Distribution and use of this material are governed by 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. 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 . 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. FC Barcelona legend Ronaldinho's son Joao Mendes has made his debut for the club against Manchester United. 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. and Vodafone have proved sound ventures. 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. 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 . And then theres Uber, which SoftBank first invested in when the ride-hailing company was valued at $48 billion. Sign-up for simple yet meaningful ways to support the API community - delivered straight to your inbox. Masayoshi Son I'm the king of debt. All rights reserved. Privacy Policy. Kiyoshi Ota/Bloomberg/Getty Images Alibaba has suffered a crisis of confidence in recent months as it faces scrutiny from. [1] His father is Son Sam-heon. Billionaire Masayoshi Son founded Softbank, a Japanese holding conglomerate, in 1981 and has continued to serve as its chairman & CEO. "What did Masayoshi Son invent?", the answer would . Son likes to say he is preparing for the day when all sectors of society and industry will be redefined by super-intelligent machines. He has also bought a home near Silicon Valley in Woodside, California, that cost him $117 million. But since every coin has two faces. Factset: FactSet Research Systems Inc. 2018. [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. It was a crushing blow, but Son was not one to be deterred. At first, he made an electric translater and sold it to a Japanese MNC Sharp Corporation for $1.7 million. Before I told anybody else, our stock started crashing We almost went bankrupt. It made them face bad consequences. [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. Masayoshi Sons Softbank had invested in Snapdeal in 2013, but the investment didnt quite pay off. Morningstar: 2018 [32][33][34] Although SoftBank's stake in Yahoo! In July, he sold a 9,400-square-foot house at 2060 North Bay Road for $32.3 million. Son is a 3rd generation Zainichi Korean. 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. Experts estimate that its the most wealth lost by an individual ever, and Softbanks shares lost 99% of their value. [27], Son used his family's adopted Japanese surname for much of his childhood. Investors in Son's Vision Funds include Apple, Qualcomm, Foxconn, the family office of billionaire Larry Ellison and Saudi Arabia's sovereign fund. 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. 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. He owns the SoftBank Hawks, a professional Japanese baseball team. Even though Son got a relatively late start at his acting career, it took just a few years for him to become a star. 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. 20ms. "[23], In 2011 Son pledged to donate 10 billion yen ($120 million) and his remaining salary until retirement to support victims of the 2011 Thoku earthquake and tsunami.[94]. Son also owns the title of chairman of UK-based ARM Holdings. [28][23] "If I had stayed all the time in Japan, Mr. During his negotiations with Uber, Son casually told reportersthat hed be just as happy investing in Lyft instead. 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. Son sold the device to Sharp in a deal he said netted him close to $1 million -- an early win for the young entrepreneur. The deal done, Son led Aron to the front door and bid him goodbye. Son started rebuilding immediately. had dwindled to 7%, Son established Yahoo! Son has three brothers. When something like that happens he doesnt sit back and sulk and become inward looking, the longtime SoftBank employee said. Worried due to Fukushima nuclear disaster, he started investing in the direction of a nationwide solar power network. 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. 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. We're changing cultural narratives through authentic and affirming API storytelling. Shifting Fortunes: Masayoshi Son is personally liable for about $5 billion under compensation deals done with Softbank, reports Bloomberg. [89], Son met his wife, Masami Ohno, the daughter of a prominent Japanese doctor, while both were students at the University of California, Berkeley. 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. [Illustration:. All Rights Reserved.Terms [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. 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. After attending two years of high school, he ended upstudyingEconomics at UC Berkley. Taking his advice, Son began studying English and computer science. Son then invested, While Son didnt have a formal education in engineering or technology, he appeared to intuitively undersand how to sell it. His League of Legends live gaming streams, Valorant plays and Super Mario 64 speedruns with his own commentary have helped him garner massive popularity. Son is also remarkably comfortable taking large, risky bets, and has a keen eye for the future. 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. This story was originally published November 1, 2015, 7:35 PM. With the help of some professors, Son created an electronic translator that he sold to Sharp Corporation for $1.7 million. But for all too many of them, Sons team arguably overpaid. [2], Since Son founded SoftBank in 1981, he has made many investments, but the vast majority of those deals failed, and his reputation as an investor rests almost solely on his $20 million investment in Alibaba Group in 2000, a stake that was worth $130 billion in 2018. [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. 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. [30], Son was an early investor in internet firms, buying a share of 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. It was a crushing blow, but Son was not one to be deterred. He was interested in business since childhood. He booked a ticket to Tokyo and landed up at Fujitas office. Softbankbecame the primary shareholder in Yahoo, and set up Yahoo Japan, its Japanese subsidiary. 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. While Son didnt have a formal education in engineering or technology, he appeared to intuitively undersand how to sell it. [47] However, it also invested in companies supposedly focused on revolutionizing real estate, transportation, and retail. Sun never hesitate in doing philanthropy work. To live in Japan, Sons family built houses illegally on the land of the Japan National Railway. Its certainly not news that one investor can push another aside, but most of them cant brandish a $100 billion checkbook. On the advice of Japans McDonalds president Den Fujita. The entrepreneur, who was very favorable toward us, basically couldnt say no, Sandell said. Select from premium India Media Murdoch of the highest quality. 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