Japanese Billionaire Yusaku Maezawa Says Ignorance in Equities Trading Cost Him $41m

Japanese billionaire, Yusaku Maezawa says he lost 4.4 billion Yen (about $41.4 million) trading stocks amid volatile swings triggered by the pandemic

As a result, Maezawa’s net worth dropped by about $215 million to $3.5 billion this year according to Bloomberg-compiled data.

The founder and former chief executive of online fashion retailer Zozo who is well-known for pulling stunts on Twitter in a tweet titled ‘’Deep Regrets’’  said he lost money through day trading- a practice he has failed to master.

However, he expressed regret over the sum he had lost and vowed to recover it through his business.

‘’I was blinded by the virus-driven market savings and lost 4.4 billion yen through repeated short-term trading of stocks, something I haven’t familiarized myself with,’’ Maezawa said in the Sunday tweet.

‘’With 4.4 billion yen, how many people could the money have been given out to and saved? There is no end to this regret.’’ Maezawa added

Earlier this year, Maezawa said he is looking for female applicants to be his companion on his planned trip to the moon on Elon Musk’s rocket in 2023. He scrapped the plan after facing backlash over the process.

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