- Tram Ho
People are no stranger to the name Masayoshi Son – the billionaire famous for his investment style “eat a lot”. He was also mentioned in the press recently by the problems related to failed investment deals including WeWork, Oyo …
However, this is not the first time Masayoshi Son has trouble. Learn about the life he just saw, this billionaire has experienced disasters rated as “unlucky” that few investors can imagine.
Losing the greatest amount in human history
Masayoshi Son moved with his family from Japan to California at the age of 16. He graduated from UC Berkeley with a degree in economics and computer science. At 24, Masayoshi Son founded SoftBank in Tokyo. In just one year, SoftBank has developed many programs for personal computers. Always innovating and constantly growing, owner Masayoshi Son spent the next decade turning SoftBank into a powerful media empire.
By the mid-1990s, SoftBank ran a stockbroking company and a satellite TV provider. In addition, he persuaded Yahoo to allow himself to launch Yahoo! Japan – the largest search engine in Japan.
After SoftBank debuted in 1995, Masayoshi Son immediately became a billionaire. For the next five years, he used SoftBank’s raised capital to expand the empire at a rapid pace, by which time the dotcom bubble began to heat up.
By 1999, SoftBank had become one of the largest Internet technology companies in the world. Through SoftBank, Masayoshi Son purchased a large number of shares in dozens of well-known companies such as E * Trade, Alibaba, or Japanese Nippon credit bank.
At times, these investments yielded huge profits and market capitalization of SoftBank once hit a record high of $ 180 billion.
As the owner of 42% of SoftBank’s assets, Masayoshi Son had $ 76 billion in the beginning of 2000 – making him richer than Bill Gates in 3 days. At a time when the bubble reached a record, he sometimes earned $ 1.4 billion a week.
However, after 2 painful years of the stock market, NASDAQ dropped by 76% to make Masayoshi Son become a “super unlucky” billionaire when he lost the largest number of assets in human history. .
The investments that used to bring significant profits to Masayoshi Son 5 years ago are now really devalued. For example, Softbank’s $ 400 million investment in E * Trade has dropped to only $ 22 million. Softbank’s market capitalization dropped to 98% from USD 180 billion to USD 2.5 billion.
Masayoshi Son is said to have lost the largest amount of money in human history. In 2000 and 2001, he lost $ 74.9 billion, his fortune plunged from $ 76 billion to only $ 1.1 billion.
Get up after the crisis
The market rebounded and his stock went up again. He attacked the field of Internet telephony with a commitment to serve digital phone consumers to watch television.
With the attitude of never giving up, he brought Softbank to the position of the third largest telecommunications company in Japan.
After the business in Softbank has been stable for a few years, Son Masayoshi has been involved in many projects in various fields, from telephone transmission equipment, magazine publishing, Comdex exhibition to Internet service. broadband.
When Yahoo was first established in 1995, Son Masayoshi immediately approached Yahoo’s leader, and offered to buy nearly 40% of the company for $ 105 million. This proposal surprised the founder of Yahoo – Mr. David Yang.
“Everyone thought he was crazy. Because it was only madness spending $ 100 million to buy a company stock. But it was simply because he saw the prospect of 15 years later.” Son Masayoshi was right. After nearly two decades of anonymous owners of Yahoo has now become a billionaire, his investment has increased profits dozens of times.
Currently, despite the controversy with failed investments in many tech startups, billionaire Masayoshi Son is still a monument in the global business world.
Recalling the bad period when the dotcom bubble burst, Son said:
” When the bubble burst and I was at its worst, my sense of nonsense was blown away and my flame of competitive spirit was lit. I decided to break the Nippon Telegraph monopoly. & Telephone, the toughest opponent in Japan and I am willing to “ruin” myself if I really have to. “
It was my biggest crisis but at the same time, I started to feel full of life. So some of the problems that come up with startups I’ve invested in are just a small thing when compared to what I’ve been through.
To be honest, when things go in the right direction or succeed, I tend to lose interest. I prefer business ventures. Of course, going through a crisis or fighting with the opponent is not easy, but that’s when I feel this life is worth living . ”
Source : Genk