#Asia The brother of SoftBank founder Masayoshi Son is heading to Singapore, following Eduardo Saverin’s footprints


Taizo Son says he intends to invest US$100 million in the Southeast Asia within

Taizo Son

Taizo Son, founder of GungHo Online Entertainment

Taizo Son, the billionaire founder of JASDAQ-listed mobile gaming studio GungHo, is relocating to Singapore, according to a report by Bloomberg.

He told Bloomberg that he intends to invest US$100 million in Southeast Asia in the next five years. Son got his big break when GungHo released Puzzle & Dragons, the first mobile game to cross US$1 billion in revenue.

The younger brother of Japanese telecom giant SoftBank‘s founder Masayoshi Son (who has a net worth of over US$12.9 billion) cited frustrations with Japan’s regulatory hurdles and education system, which contrasted with Singapore’s innovation-friendly environment, as reasons for the move.

Masayoshi Son is not the only tech billionaire to have migrated to Singapore. Co-founder of Facebook Eduardo Saverin gave up his US passport and settled permanently in Singapore in 2012, owing in part to the city state’s low tax rate.

Taizo Son will be staying at Sentosa, an offshore island known for its opulent condominiums and houses. He said he expects his PR application to be approved within three months.

Also Read: Didi considering US$6B investment from SoftBank, the biggest tech funding in China

In Japan, Son has been active in nurturing entrepreneurs. In 2009, he set up startup accelerator Movida Japan.  Four years later, he set up ecosystem builder Mistletoe, making several investments in Asia including Singapore’s Garena. Son is also a director at the Entrepreneurial Training for Innovative Communities (ETIC).

But for now, Son seems to haven given up hope on Japanese’s entrepreneurial ambitions (or lack thereof). He told Bloomberg that Japanese education system was “extremely terrible” at creating entrepreneurs.

Son said he will look into opening a school in Singapore to help children pick up entrepreneurial skills.

Image Credit: Flipboard

The post The brother of SoftBank founder Masayoshi Son is heading to Singapore, following Eduardo Saverin’s footprints appeared first on e27.

from e27 http://ift.tt/2oFn4YE

This entry was posted in #Asia by Startup365. Bookmark the permalink.

About Startup365

Chaque jour nous vous présenterons une nouvelle Startup française ! Notre pays regorge de talents et d'entrepreneurs brillants ! Alors partons à la découverte des meilleures startup françaises ! Certaines d'entre elles sont dans une étape essentielle dans la vie d'une startup : la recherche de financement, notamment par le financement participatif (ou crowdfunding en anglais). Alors participez à cette grande aventure en leur faisant une petite donation ! Les startups françaises ont besoin de vous !