AFPreportsJapanese billionaire billionaire Yusaku Maezawa, who has booked a trip around the moon with SpaceX, will sell a majority stake in the Zozo fashion retailer he founded to Yahoo Japan for as much as 400.7 billion yen ($3.7 billion).
Yahoo Japan will acquire up to to 152.95 million shares for a 50.1 percent stake in the company, AFP reports. The total includes 92.7 million shares owned by Maezawa, who holds 30.37 percent of Zozo.
AFP reports he decided to sell to focus on a new business and his plans to fly around the moon in SpaceX’s Starship vehicle in 2023.
“I will leave Zozo’s future in the hands of a new president, and I’ll move on to a new path,” he said in a tweet.
The 43-year-old former wannabe rock star has a personal fortune this year valued around $2 billion, making him Japan’s 22nd richest person.
He made international headlines by booking a ticket aboard a SpaceX rocket, as well as for his purchase in 2017 of a Jean-Michel Basquiat masterpiece for $110.5 million.
At a press conference on Thursday, Maezawa cited his space plans and ambition to start a new business as reasons for stepping down.
Japanese entrepreneur Yusaku Maezawa was introduced on Monday as the customer for SpaceX’s planned circumlunar flight aboard the Big Falcon Rocket (BFR).
The 42-year old billionaire, who founded the clothing company Zozo (www.zozo.com) and collects high-priced art, said he plans to invited six to eight artists on the trip who would create works of art after returning home. The passengers could include painters, sculptors, film directors, architects, writers and fashion designers.
Musk praised Maezawa as brave to take the flight. “This is dangerous, let’s be clear,” Musk warned. “This is no walk in the park.”
Maezawa’s flight is tentatively scheduled to occur in 2023. SpaceX Founder Elon Musk admitted he was not sure of the date because BFR is still under development.
Musk said Maezawa made a significant deposit on the expensive voyage around the moon. The funds will help fund the development and testing of the reusable rocket/spacecraft, which Musk estimated will cost $5 billion.