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Japanese fashion tycoon Maezawa show off a $ 900 million payday SoftBank

Japan’s Yusaku Maezawa on Friday posted a record of $ 900 million paid for the fashion king following his sale of shares in Zozo Inc., an online fashion retailer he founded, to SoftBank Group Corp.In video posted to YouTube, Maezawa visit a bank in Tokyo for update their bank book, which shows the new balance of about 100 billion yen ($ 900 million).

“It’s thrilling!” Maezawa said when entering the branch.

windfall following the tender offer by Z Holdings, which is controlled by Softbank domestic wireless unit, because half of the shares Zozo this month.

The deal saw Maezawa reduced its stake in the fashion company to 18%.

Maezawa make 150 billion yen in the deal, but the third has been used to pay the debt, he said in a Youtube video on the seat of his chauffeur-driven car.

Former drummer for the punk band famous for their love of high-end art and sports cars.

Maezawa, who has close ties with Softbank founder Masayoshi Son and plan a trip around the moon in a rocket from Elon Musk’s SpaceX, resigned as CEO Zozo following a series of initiatives that failed.

the latest sale of its stake is paid by SoftBank to the company’s founders rich.

In September the investment conglomerate bailed-sharing startup WeWork office in a deal that saw co-founder Adam Neumann came out with a package of $ 1.7 billion.


Also published on Medium.

Published inStartups

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