With the help of Artificial Intelligence, a 32-year-old man became a billionaire, created assets of US $ 950 million
An interesting case of earning billions by using Artificial Intelligence has come to the fore. A 32-year-old youth in Japan is now about to become a billionaire. As of now, it has assets of US$ 950 million approximately US$ 1.27 billion.
In Japan, the country with the world's oldest population, 32-year-old Shunsaku Sagami is now going to become a billionaire. Worldwide, with the help of Artificial Intelligence (AI), more than one record is being set. A similar case is also emerging in Japan. Shunsaku has built himself a fortune of US$950 million with the help of AI.
Making full use of machines and technology, Shunsaku Sagami has employed retirees from small and medium-sized companies to broker deals for his research firm using AI and databases.
Shunsaku Sagami's M&A research institute holdings have soared sevenfold since listing in Tokyo last June, according to the Bloomberg Billionaires Index, giving Sagami a fortune of about US$950 million ($1.27 billion).
Actually, Japan has the largest number of elderly people in the world, so the industrialists there do not get their successors, due to which many businesses have to be forced to close. This problem also happened to Shunsaku Sagami, when his father had to close the real estate business because he could not find a successor.
According to the M&A Research Institute, 620,000 profitable enterprises in Japan are at risk of closing due to a lack of successors, and the government estimates that by 2025 there will be 2.5 million small and medium-sized firms with owners over the age of 70.
Nearly half of them have no plans for the future, which could lead to the closure of companies and the loss of 6.5 million jobs, costing 22 trillion yen ($222 billion) in GDP.
In 5 years, the M&A Research Institute has grown to over 160 employees, including 115 consultants and approximately 500 deals in the works. It has finalized 62 transactions till March. Sales were just 376 million yen in the fiscal year ending September 2020.
The company earns money when the transaction closes. The company charges up to 5 percent for deals of 500 million yen or less. According to statistics, they averaged 60 million yen per sale in the latest quarter.
