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.
Maezawa is worth roughly $3.5 billion, according to Bloomberg data.