Hiroshi Mikitani’s Net Worth : Books & Controversy

A Japanese CEO and co-founder of Rakuten, Hiroshi Mikitani’s net worth is a staggering $9 billion as of 2022.

Hiroshi Mikitani was born on March 11, 1965, in the Japanese city of Kobe. His father, Ryoichi, was an economist, while his mother, Setsuko, worked for a major trade corporation. Hiroshi has two siblings: Ikuko, his sister, and Kenichi, his brother.

Hiroshi Mikitani is the CEO and chairmen of Rakuten, which he created in 1997 and is Japan’s largest e-retailer. After two years, the company was renamed Rakuten, Inc.

Since then, Mikitani has been focused on purchasing businesses that will help him expand his global services and compete with behemoths like eBay and Amazon.

Hiroshi Mikitani's profile image.
Hiroshi Mikitani’s profile image.

Similarly, Mikitani has spent over $1 billion acquiring companies such as Buy.com in the United States and Play.com in the United Kingdom.

Then, he decided because he believes that “English is no longer a benefit — it is a need.” He also bought a $100 million investment in Pinterest, a photo-sharing site, in May 2012, and Kobo, a Canadian e-book reader startup, earlier that year.

Also, he has some family responsibilities and his work ones, as he is married with one child.

So, let’s get to know Hiroshi Mikitani a little better, starting with some basic facts about her.

Quick Facts

Full Name Hiroshi Mikitani
Known name Hiroshi Mikitani
Date of Birth March 11, 1965
Birthplace Hyogo Prefecture
Age 57 Years
Nationality Japanese
Religion N/A
Ethnicity Asian
Gender Male
Mother Setsuko Mikitani
Father Ryoichi Mikitani
Siblings Kenichi Mikitani, Ikuko Mikitani
Height N/A
Weight
N/A
Hair color Black
Eye color Light Brown
Zodiac Sign Pisces
School Harvard University Cambridge Massachusetts
College Hitotsubashi University Kunitachi Japan
Source of Wealth  Founder, CEO & Chairman, Rakuten, Inc. (1997-present)
Sexual Orientation Straight
Active Years 1988–present
Profession Business Man
Marital Status Married
Girlfriend N/A
Spouse Haruko Mikitani ​(m. 1993)​
Children Two
Ex-Spouse N/A
Yearly Salary $236,970: average Rakuten executive compensation
Net Worth $9 billion
Social Media InstagramTwitterWikipedia
Last Update  October, 2022

Early Life of Hiroshi Mikitani

Hiroshi Mikitani was born to intellectual parents, Ryoichi Mikitani, a professor and economist, and his mother, Setsuko, who worked for a trading firm.

He went on to work for the Industrial Bank of Japan after graduating from Japan’s elite Hitotsubashi University. This, as per a Japanese family, was the best career success story.

However, this wasn’t enough for Mikitani. When he was sent to the United States in 1993, he earned an MBA from Harvard Business School, the world’s greatest business school.

Despite working for three more years at the Industrial Bank of Japan after that, he always knew he wanted to strike out independently.

He pursued a long-held ambition “to build an internet shopping company,” which was considered dangerous in the 1990s when e-commerce was still in its infancy.

As a result, Mikitani believed that internet buying only needed “another chance” and “the appropriate technique to do it.”

Hiroshi Mikitani’s Net Worth and Income

A Japanese CEO and co-founder of Rakuten, Hiroshi Mikitani’s net worth is a staggering $9 billion as of 2022.

As the CEO and Chairman of Rakuten, a Japanese electronic commerce and Internet company that he created in 1997, Mikitani has amassed a net worth of $6.1 billion.

He changed the company’s name to Rakuten, Inc. after two years. He is also the head of the Development Units and the E-Commerce and Banking Business Units.

Moreover, he is still looking for more companies to buy to expand his global services and compete with major internet retailers like Amazon and eBay.

Similarly, he considers English to be a must rather than an advantage. He purchased a $100 million stake in the photo-sharing site Pinterest in May 2012 and a $100 million holding in Kobo, Canada’s e-book reader startup, earlier that year.

In addition, He has recently benefitted from internet deregulation, with the lifting of limitations on online drug sales and election campaigning. This means he’ll be able to make more money in Japan.

Also, he was a director of Kobo Inc. and the chairman of  Rakuten Travel Inc., Rakuten Card Co., Ltd., and Fusion Communications Corp., among other positions.

