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Japanese fashion tycoon, Maezawa shows a $900 million, they turned payday

TOKYO (Reuters) – Japan’s Yusaku Maezawa, on Friday posted images of a $900-million pay-day for the fashion tycoon, following the sale of an interest in the Zozo Inc., the online fashion retailer he founded, SoftBank Group, Corp.

FILE PHOTO : Yusaku Maezawa, the chief executive of Zozo, who is active in Japan, the popular fashion shopping site Zozotown, and is officially called ” Start Today Co., speaks at an event launching the debut of his formal clothes, items, in, Tokyo, Japan, on July 3, 2018. REUTERS/Kim Kyung-Hoon/File Photo

In a video posted on YouTube, Maezawa, visited Tokyo for a bank to update the bank book showed a balance sheet of about 100 billion yen ($900 million).

“It’s nerve-wracking!” Maezawa said that he is in the tree.

The gain follows a tender offer by Holdings, which is controlled by SoftBank, the single wireless device, the center of Zozo, the issued shares of that month.

The deal saw Maezawa reduce its stake in the fashion company of up to 18%.

Maezawa are made of 150 billion yen, the deal is, but it is already being used for the payment of the debt, ” he said in a Youtube video by the seat of his chauffeur-driven car.

The former punk band drummer, known for his love of high-end art, and sports cars.

Maezawa, who has a close relationship with SoftBank’s founder Masayoshi Son is planning to take a trip around the moon in a rocket of Elon Musk’s SpaceX, stepped down as Zozo’s CEO, after a series of failed initiatives in the future.

His efforts in the sale is the final pay-out by SoftBank, a wealthy founder of the company.

At the end of September, the investment consortium and rescued the office-sharing startup WeWork in the deal which saw the co-founder, Adam Neumann, with a $1.7 billion package.

Report by Sam Nussey; editing by Jason Neely

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