updated 06:25 am EDT, Mon April 4, 2011
Masayoshi Son to support quake orphans
Softbank president Masayoshi Son, Japan's wealthiest man, has pledged to donate $120 million and his remaining income until he retires to support the victims of the Japan earthquake. Softbank will also contribute an additional $1.2 million in addition to the latest contribution made by its chief. In particular, Son aims to direct his financial support to the many children who were orphaned as a result of the devastating March 11 quake and ensuing tsunami.
According to the Bloomberg report, Son who is aged 53, earned around $1.5 million in salary and dividends for fiscal 2010. Further, his 21 percent stake in Softbank is worth in excess of $700 million. Since the quake he has ensured that owners of iPhone 4s who had them damaged, destroyed or lost as a result would get free replacement iPhone 4s. He has also promised free phones and phone service to children orphaned in the quake until they are aged 18.
Son's efforts have also been supplemented by foreign financial companies including Goldman Sachs, Morgan Stanley and JPMorgan Chase who have combined to donate over an additional $7 million.