Masayoshi Son is the $100 billion gambler who went from dirt track to tech titan — and he isn’t done betting yet

That said, Son’s humiliation at that moment would not stop him from chasing visions of extraordinary scope again and again, even if it meant hard falls were to come once more. This is the career of a man whose ambition has taken him to the brink and back.

And signs suggest he’s not done just yet.

Social pariah to technology visionary

Son’s rise to what Barber describes as a “place at the very pinnacle of the global plutocracy” was hardly guaranteed.

Though he’s now worth almost $17 billion, owns a mansion likened to Batman’s Wayne Manor, and places himself among a peer group of Napoleon Bonaparte, Genghis Khan, and Qin Shi Huang, the first Emperor of China, Son was born in August 1957 to Koreans “on a dirt track with no name” on the Japanese island of Kyushu, according to the book. It recounts that “Masa’s earliest memories were the smell of pigs and the sound of steam trains belching soot and smoke which filled his makeshift home.”

Discrimination was a part of his childhood, too, with postwar Koreans living in Japan labeled “Zainichi” — a term used as a pejorative to categorize the ethnic minority as second-class citizens. For Son, being born in poverty meant his early years involved a pariah-like experience.

However, as Barber notes, the younger Son would go on to enjoy a future audience with the 45th President of the United States and court royals in Riyadh. He would, more importantly, play a pivotal role in transforming the technology sector from a niche interest of computer obsessives into a global force that turns the world economy.

In Barber’s telling, a few key factors drove Son down this path. His inaugural visit to the US, where he attended Berkeley, coincided with the microprocessor revolution. Like Microsoft’s Gates, he claims to have had an epiphany after seeing the Intel 8080 microprocessor for the first time in a copy of the Popular Electronics magazine; he foresaw a future in which the world could one day be powered by silicon.

This cycle of rise and fall has made a curious reappearance throughout Son’s career. As Barber puts it, Son is a gambler, which means his life has followed a familiar pattern that goes something like this: “A blizzard of ideas followed by intense enthusiasm and focus, leading to overreach, failure, and repentance — until the whole process started over again.”

He is also someone Barber deems ruthless, a fighter with a penchant for the “crazy” that sits at odds with the portrait of a more shy and self-conscious leader that the billionaire has often presented to the public.

Nowhere have these elements shown themselves more than they have done in Son’s leadership over SoftBank 2.0.

A gambling man with $100 billion to play with

In 2010, as the world was picking itself up from the financial crash, Son spent a lot of time thinking about 2040. He wanted to know how technology would shape society in 30 years’ time.

He concluded that the tech-enabled information revolution should mean “happiness for everyone.” At that time, though, Son was getting bored of being an operator — it was time to be a “grand investor.” In Barber’s assessment, this is a period in Son’s life that shows how he’s “quite capable of serious hardball” to get what he wants while leaving himself entirely vulnerable to those who might dare to dream as big as he does.

Enter the Vision Fund. Rajeev Misra, a former trader at Deutsche Bank who profited from a huge short bet against the subprime mortgages at the center of 2008’s financial meltdown, was brought in to help lead Son’s investment charge. So, too, was Nikesh Arora, a “fast-talking” former Google executive pulled away from a $50 million-a-year package.

As the misfires have mounted, critics have put Son’s successful bets over the years down to luck. In Barber’s view, the picture is more complicated. He told BI that he sees an “intelligent brain thinking ahead, anticipating,” but also a reckless impulse to “put a chip on every board.” There is a visionary that co-exists with a “gambling addict.”

Barber’s book comes at a critical juncture. Since the launch of ChatGPT, the technology industry has made artificial intelligence its central focus, with an arms race underway among global companies wanting to make smarter versions of the technology. For Son, an AI obsessive long before the current era of generative AI chatbots, it’s a moment that seems tailor-made to his desires. But he has been slow to match that with the bold bets he has become known for.

While SoftBank oversaw Arm’s IPO in September 2023 and acquired chip firm Graphcore in July, it has not yet invested in companies developing the large language models powering the current boom, such as OpenAI or Anthropic. In 2019, it dumped its nearly 5% stake in Nvidia, the chip giant now worth over $3 trillion.

Still, it’s hard not to see a splurge coming soon. In June, the SoftBank boss told shareholders past investments were “just a warm-up” for the AI era. It’s no surprise to Barber, who sees Son as never satisfied.

“He’s definitely got another act,” Barber said. “There’s no question.”

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