Tadashi Yanai Net Worth & Biography
|Popular Name:||Tadashi Yanai|
|Real Name:||Tadashi Yanai|
|Birth Date:||7 February 1949|
|Birth Place:||Ube, Yamaguchi, Allied-occupied Japan|
|Profession:||Businessman, Entrepreneur, Investor|
|Net Worth:||$42 Billion|
It has always been said that hard work and perseverance are two qualities of any successful business entrepreneur. An example of a perfect fit for the saying is Tadashi Yanai, a Japanese businessman who has become known as the most successful businessperson in his country.
Tadashi Yanai is the founder, president, and chief executive officer of Fast Retailing, now the fourth-largest apparel company in the world, with more than 2,000 retail stores and a portfolio of brands, including J Brand, G.U., Princesse tam.tam, Comptoir des Cotonniers, Helmut Lang, Theory, and Uniqlo. This businessman became president of his father’s clothing business (which comprised 22 stores) in 1984 and opened a new store called the Unique Clothing Warehouse (later shortened to Uniqlo) in Hiroshima. By 1998, there were over 300 Uniqlo stores across Japan.
CEO Yanai attended Ube High School and later graduated from Waseda University in 1971 with a Bachelor’s degree in Politics and Economics. He is renowned as an inspirational entrepreneur, but as a leader, he has shown that he is as meek as he is ambitious. His 1 billion Japanese yen donation in March 2011 to the victims of the Sendai earthquake, among other charitable contributions, is a testament to his philanthropic side and concerns towards the less privileged in the society.
Early Life: Childhood, Education
Yanai was born in Ube, Yamaguchi, Japan, on 7 February 1949. He also experienced his childhood in the same city where he was born. His parents were Kanichi Yanai and Hisako Mori Yanai.
For his education, he attended Ube High School in Ube, Yamaguchi. He attended Waseda University for his tertiary studies, graduating with a degree in Economics and Political Science in 1971.
His uncle was an activist for the Burakumin minority group known, who have continued to suffer caste-based discernment and discrimination in marriage and employment in modern Japan.
Professional Life: Business Career
After graduating from the University in 1971, Yanai started a business by selling men’s clothing and kitchenware at a JUSCO supermarket. The following year, he quit his activities at JUSCO and joined his father’s roadside tailor shop.
In 1984, he launched his first Uniqlo store in Hiroshima and later changed the name of his father’s business Ogori Shoji to Fast Retailing.
After 18 years of serving as an independent director at the Japanese technology company, SoftBank, he stepped down from the board as it was time for him to move on to other things.
Fast Retailing Co., Ltd. is a Japanese multinational retail holding company. It was founded by Tadashi Yanai as Ogōri Shōji Co., Ltd. in 1963. Almost twenty years after its establishment, the company, which operated a menswear shop in Ube, Yamaguchi, started a casual-wear store named Unique Clothing Warehouse. The company’s name was changed from Ogori Shoji to Fast Retailing Co., Ltd., in September 1991.
Achievements: Awards & Honors
In 2008 and 2009, Yanai was awarded “best company president” by the Sanno Institute of Management.
In 2010, the National Retail Federation in the United States honored Yanai with the International Retailer of Year award He was the fourth person of Japanese nationality to win it and the first since when it was won by Masatoshi Ito in 1998. Ito was the owner of the Ito-Yokado retailing group.
In 2012 Bloomberg Markets Magazine included him in the 50 Most Influential people’s list.
In 2018, The Business of Fashion named him one of the 500 most influential icons in the fashion industry.
Personal Life: Wife, Children, Private Interests
Yanai is a happily married businessman. He resides in Tokyo, the capital of Japan, with his wife and their two children. His children’s names are Kazumi and Koji Yanai.
Tadashi Yanai Net Worth: Salary, Income Sources, Assets
The Japanese entrepreneur and fashion icon, Tadashi Yanai, is reported to own a fortune of $42 billion. A renowned businessman and philanthropist, Mr. Yanai is the founder, president, and chief executive officer of the Japanese company, Fast Retailing, which is the holding company for Uniqlo retail stores.
He is currently the wealthiest person in Japan. His 46 percent stake in Fast Retailing, which happens to be the largest apparel maker in Asia is the primary source of his massive wealth. Fast Retailing is now the fourth-largest apparel company in the world, with more than 2,000 retail stores and a portfolio of brands, including J Brand, G.U., Princesse tam.tam, Comptoir des Cotonniers, Helmut Lang, Theory, and Uniqlo. His 17 thousand square foot home near Tokyo is said to have cost him around $130 million. He also owns a $74 million apartment in an affluent area in Shibuya. In addition to those properties, Yanai owns the Kapalua Bay which he paid $24.1 million for, and the Kapalua Plantation Golf Course in Hawaii which he paid another $50 million for.