How billionaire Masa Son is shaking up Silicon Valley By Seth Fiegerman Not far from the storied venture capital firms on Sand Hill Road, there's a palatial estate where Masayoshi Son, Silicon. It sold in 2012 for $117 million to SoftBank Chief Executive Masayoshi Son. There's a $60 billion reason why SoftBank Group Corp. founder Masayoshi Son might feel a little down. Kiyoshi OtaBloomberg/Getty Images. [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. Son said, I probably would have become much more conservative, just as other Japanese. Now, they live in a mansion worth $ 50 million. [23], Son pursued his interests in business by securing a meeting with Japan McDonald's president Den Fujita. [46] As of 2019, it aimed to nearly double its portfolio of AI companies from 70 to 125. In September 2016, SoftBank announced that the transaction was complete. Morningstar: 2018 The 2000 dot-com crash hit Son particularly hard. Son bet so heavily on online ventures that people took to calling him Mr. Its launched a $100 billion Vision Fund, through which it aims to steer the course of technological development for the planet. 2023 Forbes Media LLC. He is a man of few words, Aron says. 35% of Son's total stake . Masayoshi Son is also the CEO and Chairman of SoftBank. [89], Son met his wife, Masami Ohno, the daughter of a prominent Japanese doctor, while both were students at the University of California, Berkeley. Son was studying in United State when he met his wife Masami Ohno. At the beginning of the year, the net worth of the owner of Twitter was $137 billion. [24], He left to study in the U.S. on the advice of Den Fujita. Mighty Flower by Dr. Annabelle Manalo-Morgan is released with Forbes Books. He doesnt say much. Harry said the royal family had shown no willingness to reconcile with him and even accused them of not liking Meghan from the beginning before they even had a chance to know her. Masayoshi Son's last earnings briefing was among his most somber in recent memory. [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. 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]. (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. [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]. 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. Give and help us accelerate the representation, success, and unity of Asian Americans and Pacific Islanders. Apply for our private membership with exclusive events and benefits for industry leaders. When he was 16, Masayoshi Son decided he wanted to meet Den Fujita, one of Japans most famous entrepreneurs. He didnt know any electronics, but it was clear from the very beginning that he was an entrepreneurial genius, Mozer, In spite of his successes, Son didnt stay back in the US. Sprint employees perhaps will soon be seeing more of Masayoshi Son around the Overland Park headquarters. 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. When the Chinese e-commerce company went public in 2014, SoftBanks $20 million investment was worth nearly $75 billion. During his negotiations with Uber, Son casually told reportersthat hed be just as happy investing in Lyft instead. Claure worked closely with SoftBank chairman and CEO Masayoshi Son, who tapped him to fix WeWork's issues . Son is a 3rd generation Zainichi Korean. He was interested in business since childhood. His second business idea was to import second-hand Japanese video game and install it in dormitories and restaurants. [35], In July 2016, SoftBank announced plans to acquire Arm Holdings for 23.4 billion ($31.4 billion) which would be the largest ever purchase of a European technology company. #masayoshi #son #richestinJPHow can he be the richest in Japan? Preeminent community for API creatives, entrepreneurs, and social impact leaders. 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. Related by financial asset: SoftBank Group Corp. Related by origin of wealth: internet, telecom, Related by education: University of California, Berkeley. [1] His father is Son Sam-heon. 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All rights reserved. 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. Son was a 3rd generation "Zainichi Korean," he naturalized as a Japanese citizen in 1990. Even though Son got a relatively late start at his acting career, it took just a few years for him to become a star. Son started his investment journey in 1995. at first, he bought shares of Yahoo! This copy is for your personal, non-commercial use only. with this post, location or person. Masayoshi Son (Japanese: , romanized: Son Masayoshi, Korean: , romanized: Son Jeong-ui) (born 11 August 1957) is a Japanese billionaire technology entrepreneur, investor and philanthropist.A 3rd generation "Zainichi Korean", he naturalized as a Japanese citizen in 1990.He is the founder, chairman and chief executive officer (CEO) of the Japanese holding company SoftBank, CEO . He is the founder of SoftBank. Scott Sandell, managing partner at New Enterprise Associates, said he was very close to sealing a $30 million investment in a startupat a $180 million valuation. Masayoshi Son reportedly is worth more than $20 billion. The Journal said the price of the house he purchased here couldnt immediately be determined. The Embrace was unveiled on Friday in Boston, where Martin Luther King Jr. and Coretta Scott King met, and the abstract sculpture quickly earned both praise and derision. To hand over UK chip designer Arm Limited for $ 40 billion. All Rights Reserved. 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. . 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. 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. Get our picks of API projects and companies to support and celebrate, Gold House is a registered 501(c)(3) nonprofit. You can keep on working, whatever youre doing. 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. Son returned to Japan after graduating from Berkeley in 1980 and founded SoftBank --the name is short for bank of software-- in 1981. [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. He sought to rebuild his empire, this time creating a business that brought broadband services to Japan. BB acquired Japan Telecom, the then third largest broadband and landline provider with 600,000 residential and 170,000 commercial subscribers. The dotcom bubble exploded and affected businesses across the world. At the age of 16, Son moved to the US to learn English. In the past, that meant telecoms and internet firms. [27], Son used his family's adopted Japanese surname for much of his childhood. Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. Son has three brothers. He made another $1.5 million by importing used video game machines from Japan, on credit and installing them in dormitories and restaurants. Yahoo founder Jerry Yang replied that they didn't need that much. To live in Japan, Sons family built houses illegally on the land of the Japan National Railway. All Rights Reserved.Terms What has led to Sons sustained success? [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. Investors in Son's Vision Funds include Apple, Qualcomm, Foxconn, the family office of billionaire Larry. All rights reserved. 1) Son is the founder and the CEO of SoftBank, a Japanese telecommunications conglomerate. $ 20 billion to live in a mansion worth $ 50 million 2000 dot-com crash hit Son particularly.. 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