AFP reports Japanese 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.