Pursuits
Fortunes Fall for Two of Japan’s Richest, Son and Yanai
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Japan’s richest man, Tadashi Yanai, and the nation’s second wealthiest, Masayoshi Son, lost a combined $2.4 billion in net worth today as shares in the companies they founded plunged.
Yanai, the chairman of Fast Retailing Co., lost $1.1 billion to $10.3 billion, as shares in Asia’s biggest clothing retailer closed down 9.9 percent in Tokyo. Softbank Corp. President Son’s net worth slid $1.3 billion to $7.7 billion after Japan’s third-largest mobile Internet company said it’s in talks to acquire a substantial stake in Sprint Nextel Corp. Softbank stock dived 16.8 percent.