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Business trends

Uniqlo's Yanai unseats SoftBank's Son as Japan's richest man

Family wealth hits $24.9bn as Fast Retailing gains in value, Forbes says

First and second: Tadashi Yanai, president and chairman of Fast Retailing, top, and SoftBank Group Chairman and CEO Masayoshi Son (Nikkei Montage)

TOKYO -- Tadashi Yanai, founder of Uniqlo parent Fast Retailing, dethroned SoftBank Group Chairman and CEO Masayoshi Son as Japan's richest person, U.S. magazine Forbes said on Thursday.

Yanai's net worth rose $5.6 billion to $24.9 billion, propelling him to the top for the first time since 2016. The gains were mainly thanks to the rise in the value of Fast Retailing, the world's third-largest clothing retailer, in which Yanai and his family own a 44% stake.

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