Softbank - Stop Press - executive and stock price discussed - Brief Article

Business Asia, Dec, 2001

Softbank's chief executive Masayoshi Son, who 20 months ago was riding high on internet investments that were days away from making him the world's richest man, says he's getting used to life back in the trenches. "I'm taking the initiative at the front lines," Son said. "I'm really involved in the operations now." The man more used to evaluating the dreams of internet startups, and deciding whether to dole out his once ample cash, now travels 700 miles between Tokyo and Osaka every week to oversee the installation of switching equipment for a high-speed internet service that may make or break his company.

Son's focus on the nitty-gritty comes after a tumultuous two years. At the height of the internet frenzy last year, the 44-year-old's stake in Softbank was worth US$68 billion. Had the stock kept rising at the same pace -- the shares soared 24-fold in the year to their peak on February 18, 2000 -- Son would have overtaken Microsoft's Bill Gates as the richest man within weeks. Son's stake in Softbank is today worth about US$2.7 billion.