Japanese billionaire laments $41 million loss from day trading in volatile stock market
- Japanese billionaire Yusaku Maezawa expressed regret on Sunday for day-trading stocks and losing 4.4 billion yen (roughly $41 million) in the process.
- The former CEO of e-commerce company Zozo said he began trading before understanding enough about the practice.
- "I was blinded by the virus-driven market swings," he tweeted, adding "how many people could the money have been given out to and saved?"
- The billionaire said he plans to recoup the lost cash through his businesses.
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Japanese billionaire Yusaku Maezawa revealed Sunday he regrets day-trading stocks and losing 4.4 billion yen (roughly $41 million) as the coronavirus pandemic fueled strong market volatility.
The founder and former CEO of e-commerce firm Zozo said in a tweet he fell into the trap of short-term trading before learning more about the practice. He also lamented how the lost cash could've helped others.
"I was blinded by the virus-driven market swings and lost 4.4 billion yen through repeated short-term trading of stocks, something I haven't familiarized myself with. With 4.4 billion yen, how many people could the money have been given out to and saved?" Maezawa wrote, adding he plans to recoup the losses through his business.
Bloomberg first reported on Maezawa's tweet.
The former CEO isn't new to making striking remarks online. In January, Maezawa tweeted a link to a website taking applications for women to accompany him on a trip to the moon. The billionaire is set to take SpaceX's first tourist trip to the moon in 2023. Maezawa canceled the competition weeks later, simply citing "personal reasons" for the move.
Maezawa is worth roughly $3.5 billion, according to Bloomberg data.
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