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Masayoshi Son: From Outcast to Tech Titan

Masayoshi Son, the founder of SoftBank, is renowned for his audacious investments in technology. A new book, “Gambling Man: The Wild Ride of Japan’s Masayoshi Son” by Lionel Barber, explores his transformation from a social pariah to a leading figure in the tech industry.

Reflecting on an impactful evening at the dawn of the new millennium, Son captivated entrepreneurs in Tokyo’s Roppongi district with a powerful vision for Japan’s future. He proclaimed, “Japan is going through its biggest social upheaval since the Meiji Restoration,” inspiring many to believe that their innovations could shape society for generations.

SoftBank, established two decades earlier, was flourishing during the dot-com boom. At one point, Son briefly surpassed Bill Gates as the world’s richest person, a reflection of his remarkable success in a rapidly evolving market. However, his fortunes would soon face a dramatic shift.

Barber details Son’s journey in his book, spanning 335 pages. It chronicles Son’s evolution from a life marked by poverty to a career defined by high-stakes gambles in technology, including a formidable nearly $100 billion investment fund targeting tech startups encompassing companies like Uber and WeWork.

The author, who has interacted with global leaders, expresses that Son’s story is emblematic of contemporary society, capturing the intersection of cheap money, technology, and ambition. “He’s ridden this wave right from when he started with software distribution, which has permeated every aspect of life,” Barber explains.

However, the optimism of that night was soon overshadowed by reality, as the dot-com bubble burst in March 2000, leading to a significant financial crash for SoftBank. Despite this setback, Son continued to pursue ambitious ventures, showcasing a remarkable resilience that has characterized his career.

From Marginalization to Influence

Sons’ ascent to prominence was far from certain. Born in August 1957 to Korean parents in Japan, he faced significant discrimination as a member of the “Zainichi” community, often marginalized in society. Yet, through determination and an inherent talent for recognizing opportunities, he navigated the barriers that confronted him.

Barber highlights Son’s pivotal early experiences, including his transformative trip to the U.S. where his exposure to the microprocessor revolution ignited his ambition. He envisioned a world driven by technology long before this was widely anticipated.

Son founded SoftBank in 1981, marking the beginning of two fruitful decades filled with high-profile partnerships and ambitious acquisitions. His ability to pivot in response to economic changes showcased his entrepreneurial spirit, as he maneuvered through Japan’s economic downturn while maintaining a relentless focus on innovation.

Over time, his efforts led him to significant alliances, including a crucial partnership with Steve Jobs to champion the iPhone in Japan, positioning SoftBank at the forefront of the smartphone revolution.

A Visionary Investor with a Grand Future

The aftermath of the financial crisis in 2010 saw Son transition from an operator to a visionary investor, aiming to reshape the future with the establishment of the Vision Fund. He attracted massive investments from entities, including Saudi Arabia’s Public Investment Fund, creating a startup investment ecosystem with a scale previously unseen in Silicon Valley.

However, this ambitious strategy also led to some notable failures, including significant financial losses associated with WeWork and other ventures. Critics have often attributed his successes to luck, but Barber asserts that Son embodies a complex interplay of intellect and impulsivity, a duality that comes to the fore in his decision-making.

Today, Son finds himself navigating the current technological landscape, particularly with the rise of artificial intelligence. Despite being a long-time advocate for AI, he has yet to make significant bold investments in leading companies in this field, raising questions about his future strategy.

Barber emphasizes that Masayoshi Son’s relentless pursuit of innovation is far from over. As he continues to adapt and evolve alongside the shifting tides of technology, a new chapter awaits in his already storied career.

‘Gambling Man: The Wild Ride of Masayoshi Son’ by Lionel Barber is released by Allen Lane on October 3 in the UK and Atria/One Signal Publishers in January 2025 in the US.

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