How Japan's Second Richest Man, Masayoshi Son, Made His Billions
Japan's second richest man, Masayoshi Son, made billions out of innovative ideas. His journey of being a billionaire is jaw-dropping impressive!
Although there is not much to know about his private life, there are rumors that Masayoshi Son had been good at technology and commerce from a very young age. He was able to make billions due to these innovative ideas. Seeing the promise of a prospering global career in Masayoshi Son, his role model and the president of Japan's McDonald's, Den Fujita, encouraged him to take up his studies in America.
In 1972, by the age of 16, Son had shifted to California from Japan to finish high school. Next, he studied at the University of California in Berkeley. By the time he finished majoring in engineering, he had started to nurture his ambitious imaginations regarding commercial and technological revolutions. He began business as a student, developed a translator chip under his mentors' guidance at college, and is known to have sold it for $1.7 million to Sharp Corporation.
Thus began his legendary career, and things only got better from here. He imported used video game devices and machines from Japan to install them at restaurants and dormitories. This project earned Son a handsome amount of $1.5 million.
But Masayoshi Son met with his big break in 1980 when he founded the famous SoftBank. Today SoftBank is a major investor in several startups and entrepreneurship like Uber, WeWork, Flipkart, and DoorDash. It is known to have a significant share in Alibaba Express as well.
Son is also known to have acquired a share in Yahoo in his early days of establishing a flourishing career. The established Yahoo Broadband is now known to be one of the leading providers of landline and connectivity services in 2001. Today it has one lakh seventy thousand subscribers after Yahoo BB acquired Japan Telecom as well.
The following are some ways in which Masayoshi Son made his billions, and there's a lot to learn from his genius.
Masayoshi Son is not merely an investor who is filthy rich and has funds to spare on fancy projects. He is an innovator and developer himself. He shows top-tier involvement in all the projects he invests in because he has expert-level knowledge about commerce and technology.
Son could reach this level of expertise because he specialized in several disciplines related to his potential career. He began with engineering at the University of Berkeley, but then he also started studying Computer science and English, at his mentor Fujita's recommendation. That is not all. Masayoshi Son even has a BA degree in Economics from the University of Berkeley.
Masayoshi Son was well aware that he needed an army of associates to build a well-fortified technological empire. He was known to have Den Fujita by his side from a young age. As he grew alongside his dream, he surrounded himself with business associates and developers who were the best in the field. He keeps them employed by paying them handsome amounts and respecting their integrity. His top six executives at SoftBank were known to earn about $80 million a year.
Son is also known to be in close contact with other billionaires and top-tier persons worldwide. This list includes Bill Gates, Rupert Murdoch, Larry Ellison, Tadashi Yanai, and the like. He is also known to associate with Saudi Arabia with their massive investment in SoftBank.
Son's expanded scope of learning and knowledge has made him even more confident as an investor. He is known to defy the norms of Silicon Valley investment style and stand out as way more successful than his colleagues and competitors.
His SoftBank may have suffered a few investment failures, but Son is known to always get back on his feet stronger. His VisionFund is a name justified as it invests itself more wholeheartedly when it believes in a vision. He also owns a Silicon Valley estate priced at approximately $117 million. His Silicon Valley colleagues comment that his methods are quirky and unconventional but have yielded massive success.
Masayoshi Son is a Zainichi Korean, a group of ethnic Koreans who permanently reside in Japan. No doubt, this great personality is a source of inspiration for many across the globe. His greatness even extends to a consistent level of philanthropy.
Masayoshi Son's net worth is estimated to be around 45 billion dollars, but there's not much that he takes home from his share of income. He is known to have pledged a massive amount to Japan for its earthquake victims and their rehabilitation. Masayoshi Son is undoubtedly a force to be reckoned with.
Sources - Forbes, Business Insider, Wikipedia
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