Masayoshi Son is a billionaire technology veteran best known for founding SoftBank, a Tokyo-based firm specializing in banking and investment software and services. During the past two decades, Son has led SoftBank from numerous positions, currently serving as its Chairman and CEO.
Born and raised in Japan, Son completed his schooling in the United States and graduated with an economics degree from the University of California, Berkeley. Son’s contribution to the crypto community comes in the form of several multimillion-dollar investments — primarily backing firms dealing in crypto- or blockchain-related services.
In addition to running one of Asia’s largest conglomerate holding companies, the veteran entrepreneur has also helped lead Yahoo Japan — which was initially launched as a joint venture between Yahoo and SoftBank — as a director. Under Son’s leadership, SoftBank works closely with leading crypto-focused firms including exchanges, blockchain platforms and settlement services.
Supporting this effort, SoftBank also operates SoftBank Vision Fund, a technology-focused venture capitalist firm launched with over $100 billion in capital. Founded in 2017 and 2019, respectively, SoftBank Vision Fund and SoftBank Vision Fund 2 have invested over $130 billion combined in high-caliber startups and crypto businesses over the years.
Stepping into 2021, SoftBank’s telecommunications subsidiary joined the Japanese Security Token Association, a self-regulatory organization whose membership includes other major Japanese firms such as Deloitte Tohmatsu Consulting and HashPort. As a part of Son’s global expansion plans, SoftBank led an $800 million investment into major pro-crypto British banking app Revolut. The company also invested $3 billion in Indian companies over the course of the year.
SoftBank invested $150 million in South Korean metaverse platform Zepeto, which is dedicated to trading premium digital fashion items in collaboration with brands such as Gucci and Dior. Moreover, major commercial real estate firm WeWork, which is majority-owned by SoftBank, announced plans to accept cryptocurrencies and hold them on its balance sheet. SoftBank further expanded its business portfolios in 2021 via multimillion-dollar investments in fantasy gaming company Sorare, NFT metaverse platform The Sandbox, Latin American crypto exchange Mercado Bitcoin and crypto analytics firm Elliptic, to name a few.
Son held roughly 26% of SoftBank’s total shares issued at the end of 2021. While the year was crucial in terms of covering up for the losses incurred from the investments made during the peaks of 2019 and 2020, SoftBank intends to further its success through timely acquisitions in the coming years.
Son’s main focus in 2022 is expected to be identifying and onboarding high-caliber crypto startups to preserve its growing presence in the space. SoftBank’s most notable investment so far has been a $400 million fundraise for FTX, bringing the exchange’s valuation to $8 billion. Son also plans to increase the employee headcount in Japan for SoftBank Vision Fund, including positions for analysts, associates and vice presidents.
In terms of global expansion, SoftBank will likely ramp up its investment in India to up to $10 billion by the end of 2022. The Japanese fintech giant also underwent a management restructuring earlier this year with the departure of its chief operating officer. By the end of January, the regional breakdown of SoftBank’s portfolio amounted to 42% in the Americas, 28% in Europe and 15% in China.
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