Billionaire Who Lost $70bn in the Dotcom Crash Bought Bitcoin, Lost There Too – Trustnodes

Billionaire Who Lost $70bn in the Dotcom Crash Bought Bitcoin, Lost There Too

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Masayoshi Son, Japan’s richest man with an estimated net worth of $22 billion, lost an incredible $70 billion during the dot com crash of 2000. Making him the man who lost the most money in history.

Plenty was still left, including his stake in Yahoo Japan, Alibaba and others. He went on to keep investing, including in Uber, Nvidia, Flipkart, WeWork, OneWeb and more.

As well as bitcoin. Apparently he bought at the high in late 2017 after being introduced by a bitcoin evangelist, Peter Briger Jr., co-chairman of the private equity firm Fortress Investment Group.

He then quickly sold in early 2018 as the market turned, losing $130 million according to the Wall Street Journal.

Presumably he learned the dotcom lesson, so he didn’t hodl to lose maybe $1.3 billion or more, with it unclear just how much he invested initially.

Who leaked all this is also unclear, with WSJ citing “people familiar with the matter.” Nor is it clear why it was leaked now, but Son is known for taking risky bets which has made him one of the most influential person on earth.

He is the founder of the world’s largest venture capital firm, SoftBank, with its assets estimated at $190 billion.

SoftBank’s $100 billion Vision Fund invests in emerging technologies like artificial intelligence, robotics and the internet of things and also focuses on companies that aim to revolutionise real estate, transportation, and retail.

Meaning the billionaire probably has a very good understanding of the internet space and its potentials. So if he will now get back to buying crypto directly, is unclear.

Copyrights Trustnodes.com

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