It seems to be a week for interesting peeks at Apple history, a new piece telling the story of Softbank founder Masayoshi Son making a $17B gamble on the basis of a gentleman’s agreement with Steve Jobs.Invariably known as Masa, the Japanese entrepreneur – who holds the interesting record of having been the richest man in the world for three days – figured out that Apple had to be working on a phone, two years before it was announced … While not a household name in the US, Masa was briefly the wealthiest man on the planet for three days, just ahead of the dotcom crash at the turn of the century.Having subsequently lost most of his wealth, the iPhone played a key role in his financial recovery.
Today, he’s the world’s biggest investor, having done a trillion dollar’s worth of deals in the past 20 years.A excerpt from a new biography of Masa reveals his realization that Apple had to be working on a phone, and the gamble he took based on an unwritten agreement with Steve.Author Lionel Barber tells the story.
Steve’s word was enough for Masa, leading his company Softbank to buy the carrier Vodafone Japan for $17B.This gave Softbank a consumer business which would be worth very much more once it had the exclusive Japanese rights to the iPhone 3G, the first model compatible with local networks.The deal was indeed done, and the bet of course paid off big-time.
Masa does have something of a reputation for colorful stories, but the facts certainly align with some version of his account, with Steve’s appreciation for the man’s vision and nerve likely playing a significant role. You’re reading 9to5Mac — experts who break news about Apple and its surrounding ecosystem, day after day.Be sure to check out our homepage for all the latest news, and follow 9to5Mac on Twitter, Facebook, and LinkedIn to stay in the loop.
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