|Net Worth:||$9 Billion|
|Born:||March 11, 1965|
|Country of Origin:||Japan|
|Source of Wealth:||Founder of Rakuten Inc.|
Hiroshi Mikitani is the CEO and co-founder of Rakuten, a Japanese e-commerce company that has now expanded into multiple countries and hit global success.
Hiroshi’s net worth is growing more and more every year, so there’s definitely a lot that can be taken in from his background and his story of taking his local business world wide.
In 2020, Hiroshi Mikitani’s net worth is estimated at $9 billion.
Hiroshi Mikitani was born in Kobe, Japan.
In terms of what his family did for a living, his father Ryoichi was an economist, and his mother Setsuko worked for a major trading company. Hiroshi also has two siblings; a sister named Ikuko and a brother called Kenichi.
There isn’t much other background info that can be found on Mikitani’s early life; other than the fact that he graduated from the Hitotsubashi university in 1988, and studied at the Harvard Business School in 1993 after transferring to the US.
This was at the time he was working for the Industrial Bank of Japan.
Prior to the creation of Rakuten, there wasn’t much to Hiroshi’s career.
After graduating in 1988, he started working the Industrial Bank of Japan, and left 9 years later to start the Crimson consulting group in 1997. It was in that same year that he founded Rakuten.
It just goes to show that Mikitani wasn’t the sort of person to give up on businesses or jobs and move onto the next.
He worked at one company for a solid nine years and then started his own business, which he always made an effort to keep going and to succeed. Many other people would have given up at the first sign of trouble.
Rakuten was founded in February 1997 by Hiroshi Mikitani and a few other co-founders, who raised 250,000 of their own money in order to fund the startup.
Rakuten is a group consisting of over 40 different business and services, contained within the following different industries:
- Online Retail
Examples of some of these businesses are Rakuten.com, Play.com which is a relatively new acquirement for the UK side of the company, Viber, Kenko.com and Aquafadas.
Rakuten was based only in Japan until 2005, when it began expanding and purchasing and building sub-companies across the UK, Canada, US, France and Spain.
The two most noticeable and recent investments are the purchasing of Play.com for £25 million, and Viber for $900 million.
Rakuten now employs over 11,000 people, an absolute whopping number of people; and their revenue is in the billions every year.
3 Business Lessons from Hiroshi Mikitani
Hiroshi recently wrote a short article on LinkedIn, about his tips for empowering an organization. Here’s what Mikitani said in the article he kindly shared with us:
1. Emphasize Teamwork
We demand employees work collaboratively to solve problems, and that helps to create a culture of empowerment.
To each individual, we say: You are not responsible just for yourself. You are responsible for the success of the team. Collaboration encourages individuals to give more to their team, and to expect more in return.
2. Allow for Failure
Business is different than sports. In sports, you only get a certain number of chances to succeed. If time runs out or you take three strikes, that’s the end. In business, you can swing as many times as you like.
But to keep employees swinging, leaders must constantly emphasize that we will accept strikes. Failure will happen. Accept that and employees are empowered to keep trying.
3. Prevent Chaos
Empowerment can’t mean letting everyone loose to do whatever they like. At Rakuten, one way we seek to guard against chaos is the rigorous use of KPI – key performance indicators. We measure everything.
We know how long it takes for projects to move through completion. We know how many engineers it takes to execute a change in the system.
We even know how long it takes for an employee in the lobby to reach the company meeting room on the 12th floor. To keep this group of empowered employees on task, we set clear and specific goals.
Hiroshi Mikitani is an incredible successful entrepreneur, with a net worth of $9 billion!