Masayoshi Son

Masayoshi Son ( Japanese : 孫 正義Hepburn : His Masayoshi , Korean : 손정의 His Jeong-ui ; born August 11, 1957) is a Japanese businessman of Korean descent who is the founder and chief executive officer of the Japanese telecommunications corporation SoftBank , the chief executive officer of SoftBank Mobile , current chairman of Sprint Corporation and chairman of Arm Holdings . [2] According to Forbesmagazine, its estimated net worth is US $ 24.5 billion and is the richest man in Japan, [1] despite having the distinction of losing the most money in history (about $ 70bn during the dot com crash of 2000). [3] Forbes also describes him as a philanthropist .

It was named the world’s most powerful person by Forbes Magazine’s List of The World’s Most Powerful People in 2013. [4]

Early life and education

Ethnically Korean, His grandparents immigrated to Japan from Korea. It was born in a small town on Japan’s southern island Kyushu . [5] [6]

It’s a family adopted the Japanese surname Yasumoto ( 安 本 ) , trying to avoid the discrimination that was used in Japan , and its used this surname as a child. [6] His pursed his interests in business by securing a meeting with Japan’s McDonald’s president Den Fujita . Taking his advice, His studying English and computer science . [7]

At age 16, His moved from Japan to California and finished high school while staying with friends in South San Francisco. After spending two years at Holy Names University , he was transferred to the University of California, Berkeley , where he studied in economics and computer science . Enamored by a microchip featured in a magazine, his at age 19 became confident that computer technology would ignite the next commercial revolution.

His first business endeavors began while being a student. With the help of some professors, he invented an electronic translator that he sold to Sharp Corporation for $ 1.7 million. He made another $ 1.5 million by importing used video game machines from Japan, on credit, and installing them in dormitories and restaurants. [6]

Its graduated from UC Berkeley with a BA in Economics in 1980, [8] and started Unison in Oakland, California , which has since been purchased by Kyocera . Decided to use its Korean-style His surname Her When He cam back to Japan to Become a role model for ethnic Korean children there. [9]

Yahoo! and Alibaba

Its was an early investor in the internet firms, buying a share of Yahoo! in 1995 and investing $ 20 Million in the Alibaba stake in 1999. [10] [11] [12] Although SoftBank’s stake in Yahoo! had dwindled to 7%, Its established Yahoo! BroadBand in September 2001 with Yahoo! Japan in which he still owned a controlling interest. After a severe devaluation of SoftBank’s equity, it was forced to focus its attention on Yahoo! BB and BB Phone. So far, SoftBank has accumulated about $ 1.3 billion in debt. Yet, Yahoo! BB acquired Japan Telecom, the then third largest broadband and landline provider with 600,000 residential and 170,000 commercial subscribers. Yahoo! BB is now Japan’s leading broadband provider.

Vodafone KK

On March 17, 2006, Vodafone Group announced it has agreed to sell Vodafone KK to SoftBank for approximately 1.75 trillion Japanese yen (approximately US $ 15.1 trillion). On April 14, 2006, SoftBank and Vodafone KK jointly announced that Vodafone will be changed to “new, easy-to-understand and familiar company name and brand”. Masayoshi Son is the CEO of Vodafone KK

ARM

In July 2016 SoftBank announced its plan to acquire ARM Holdings for £ 23.4 billion ($ 31.4 billion). In September 2016 SoftBank announced that the transaction is complete. The total acquisition price was approximately £ 24 trillion ($ 31 trillion). [13] [10]

Sprint Corporation [14]

Through SoftBank Masayoshi Son bought 76% in Sprint . SoftBank has further accumulated shares in Sprint (S); to about 80% ownership.

Investment in solar power

In response to the Fukushima Daiichi nuclear disaster in 2011, Masayoshi Son Criticized the nuclear industry for Creating “the problem worries That The Most Japanese today”, [15] and engaged in investing in a nationwide solar power network for Japan. [16]

Personal Life

He met his wife, Masami Ohno, while in university. They have two daughters. [17]

Philanthropy

In 2011 Masayoshi His pledged to donate 10 trillion yen ($ 120 million) and his remaining salary until retirement to help support victims of 2011 Tōhoku earthquake and tsunami . [18]

References

  1. ^ Jump up to:b “Masayoshi Son” . Forbes .
  2. Jump up^ “Masayoshi’s $ 58 Billion Payday on Alibaba” . Bloomberg.com . 2014-05-08 . Retrieved 2017-12-11 .
  3. Jump up^ Sorkin, Andrew Ross (2010-12-13). “A Key Figure in the Future of Yahoo” . The New York Times . Retrieved 7 April 2012 .
  4. Jump up^ Caroline Howard. “No. 45: Masayoshi Son – In Photos: The World’s Most Powerful People: 2013” . Forbes .
  5. Jump up^ Pham, Sherisse. “SoftBank founder Masayoshi Sound: A ‘crazy’ billionaire obsessed with the future” .
  6. ^ Jump up to:c Andrew Pollack (1995-02-19). “A Japanese Gambler Hits the Jackpot With Softbank” . The New York Times . ISSN  0362-4331 . Retrieved 2017-12-10 .
  7. Jump up^ The David Rubenstein Show: Masayoshi Son. October 11th, 2017, 7:26 AM EDT. URL:https://www.bloomberg.com/news/videos/2017-10-11/the-david-rubenstein-show-masayoshi-son-video
  8. Jump up^ “Masayoshi Son” . Business week . Retrieved 27 March 2013 .
  9. Jump up^ “CEO revealed Korean roots to inspire youths facing bigotry in Japan” . Nikkei Asian Review . Retrieved 21 March 2017 .
  10. ^ Jump up to:b “Masayoshi his goes on a $ 100bn shopping spree” . The Economist . Retrieved 2017-12-11 .
  11. Jump up^ Sender, Henny; Ling, Connie (2000-01-18). “Softbank to Invest $ 20 Million In Hong Kong’s Alibaba.com” . Wall Street Journal . ISSN  0099-9660 . Retrieved 2017-12-11 .
  12. Jump up^ Pfanner, Eric (2014-09-19). “SoftBank’s Alibaba Alchemy: How to Turn $ 20 Million Into $ 50 Billion” . WSJ . Retrieved 2017-12-11 .
  13. Jump up^ “SoftBank complete $ 31 billion acquisition of ARM” . The Verge . Retrieved 2017-12-11 .
  14. Jump up^ “US Securities and Exchange Commission – Homepage” . sec.gov.
  15. Jump up^ Penn, Michael (2011-04-23). “Masayoshi His Castigates the Nuclear Industry” . Shingetsu Blog . Retrieved 31 August 2011 .
  16. Jump up^ Yasu, Mariko (2011-06-23). “Softbank’s Wants CEO at Solar-Powered Japan” . Bloomberg BusinessWeek . Retrieved 2011-08-23 .
  17. Jump up^ hermes (12 December 2016). “SoftBank’s Masayoshi Son, the ‘crazy guy who bet on the future ‘ ” .
  18. Jump up^ “Softbank’s Her Pledges 120 Million Salary for Quake Relief” ,Bloomberg , 2011-04-04.

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