Bloomberg Billionaires Index

View profiles for each of the world’s 500 richest people, see the biggest movers, and compare fortunes or track returns.

#472 Masatoshi Ito $4.08B

Random fact: Considers Panasonic founder Konosuke Matsushita a mentor.

Overview

Ito is the honorary chairman and largest shareholder of Seven & i Holdings, which operates about 56,000 retail outlets including 19,000 convenience stores in Japan. The Tokyo-based company runs 7-Eleven stores and supermarkets under the Ito-Yokado and York-Benimaru brands. It had revenue of $40 billion in the year ended February 2016.

As of July 22, 2017:
Last change +$36.7M (+0.9%)
YTD change +$208M (+5.4%)
Industry Retail
Biggest asset 3382 JP Equity
Citizenship Japan
Age 93
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Masatoshi Ito's net worth of $4.08B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

0%
of the GDP of the United States
0%
of the total wealth of the 500 richest people in the world
0%
of the top 100 U.S. college endowments
0%
of the top 200 U.S. executives’ total awarded compensation
0%
of U.S. existing home sales
0
times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Ito's wealth is derived from his 10 percent stake in publicly traded Seven & i Holdings. The company runs 56,000 stores in 16 countries, including 19,000 in Japan, according to a 2016 corporate profile published on its website. Outlets include 7-Eleven convenience stores, supermarket chains Ito-Yokado and York-Benimaru, and Sogo and Seibu department stores.

The billionaire owns the shares directly and through Akita-based Ito Kogyo. As honorary chairman of the business and family patriarch, he's also credited with the stake held by his son, Junro Ito.

The value of his cash and other assets is based on an analysis of dividends, insider transactions, taxes and market performance.

Mayumi Ito, a spokeswoman for Seven & i, declined to comment on the billionaire's net worth.

Biography

Birthdate: 4/30/1924
Family: Married, 3 children
Education: 1944, Yokohama City University

Masatoshi Ito was born in 1924, the second son of a Tokyo family that ran a chain of grocery stores. His older brother Mamoru Ito started working for their uncle's Yokado supermarket when he was 14, and was given the rights to open a store under the brand in Tokyo's Asakusa neighborhood in 1940, according to Ito's autobiography.

The billionaire attended Yokohama City University with financial support from his brother, who's 13 years older. After graduating in 1944, he became an army officer, according to the book. The family's store was destroyed in an air raid a year later, which was rebuilt and reopened in 1946. That's when Ito's brother brought him into the family business, according to his book, which devoted a chapter to his brother after he died from asthma at 45, calling it the lowest point of his life.

Ito took over the business and expanded the supermarket chain. He sold shares in a public offering in 1972. A year later, he struck deals with 7-Eleven and Denny's to operate their stores in Japan. Two decades later, the billionaire took control of Southland Corp., the operator of 7-Eleven.

Seven & i, Ito's holding company, started trading following a merger that formed Japan's biggest retailing group at the time in 2005. The retailer also offered to take the operator of 7-Eleven private. Ito's company has more than 180 Ito-Yokado supermarkets and 19,000 7-Eleven stores in Japan as of 2016, along with department stores Seibu and Sogo and licenses to run Barney's stores. It also has more than 8,500 7-Eleven outlets in North America and over 300 stores in China.

Milestones
  • 1920 Uncle Toshio Yoshikawa opens Yokado Clothing Store in Tokyo.
  • 1924 Masatoshi Ito is born in Tokyo.
  • 1944 Graduates from the predecessor of Yokohama City University.
  • 1972 Ito-Yokado sells shares on the Tokyo Stock Exchange.
  • 1973 Sets up Denny's Japan and York-Seven, the predecessor of 7-Eleven Japan.
  • 1991 Ito-Yokado buys controlling stake in Southland, owner of 7-Eleven brand.
  • 2001 Sets up predecessor of Seven Bank and enters financial services industry.
  • 2005 Establishes Seven & i Holdings by merging three companies.
  • 2009 Forms Sogo & Seibu by merging three department store units.
  • 2017 Buys Sunoco LP's store and gasoline businesses for $3.3 billion.