Japanese billionaire regrets losing millions on stock trading

INTERNATIONAL – A Japanese billionaire said on Twitter that he had lost 4.4 billion yen (693.12 million rand) trading stocks amid the volatile swings caused by the pandemic.

In a tweet titled “Deep Regrets,” Yusaku Maezawa, founder and former CEO of online fashion retailer Zozo Inc., said he lost money through day trading, a practice he has failed to master. He expressed his regret for the sum he had lost and promised to get it back through his business.

“I was blinded by the virus-driven market swings and lost 4.4 billion yen through repeated short-term stock trading, something I have not become familiar with,” Maezawa said in Sunday’s tweet. “With 4.4 billion yen, how many people could the money have been given and saved? This repentance has no end. “

Maezawa, whose net worth fell by around $ 215 million this year to $ 3.5 billion according to data compiled by Bloomberg, is well known for doing tricks on Twitter.

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