Meet the Man Behind Residential Tokyo Who Was Once the World’s Richest Person
The young people of today grew up to the Microsoft founder Bill Gates being the richest man in the world. Before he ascended to this top position though, the spot at the summit of wealth was held by a former economics professor from Japan.
Dubbed as Tokyo’s landlord (or ooya-san), Taikichiro Mori was the wealthiest person in the world in 1992 clocking in a fortune of $16 billion or $84.4 billion when converted to today’s money.
Even more admirable is that he achieved this feat after leaving his career in academia at 55 years old to finally build a real estate empire in the Japanese capital’s downtown area. The Mori Building Company has created an estimated 80 buildings.
Mori’s venture into the real estate business began after his retirement and his father’s death in 1959. Despite the personal circumstances that led him to finally take on the family business, his timing proved to have been just right as the Asian country was gearing for fast expansion at the time. His efforts literally started from home as he turned his neighborhood, Toranomon, into a modern urban center.
What set him apart from other developers is his unique take on his job as a landlord. He reportedly spent 17 years trying to convince some 500 citizens to approve his redevelopment plan. Mori even allowed some of them to have new apartments at his expense.
Aside from accommodating the needs of regular residents, Mori also managed to attract foreign companies and other businessmen with the close location of his office and residential towers.
One of his most notable projects is the Ark Hills complex, a space that houses a variety of shops, apartments, offices and even a hotel. This kind of setup allowed office workers and executives to live in a convenient place where all of their immediate needs are present.
Thanks to his work and vision, Mori is credited for changing his neighborhood. Unfortunately, he didn’t get to enjoy his title as the richest man in the world for long as he died just a year after he earned the title. He was 88 years old.
His sons Minoru and Akira Mori inherited the family business and continued it the same way he did for his own father. Mori Building Company is reportedly being run by Miwako Date, Mori’s granddaughter.
More in Lifestyle
Ariel Winter Claps Back Against People with Harsh Opinions About Her Transformation
Celebrities live a charmed life. It’s not always sunshine and rainbows for them though. Living in the public eye, stars often...April 18, 2020
Pink Tested Positive for COVID-19, Here’s How Her Family is Coping with the Illness
Testing positive for COVID-19 can send anyone in a panic. After all, the respiratory illness, brought by the fast-spreading novel coronavirus,...April 18, 2020
What is Warren Buffett’s Next Move After Losing Billion Amidst Coronavirus Panic?
Warren Buffett is among the most admired and trusted investors in the world. Thus, it’s not surprising that many are watching...April 18, 2020
5 Things You Need to Do Right Now If You’re Dealing with Job Insecurity
Times like these could easily make one stress out more about the status and stability of their current job. After all,...April 17, 2020
How This 2nd Generation Immigrant Entrepreneur Landed a Business Deal with a Billionaire
Immigrants and their children often have to work harder than to prove themselves and achieve the same level of success that...April 17, 2020
Covid-19 Could be Disastrous for College Students, But Here’s the Solution if You Can’t Pay Your Fees This Year
The topic of the high cost of tertiary education in the United States has long been a societal concern. Now, it’s...April 17, 2020
Spanx CEO Is Saving Brides’ Special Day By Lending Them Her Own Wedding Dress!
Sara Blakely has been helping lots of women and brides around the world to fit into their clothes and feel better about...April 17, 2020
This Man Made Billions from Coronavirus Crash But He Might Get in Trouble for It
A lot of investors are currently dealing with the aftermath of the coronavirus panic’s impact on the stock market. Both small...April 17, 2020
How to Take Back Control Over Your Finances When Everything Else Is Falling Apart
The widespread disruption to normal life caused by the coronavirus pandemic not only halted the social lives of Americans but also...April 17, 2020