Masayoshi Son

Early Life and Background

Masayoshi Son was born on August 11, 1957, in Tosu, Saga Prefecture, Japan, situated on the island of Kyushu. He is a second-generation Zainichi Korean, meaning his family were ethnic Koreans residing in Japan. His family, originally bearing the Korean surname 'Son' (손), adopted the Japanese surname 'Son' (孫) due to the social pressures and legal requirements faced by Koreans in Japan. His father was a businessman who eventually found success in the restaurant and pachinko parlor industries. From a young age, Son displayed an intense curiosity and an entrepreneurial spirit, often challenging conventional thinking. He was deeply influenced by Japanese business magnate Den Fujita, the founder of McDonald's Japan, whose book he read as a teenager, inspiring him to pursue a path of entrepreneurship.

Education

Son's pursuit of education and opportunity led him to leave Japan at the age of 16. He moved to California, United States, where he initially attended Serramonte High School in Daly City, graduating in just three weeks after demonstrating exceptional academic aptitude. Following this, he enrolled at Holy Names University in Oakland before transferring to the University of California, Berkeley. At Berkeley, he pursued a dual major, studying economics and computer science, graduating in 1980 with a Bachelor of Arts degree. During his time as a student, Son's inventive mind was already at work. He developed an electronic translator, which he successfully sold the patent for to Sharp Corporation for a substantial sum of $1 million. He also demonstrated his business acumen by importing Space Invaders arcade games from Japan, modifying them, and then renting them out to local restaurants and university dormitories, generating significant income.

Career

Upon returning to Japan in 1981, Masayoshi Son officially founded SoftBank, initially named Nihon SoftBank. The company's humble beginnings were as a software distributor, importing popular software titles and PC accessories. Son quickly expanded SoftBank's operations into publishing, launching influential computer magazines such as 'Oh! PC' and 'Oh! MZ,' which catered to the burgeoning personal computer market in Japan. By the late 1980s and early 1990s, SoftBank had grown into a major player in the Japanese software and IT distribution landscape. In 1994, SoftBank went public, marking a significant milestone in its expansion.

The mid-1990s saw Son pivot SoftBank towards internet-related investments. In 1995, he famously invested $100 million in a nascent internet company called Yahoo!, a move that would prove incredibly prescient. He subsequently established Yahoo! Japan in 1996 as a joint venture with Yahoo!. During this period, SoftBank also acquired major U.S. technology publishers like Ziff Davis and the COMDEX computer trade show, solidifying its presence in the global IT sector. The dot-com bubble burst in the early 2000s significantly impacted SoftBank, causing its stock price to plummet, but Son navigated the crisis, albeit with substantial personal losses.

The turn of the millennium marked another pivotal moment with SoftBank's investment in Alibaba Group in 2000, a then-unknown e-commerce startup in China. This investment, initially around $20 million, would eventually become one of the most successful venture capital deals in history. In 2001, Son spearheaded SoftBank's entry into the broadband internet market in Japan with the launch of Yahoo! BB, aggressively competing against established telecommunication giants. This bold move transformed the internet landscape in Japan, making high-speed internet accessible to millions.

In 2006, Masayoshi Son took another audacious step by acquiring Vodafone Japan for approximately $15.5 billion, marking SoftBank's grand entry into the mobile telecommunications sector. He rapidly transformed the struggling Vodafone Japan into a highly competitive and innovative mobile carrier, introducing the iPhone to Japan in 2008. Continuing his global expansion, SoftBank acquired a majority stake in U.S. mobile carrier Sprint Corporation in 2013 for over $20 billion. Despite significant challenges, Son eventually orchestrated a merger between Sprint and T-Mobile US, creating a stronger competitor in the U.S. market.

Perhaps Son's most transformative initiative came in 2017 with the launch of the SoftBank Vision Fund, a colossal technology-focused investment fund initially capitalized at over $100 billion. Backed by sovereign wealth funds from Saudi Arabia and Abu Dhabi, the Vision Fund aimed to invest in disruptive technologies and companies globally. Through the Vision Fund, SoftBank made massive investments in leading startups and tech giants such as Uber, WeWork, Didi Chuxing, OYO, DoorDash, and ByteDance, among many others. This strategy, while leading to some high-profile successes, also faced controversies and significant write-downs, particularly concerning WeWork, which highlighted the high-risk nature of Son's investment philosophy. In 2020, SoftBank launched a second Vision Fund, Vision Fund 2, continuing its aggressive investment strategy. A key strategic move was the acquisition of British chip designer ARM Holdings in 2016 for $32 billion, a testament to Son's belief in the future of the Internet of Things (IoT).

Major Achievements

Masayoshi Son's career is marked by several groundbreaking achievements. He is the founder of SoftBank Group, which he grew from a small software distributor into a global technology investment powerhouse with interests spanning telecommunications, internet services, AI, robotics, and semiconductors. His early investments in companies like Yahoo! (1995) and Alibaba Group (2000) are considered legendary in the venture capital world, generating returns of thousands of percent. He pioneered the widespread adoption of broadband internet in Japan through Yahoo! BB and successfully challenged incumbents in the mobile telecommunications market with SoftBank Mobile. The establishment of the SoftBank Vision Fund fundamentally reshaped global venture capital, deploying unprecedented amounts of capital into technology startups worldwide and accelerating the growth of numerous unicorns. He is consistently ranked among the wealthiest individuals in Japan and globally, a testament to his long-term vision and strategic prowess.

Personal Life

Masayoshi Son is married to Masami Son, and together they have two daughters. Despite his public profile as a global business leader, he maintains a relatively private personal life. His heritage as a Zainichi Korean has been a significant aspect of his identity, informing his perspective on life and business. Son is known for his work ethic and his visionary outlook, often speaking about a 300-year plan for SoftBank. He has also engaged in philanthropic efforts, notably pledging a significant portion of his wealth to victims of the 2011 Tohoku earthquake and tsunami in Japan.

Legacy

Masayoshi Son's legacy is that of a visionary entrepreneur and an audacious investor who has consistently pushed the boundaries of technology and business. He is often compared to legendary investors like Warren Buffett for his ability to identify future trends and make high-stakes, high-reward investments, but with a distinct focus on disruptive technology. He transformed SoftBank from a modest startup into a multi-faceted global conglomerate that has played a crucial role in the development of the internet, mobile telecommunications, and artificial intelligence. His creation of the SoftBank Vision Fund has left an indelible mark on the global startup ecosystem, demonstrating a new model for large-scale technology investment. Son's willingness to take calculated risks, his unwavering belief in the power of technology, and his long-term strategic thinking have cemented his position as one of the most influential figures in modern business history, inspiring a generation of entrepreneurs and investors globally. His impact extends beyond mere financial returns, having fostered innovation and growth across numerous industries and geographies.