Masayoshi Son

Early Life and Background

Masayoshi Son was born on August 11, 1957, in Tosu, Saga Prefecture, Japan. He is a second-generation Zainichi Korean, a term referring to ethnic Koreans who are permanent residents of Japan, often carrying a history of discrimination. His family adopted the Japanese surname 'Yasumoto' during his childhood to mitigate social prejudice, though Masayoshi later reverted to his original Korean surname 'Son' as an adult, a testament to his strong sense of identity. His father, Son Sam-heon, was a businessman who ran various enterprises, including pachinko parlors and restaurants, instilling an entrepreneurial spirit in young Masayoshi. Growing up, Son faced significant social and economic challenges due to his ethnic background, which fueled his determination to succeed and overcome adversity. At the age of 16, influenced by a meeting with McDonald's Japan founder Den Fujita, Son moved to the United States to pursue higher education and greater opportunities, a decision that profoundly shaped his future.

Education

After moving to the United States, Masayoshi Son initially attended high school in California. He quickly demonstrated an exceptional aptitude for learning and business. He enrolled at Holy Names University in Oakland for two years before transferring to the University of California, Berkeley. At Berkeley, he majored in economics and computer science, immersing himself in the burgeoning fields of technology and finance. During his time as a student, Son displayed remarkable entrepreneurial drive. He developed an electronic dictionary that he sold to Sharp Corporation for 100 million Japanese yen (approximately $850,000 at the time), demonstrating his early ability to identify market needs and monetize innovative solutions. He also imported arcade game machines from Japan, placing them in dormitories and local restaurants, further honing his business acumen while still a student. He graduated from the University of California, Berkeley, with a Bachelor of Arts degree in economics in 1980.

Career

Upon returning to Japan in 1980, Masayoshi Son founded his first company, Nihon SoftBank, in 1981, which was later renamed SoftBank. Initially, SoftBank started as a software distribution company, importing PC software and hardware. By 1982, it launched a computer magazine, 'Oh! PC,' and later 'Oh! MZ,' quickly becoming a dominant force in computer publishing in Japan. Son's early vision was to create an information revolution. In the mid-1990s, SoftBank made a pivotal shift, aggressively investing in internet companies. A landmark moment was the establishment of Yahoo! Japan in 1996, a joint venture with Yahoo! Inc., which rapidly became one of Japan's most popular websites. Son's most famous and lucrative investment came in 2000, when SoftBank invested $20 million in the then-unknown Chinese e-commerce startup, Alibaba Group. This investment would eventually grow into one of the most successful venture capital bets in history, yielding returns worth hundreds of billions of dollars.

SoftBank continued its expansion into telecommunications. In 2004, it launched the broadband internet service Yahoo! BB, disrupting the Japanese market with aggressive pricing. In 2006, SoftBank acquired Vodafone K.K., the Japanese subsidiary of Vodafone Group plc, for approximately 1.75 trillion Japanese yen (about $15 billion), rebranding it as SoftBank Mobile. This acquisition transformed SoftBank into a major mobile carrier in Japan. In 2013, SoftBank acquired a 78% stake in the U.S. telecommunications company Sprint Corporation for roughly $21.6 billion, aiming to challenge the duopoly of AT&T and Verizon. Although Sprint later merged with T-Mobile US in 2020, SoftBank retained a significant stake in the combined entity.

A defining moment in Son's career was the launch of the SoftBank Vision Fund in 2017. Backed by sovereign wealth funds from Saudi Arabia and Abu Dhabi, along with other major investors, the Vision Fund aimed to invest up to $100 billion in late-stage technology startups globally, focusing on AI, robotics, and other disruptive technologies. This fund, and its successor Vision Fund 2, deployed capital into hundreds of companies, including Uber, WeWork, Didi Chuxing, and ByteDance, solidifying SoftBank's position as the world's largest tech investor. However, this aggressive investment strategy also led to significant controversies and losses, particularly with the spectacular collapse of WeWork's IPO plans and subsequent bailout, which cost SoftBank billions. Despite these setbacks, Son continues to lead SoftBank Group, pivoting its strategy to focus on capital efficiency and profitability, while still pursuing his long-term vision for an AI-driven future.

Major Achievements

Masayoshi Son's career is marked by several monumental achievements. He successfully built SoftBank from a small software distributor into a global technology and telecommunications powerhouse with a market capitalization often exceeding $100 billion. His early and audacious investment in Alibaba Group, turning $20 million into a stake worth over $150 billion at its peak, stands as one of the most successful venture capital investments in history. He revolutionized Japan's telecommunications sector through the introduction of affordable broadband and the acquisition of Vodafone Japan, transforming SoftBank Mobile into a leading carrier. The creation of the SoftBank Vision Fund, a $100 billion investment vehicle, dramatically altered the landscape of global tech investing, injecting unprecedented amounts of capital into startups and accelerating technological innovation worldwide. He also played a crucial role in bringing the iPhone to Japan through SoftBank Mobile, a move that significantly boosted the company's subscriber base and market presence.

Personal Life

Masayoshi Son is married to Masami Ohno, whom he met during his studies in the United States. They have two daughters. Son is known for his intense work ethic and visionary thinking, often working long hours and maintaining a demanding schedule. He is also a notable philanthropist. Following the devastating 2011 Tohoku earthquake and tsunami in Japan, Son pledged to donate 10 billion Japanese yen (approximately $120 million at the time) of his personal fortune and his entire salary until his retirement to aid the victims. He also established the 'Tohoku Revitalization Fund' to support recovery efforts. His personal philosophy often emphasizes a long-term perspective and a belief in the transformative power of technology to address global challenges. Son has expressed a desire to live to 70 and pass on the torch to a successor, though he remains actively involved in SoftBank's strategic direction.

Legacy

Masayoshi Son's legacy is multifaceted and continues to evolve. He is widely regarded as one of the most influential figures in the global technology and investment sectors. His entrepreneurial spirit, willingness to take massive risks, and unwavering belief in the future of technology have inspired countless entrepreneurs. He successfully built a diversified global technology empire, connecting various internet and telecom services. The SoftBank Vision Fund, despite its controversies, has left an indelible mark on venture capital, demonstrating the potential for large-scale, strategic investments to accelerate technological development. Son's long-term vision, often spanning decades, for an 'information revolution' and an 'AI revolution' has consistently guided his investment decisions. However, his legacy is also marked by a high-risk, high-reward approach that has led to both spectacular successes and significant financial write-downs. Ultimately, Son will be remembered as a bold visionary who dared to invest in the future on an unprecedented scale, profoundly shaping the modern technology landscape and challenging conventional investment wisdom.