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Yahoo Japan Nears Deal for Majority Stake in Zozo

  • Yusaku Maezawa stepping down as Zozo CEO and taking ‘new path’
  • Yahoo Japan is paying 21% premium to acquire fashion portal
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Yusaku Maezawa, the flamboyant Japanese entrepreneur who’s set to become the first paying passenger aboard Elon Musk’s SpaceX ride around the moon, is cashing out of the business that made him a billionaire.

Maezawa steps down as chief executive officer of Zozo Inc. Thursday and plans to sell a chunk of his shares as part of a $3.7 billion takeover by Yahoo Japan Corp. Wearing a white T-shirt declaring “Let’s Start Today” atop a peace symbol, he said he was leaving his company behind to create a new business, without specifics. He’ll need to train for Musk’s mission and may even embark on another space project he said again without elaborating.