese. Announcing the deal, SoftBank said the combination of Arm and Nvidia would create a computing company "that will lead the era" of artificial intelligence. But by 2021, he was still struggling to persuade investors of the value of his efforts, in part because of fiascoes and troublesome losses with companies such as WeWork, OneWeb, Wirecard,[70] OYO Rooms, Katerra[71] or Greensill Capital, and SoftBank Group's own stock chronically traded far below the value of its assets reflecting a discount[72] associated to tax liabilities, risk, past performance, losses, performance fees and high probability of occurrence of several haircuts given Sons poor track record while running the Vision Fund[73] and high enthusiasm for investing vast sums in loss-making companies at eye-popping valuations. In spite of his successes, Son didnt stay back in the US. 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. Insists That the Company Is Undervalued. Near the top of that list is WeWork, an eight-year-oldstartup that provides trendycoworking spaces in 80cities worldwide. Sprint in Overland Park declined to comment to a question from The Star seeking to verify the Journals report. Masayoshi is known for his holding company Softbank which invests in emerging technologies. and/or its affiliates. [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. Son was a 3rd generation "Zainichi Korean," he naturalized as a Japanese citizen in 1990. [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]. Hes a very aggressive, risk-taking, entrepreneurial person. It Also Has an Undervalued Stock", "Softbank Group shares slide 3% after Didi, Arm, Grab triple setback", "SoftBank Is Cutting More Deals With Fewer Staff Than Ever (1)", "SoftBank cuts 15% of jobs from Vision Fund arm", "SoftBank Vision Fund posts record $27 billion loss as tech stocks plummet", "Klarna's Slashed Valuation Creates Losers and a Few Winners", "SoftBank CEO 'ashamed' of pride in past profits as record losses prompt cost cuts", "SoftBank suffers as Son's bets on China tech backfire", "The SoftBank Experiment Has Failed. Claure worked closely with SoftBank chairman and CEO Masayoshi Son, who tapped him to fix WeWork's issues . Softbank was a software distributor at the time, selling packaged software to Japanese clients. 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. 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. Masayoshi Son's Woodside Home - $115 million. 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. Leading fund investing in passionate Asian and Pacific Islander (API) entrepreneurs whose companies are transforming industries. 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. The first ever English language biography of Masayoshi Son, Japan's foremost IT revolutionary and SoftBank's founder, chairman and CEO. 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. Theres no one not talking about them. During his negotiations with Uber, Son casually told reportersthat hed be just as happy investing in Lyft instead. .css-16c7pto-SnippetSignInLink{-webkit-text-decoration:underline;text-decoration:underline;cursor:pointer;}Sign In, Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. 2023 Forbes Media LLC. In the past, that meant telecoms and internet firms. Internet., Sons net worth soared accordingly, only to collapse when the bubble burst. He owns the SoftBank Hawks, a professional Japanese baseball team. Masayoshi is the 74 th wealthiest person in the world and 3 rd richest person in Japan. 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. The narrative of SoftBank founder Masayoshi Son has a happier ending, albeit after more ups and downs than the wooden roller-coaster at the PNE. Son was named the world's 45th most powerful person by Forbes Magazine's List of The World's Most Powerful People. Please log in if you don't want to post He had invested $20 million in Jack Ma's Alibaba back in 2000 when it was a young Chinese startup company[68] although regrettably passing up early opportunities to invest in both Amazon and Tesla. Son is best known for his investment company Softbank. 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. 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.. It made him inclined toward technology and he later became a tech entrepreneur and an investor. Masayoshi Sons Softbank had invested in Snapdeal in 2013, but the investment didnt quite pay off. [89], Son met his wife, Masami Ohno, the daughter of a prominent Japanese doctor, while both were students at the University of California, Berkeley. Select from premium India Media Murdoch of the highest quality. Masayoshi Son is a Japan-based Millionaire, a tech entrepreneur, and an investor. Masayoshi Son is Japan's second-richest person, with a net worth of more than $30 billion. Sun never hesitate in doing philanthropy work. BroadBand in September 2001 with Yahoo! by Atsuo Inoue. Son bet so heavily on online ventures that people took to calling him Mr. Son has a house in California that he purchased for reportedly close to $120 million. It invested $2.5 billion in Flipkart, Indias leading online retailer, in 2017. Son started his investment journey in 1995. at first, he bought shares of Yahoo! Do Not Sell, States have a $1.4 trillion pension problem, For gig economy workers in these states, rights are at risk. He doesnt say much. 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. Instead, Son focused on how new modes of transportation will shape the design and construction of cities. The Vision Funds have invested in over 100 companies, including ride-share firm Grab, Korean e-commerce leader Coupang and India's Paytm. Not everyone celebrates this. Mr. Is It? The deal done, Son led Aron to the front door and bid him goodbye.

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