Hiroshi Mikitani’s Net Worth in Different Currencies

Let’s look at Hiroshi Mikitani’s Net Worth in several currencies, including BitCoin, the cryptocurrency.

Currency Net Worth
Euro 840,400,000
Pound Sterling £ 715,695,000
Australian Dollar A$ 1,350,895,000
Canadian Dollar C$ 9,974,800
Indian Rupee ₹ 594,036,000
BitCoin ฿ 198

Hiroshi Mikitani: House

As luxury costs rise, billionaire Mikitani constructs a new Tokyo home.

Hiroshi Mikitani, Japan’s fourth richest man, is developing a residence in central Tokyo that is expected to cost at least 2.3 billion dollars, highlighting a luxury property shortage in the city.

According to the sources, the two-story house is on an 880-square-meter plot in an affluent Shibuya Ward neighborhood. 21 Sky Realty, land prices in the area have increased by 20% this year.

Hiroshi Mikitani's beautiful mansion, as seen from Google Maps.
Hiroshi Mikitani’s beautiful mansion, as seen from Google Maps.

Mikitani purchased the land in February 2011 for an undisclosed sum. According to the land ministry, a plot in the same neighborhood sold for $1.44 million per square meter around the same period. That works out to around $1,234 per square foot.

Also, prices in the area have increased by 67 percent since 2011, reaching as high as $2,057 per square foot.

In detail, Mikitani’s home is expected to cost 2.3 billion when land, construction, and design costs are factored in. Based on nearby transactions recorded with the land ministry at the purchase, the land is estimated to be worth $1.27 billion.

Hiroshi Mikitani: Lifestyle

You’ve probably never heard of Hiroshi Mikitani, even though he’s one of the world’s wealthiest internet tycoons.

Furthermore, you’d probably receive a lot of blank eyes if you asked folks on the streets of Silicon Valley if they’d heard of his company, Rakuten Inc.

This is absurd because Rakuten Inc. is a worldwide e-commerce behemoth that controls virtually all aspects of online shopping. The company was formed in 1997 by Hiroshi Mikitani.

Also, the company’s revenues were $4.7 billion in 2012, with an operating profit of around US$770 million. The site’s 48-year-old founder is worth $8 billion, making him Japan’s third wealthiest individual.

This is how he developed the Rakuten empire. Hiroshi Mikitani is a very wealthy man with an estimated net worth of $8 billion.

Rakuten, Banking, Sports team ownership, Banking, Keidanren, Book Publication

Rakuten

It requires guts to believe in and put money into a futuristic concept. In an era when it was difficult to predict how huge online retailing would grow, Rakuten seized the internet retail industry by storm.

The crew was adamant about their concept and refused to give up. Even though everyone said that no one would buy items through the internet, this wonderful organization worked hard.

Hiroshi Mikitani created Rakuten in 1997 when it was known as MDM, Inc. In 1999, the name was finally changed. ‘Rakuten’ is a Japanese term that signifies ‘hopefulness.’ Mikitani is still the company’s CEO. The concept was novel and risky.

Hiroshi Mikitani, CEO of Rakuten Inc., delivering his words during the company's new year conference in Tokyo, Japan.
Hiroshi Mikitani, CEO of Rakuten Inc., delivering his words during the company’s new year conference in Tokyo, Japan.

Despite this, Hiroshi was persuaded to create Rakuten following his first online buying experience. His order for Japanese noodles arrived in the mail after he ordered them from a small local business.

Following this encounter, he realized that internet buying would become a commonplace pastime within a few years and decided to take advantage of the opportunity.

Travel, online shopping, e-books, banking, credit cards, and the Rakuten Golden Eagles baseball franchise are Rakuten’s business units.

While Honda president Takanobu Ito condemned the concept as “ridiculous” in 2010, Mikitani argues that “English is no longer a benefit — it is a must.”

Banking

Mikitani was employed for the Industrial Bank of Japan (now Mizuho Corporate Bank) from 1988 to 1996, with a break for Harvard Business School from 1991 to 1993.

He quit forming Crimson Group, his own consulting firm. Mikitani has stated that the disastrous 1995 Kobe earthquake inspired him to want to revitalize Japan’s economy.

As a result, it led to his retirement from banking and his choice to create his own company.

Keidanren

In 2004, Mikitani became a member of Keidanren, a significant Japanese business group.

Following the Fukushima nuclear disaster, he resigned from the federation, announcing it on Twitter before sending in his formal resignation letter.

