He became a Japanese citizen in 1990 and is a third-generation "Zainichi Korean." Son bet so heavily on online ventures that people took to calling him Mr. 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. [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 prominent one which made him into the limelight was an investment of $ 30 million in Alibaba group. 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. [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. Alibaba, of course, has ended up becoming one of the most valuable companies in the world, and Softbanks stake has now grown to an astonishing $130 billion, a 2240x return on his original investment. 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. Son is a 3rd generation Zainichi Korean. Not everyone celebrates this. Its persistence like this thats helped the young fan become the most influential player in Indias startup ecosystem. But for all too many of them, Sons team arguably overpaid. Masayoshi Sons Softbank had invested in Snapdeal in 2013, but the investment didnt quite pay off. Masayoshi Son is also the CEO and Chairman of SoftBank. But trouble was around the corner. Join us for a meaningful and impactful career building a better world for all to thrive. 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. Zainichi Koreans are those, who have the ethnicity of Korean along with the citizenship of Japan. 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. Son has always had a penchant for making deals. Kansas City area restaurants with health code violations: Kobi-Q, Lucky Dynasty, more, Chiefs Chris Jones had a great response to trash-talking Eagles player at coin-toss, Three Kansas City police officers shot and injured while executing search warrant, Sid the goofy bison has the zoomies and it was caught on camera at South Dakota zoo, Bullying of referees leads to entire student section being thrown out of Iowa game, Tornado of white birds. Over 2 million geese make pit stop in Missouri, photos show, Tiny space, big windows: Look inside Kansas Citys new shipping container apartments, As investigations mount, injured worker describes Amazons toll, TikTok sets new default time limits for minors, Lilly plans to slash some insulin prices, expand cost cap, Metaverse in spotlight at MWC tech fair even as doubts arise, Truckers collide with EPA over big-rig emission standards. 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. [45], Established in 2017, SoftBank Group's investment vehicle, the $100 billion Vision Fund, was intended to invest in emerging technologies like artificial intelligence (AI), robotics and the internet of things. Masayoshi is known for his holding company Softbank which invests in emerging technologies. SoftBank, he said, is now a unicorn hunter.. You cant argue with the fact that hes been successful in the past, Kaplan said. You dont have to talk to me. [38][39], In the 2010s, through his holdings in SoftBank, Son bought a 76% share in Sprint. He is the founder of 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. cache 6h 0m [30], Son was an early investor in internet firms, buying a share of Yahoo! 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. He raised another 1.5 million this way. Son sits on an investment committee that performs a final review of potential investments. Follow the community book club for monthly book picks that help APIs better understand their identity and culture. Claure worked closely with SoftBank chairman and CEO Masayoshi Son, who tapped him to fix WeWork's issues . 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. As per the Bloomberg billionaire index, Sons net worth is around $23.1 billion. Masayoshi Son is a Japanese billionaire renowned for his interest in emerging technology companies. Masayoshi Sons Softbank had invested in Snapdeal in 2013, but the investment didnt quite pay off. 45: Masayoshi Son - In Photos: The World's Most Powerful People: 2013", "SoftBank founder Masayoshi Son: A 'crazy' billionaire obsessed with the future", "MEDIA; an Entrepreneurial Exception Rides the Internet in Japan", "The David Rubenstein Show: Masayoshi Son", "Japanese-Style Entrepreneurship: An Interview with Softbank'S CEO, Masayoshi Son", "CEO revealed Korean roots to inspire youths facing bigotry in Japan", "SoftBank's Masayoshi Son quietly lifts stake to 34%, edging toward buyout", "SoftBank Emerges as a Big Loser of the Tech Downturn. [28][23] "If I had stayed all the time in Japan, Mr. Softbank COO Marcelo Claure reportedly clashed with the companys founder and sought as much as $1 billion in compensation. You dont have to talk to me. 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. But a quick payday from a blockbuster IPO falls short of Sons towering rhetoric. 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. After a severe devaluation of SoftBank's equity, Son was forced to focus his attention on Yahoo! and Alibaba, of which SoftBank reportedly owns nearly 30%. This neo-classical home is spread over 9,000 square feet, and includes a swimming pool, tennis court, and an attached library. The billionaire said many . 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. To hand over UK chip designer Arm Limited for $ 40 billion. Investors in Son's Vision Funds include Apple, Qualcomm, Foxconn, the family office of billionaire Larry. In 1981, he returned to Japan, and, But the move that propelled Softbank into prominence was its investment in Yahoo. Give and help us accelerate the representation, success, and unity of Asian Americans and Pacific Islanders. He booked a ticket to Tokyo and landed up at Fujitas office. Son is a Japanese millionaire but he has lost the highest amount of money in the history of investment. Yet, Yahoo! But Masa swooped in and offered the startup $100 million at a $500 million valuation. This copy is for your personal, non-commercial use only. [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. Yahoo founder Jerry Yang replied that they didn't need that much. He has also bought a home near Silicon Valley in Woodside, California, that cost him $117 million. and Alibaba, of which SoftBank reportedly owns nearly 30%. 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. White House. You dont have to look at me. Billionaire Masayoshi Son founded Softbank, a Japanese holding conglomerate, in 1981 and has continued to serve as its chairman & CEO. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. During that conversation, Gundersen experienced first-hand what its like to engage with a CEO and investor who thinks on a 300-year timetable. 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. For three minutes, Son pleaded with Fujitas office assistants. Masayoshi is the 74 th wealthiest person in the world and 3 rd richest person in Japan. Number of shares held 460,161,164 shares As of March 31, 2022 Related Contents Message from Chairman & CEO CEO MessageSoftBank Group Report 2022 Mr. Internet was back, and more ambitious than ever. "[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. The 2000 dot-com crash hit Son particularly hard. It was clear if you spent an hour a day with him that his mind was all on business, Mozer says. Son got his undergraduate degree from UC Berkeley. 20ms. Softbankbecame the primary shareholder in Yahoo, and set up Yahoo Japan, its Japanese subsidiary. Masayoshi Son sounds a warning for vision-peddlers everywhere "It's impressive how Mr Goto handles each of Mr Son's impossible tasks but I fear that the company is reaching a limit," the Hong. Eventually they met Son in an intimate sitting room where a two-seater couch faces a couple ofchairs and a small coffee table. SoftBank has been deploying more than $130 billion of investment capital on a bewildering array of startups across the globe. 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. Talent often has to be nurtured and honed, and so the best place to find talent may be within your current workforce. But its not just Snapdeal, Paytm and Flipkart Softbank also is the biggest investor in Ola, and is also an early investor in InMobi. ", "The biggest and fastest net-worth losses of our time", "Elon Musk becomes first person ever to lose $200 billion", "Elon Musk breaks world record for 'worst loss of fortune,' Guinness says", "How Elon Musk, Mark Zuckerberg and the World's 500 Richest Billionaires Lost $1.4 Trillion in a Year", "No. Currently, Yahoo BB is prominent broadband in Japan. I walk into this immaculate and impressive home and manage to almost break a chandelier.. 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. He called it his cluster of number one strategy -- investing in unicorns that are, or could be, the number one players in the market.. 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