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Yasumitsu Shigeta
#668

Yasumitsu Shigeta

Source of wealth: Mobile phone retailer

Net Worth

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Biography

Yasumitsu Shigeta is chairman of Tokyo-listed Hikari Tsushin, which sells mobile phones and cellular services for major Japanese carriers.

The company also supplies electricity and gas to small and mid-size businesses besides selling insurance and office equipment.

He founded Hikari Tsushin in 1988. The dotcom crash in 2001 wiped out much of his fortune.

He rejoined the Forbes World Billionaires list in 2005 when shares of Hikari Tsushin rebounded.

Financial Assets

Exchange
TOKYO
Ticker
9435-JP
Company
Hikari Tsushin Inc.
Exchange
TOKYO
Ticker
4686-JP
Company
Justsystems Corp.

The Great Lie of Mega-Fortunes: The Case of Yasumitsu Shigeta

Billionaires are often presented under the romantic myth of the 'self-made person': a narrative designed to justify opulence as the natural reward for hard work, effort, or ingenuity. However, when confronting such extreme volumes of wealth with macroeconomic reality, the meritocracy narrative completely breaks down. No individual can legitimately generate through personal effort a fortune equivalent to millions of times the average working-class salary. Capital at the top does not grow because of exceptional talent; it expands through an implacable dynamic where accumulated money works exponentially faster than people, devouring the wealth generated by productive labor.

The immense fortune of Yasumitsu Shigeta, linked to Telecom and 'Mobile phone retailer', has not been built in a free-market vacuum, but through rent-seeking, the use of exclusive elite influence, the consolidation of monopoly positions, or inherited wealth. Far from taking real private risks, billionaire empires structurally depend on state support through direct subsidies, infrastructure use, exploitation of R&D, public contracts, and offshore tax engineering. While this wealth is equivalent to the physical weight of 44 tons of pure gold, the rest of the planet suffers from an artificial scarcity of basic resources. The fact that this wealth is enough to fully fund the public health system of DR Congo, a country with more than 105800000 million inhabitants for 2.8 years, proves that unlimited accumulation is not an entrepreneurial achievement, but the hijacking of democratic sovereignty.

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