In detail, it stated that it was no longer the same organization he had joined and that he disagreed with its support for continued reliance on nuclear power. Later, he considered forming a rival organization.

Furthermore, the Japanese Association of New Economy (JANE) began operations in Tokyo on June 1, 2012. The “Japan e-business association,” which had been founded in February 2010, was renamed to include non-online enterprises.

Book Publications

The CEO of the world’s third-largest e-commerce company admits to breaking the rules.

Mikitani, the founder and CEO of Rakuten, shares his perspective on violating rules and thinking differently to succeed in the global marketplace in his books.

As of now, he has authored three different books: The Power to Complete, Principles for Success, and Marketplace 3.0.

Hiroshi Mikitani's book cover.
Hiroshi Mikitani’s book cover.

Mikitani explains how true employee empowerment, suppliers, and consumers are essential to establishing a healthy corporate culture and mindset.

Also, maintain a position in the international market; and how the element of joy is vital in changing the rules of entrepreneurship.

In detail, while the book might be self-congratulatory at times and repetitious or in need of rewriting at others.

Mikitani weaves an amazing entrepreneur story and makes a compelling case for breaking boundaries.

Career

After a year as an independent consultant, he founded ‘Rakuten’ (which means optimism in Japanese) with a few other young people in 1997.

Rakuten quickly rose to become Japan’s largest and most successful e-commerce site, with international expansion. Hiroshi Mikitani didn’t stop at e-commerce.

He is presently the chairman of Rakuten Travels, Crimson Football Club, Director of Kobo Inc, and Director of Priceminister S.A.S.

Moreover, he has not only realized his aim of creating the ideal e-commerce company, but he has also risen to become one of Japan’s most powerful CEOs.

Hiroshi Mikitani in a general meeting conference.
Hiroshi Mikitani in a general meeting conference.

Also, he has been granted the Legion of Honour, which the French government bestows on the world’s greatest accomplishments, at the age of 51.

Hiroshi was also honored with the Harvard Business School Alumni Achievement Award, a rare honor. Hiroshi, on the other hand, still has a long way to go in terms of accomplishments.

Furthermore, Hiroshi Mikitani now blogs and provides motivational presentations about his accomplishments and the path to success in business.

For his followers, he has three mantras: “follow your passion,” “don’t be scared to start small,” and “be open to change.” He attributes his achievement to these three factors, according to him.

Controversy

After the release of a film featuring them over the weekend, Antoine Griezmann and Ousmane Dembele of Barcelona have been embroiled in a dispute.

While on tour with Barça in 2019, Dembele appears to make fun of several Japanese workers in the video, which Griezmann laughs.

Following the video’s release, both players apologized for their behavior but insisted that their comments had no racist overtones.

On Tuesday, however, Hiroshi Mikitani, the CEO of Rakuten, Barça’s biggest sponsor, expressed his displeasure with the film and sought a reaction from the Catalan club.

According to RAC1, Griezmann and Dembele have both contacted Barça to apologize for their mistakes and express regret for what can be heard in the video.

Griezmann emerges as a Manchester City alternative to Kane. Moreover, according to the same article, he has apparently personally phoned Mikitani to apologize for the video. Dembele intends to follow suit.

You might also be interested in Jane Fonda’s Net Worth: Lifestyle & Career

3 Interesting Facts About Hiroshi Mikitani

  • He earned a 9-Week certificate in Advanced Leadership from Harvard Business School in 2011.
  • Mikitani worked in the banking industry after graduating. He worked for the Industrial Bank of Japan and took some time off to study at Harvard University. After then, he launched his own consulting firm.
  • Mikitani’s grandfather was also a businessman, which is interesting to note. To be more specific, said individual was a co-founder of Minolta, a Japanese camera, camera accessory, and other machine company.

FAQS

What is the value of Rakuten?

Rakuten’s net worth is $17.39 billion as of July 27, 2021. Rakuten, Inc. is a company that provides online services.

Is Rakuten a better alternative than Amazon?

In short, Rakuten provides its brands with a level of control and personalization that Amazon does not. Rakuten offers a more intimate purchasing experience than other platforms due to its amount of control and customization.

Is Rakuten a Chinese-owned company?

Rakuten Group, Inc. is a company based in Tokyo, Japan.(Japanese pronunciation: [akte]), styled as “Rakuten,” is Tokyo-based electronic commerce and online retailing corporation created in 1997 by Hiroshi Mikitani.

0 Shares:
Leave a Reply

Your email address will not be published.

You May Also Like