Tadashi Yanai, the wealthiest person in Japan and the largest shareholder in Fast Retailing, had a $1.2 billion increase in his net worth since January of this year, bringing it to $30.8 billion. However, his fortune began to decline in January due to a downturn in domestic and Chinese sales, which had an impact on the shares of his Fast Retailing, the company that owns the Uniqlo retail chain. However, things turned around in July. He owns two golf courses in Hawaii and resides in a $50 million house outside of Tokyo.
The Japanese entrepreneur’s riches stems from his role as chairman and CEO of Uniqlo’s parent company, the biggest clothing store in Asia. In the business, the 73-year-old billionaire owns 45% of the shares. Yanai opened the first Uniqlo store in 1984. Since then, the Tokyo-based company has expanded to over 2,000 sites in at least 20 countries, has over 2,300 outlets, and reported revenue of 2.3 trillion yen ($19 billion) for the year ending August 31, 2022.
According to Bloomberg, Yanai is approximately $6 billion richer than Takemitsu Takizaki, Japan’s second-richest person. Along with being successful in the fashion industry, Yanai served for 18 years as a strong board member of the Japanese holding company SoftBank until resigning at the end of 2019 to focus on his apparel business.
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