business

Fashion tycoon Maezawa says he is selling valuable paintings because he has no money

22 Comments
By Sam Nussey

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22 Comments
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he is rich in life even spent most of his money, life is short. enjoy while you can.

0 ( +1 / -1 )

His selling is not valuable, for sure.

-3 ( +1 / -4 )

Isn’t that an oxymoron - a broke billionaire

8 ( +8 / -0 )

You can make a fortune quick in the Fashion world.... but if you have no Financial sense, well, you could end up like this guy. If he ends up living a life into his 90's, he'll be wishing he paid more attention to the business side of fashion.

5 ( +5 / -0 )

Yes, "art loving billionaire" who "has no money". I don't get it.

1 ( +1 / -0 )

That's a good reason to sell.

2 ( +2 / -0 )

It is not at all unusual for the very rich not to have cash-in Japan holding cash is not at all profitable.

However, Maezawa san has invested in art which he can now sell, most likely at a nice profit.

Smart guy!

1 ( +3 / -2 )

Maezawa san doesn't need any advice from us JT readers, I reckon he has got his life down to a fine art, how to make lots of money, and how to really enjoy spending lots of money.

Man can not live on food alone, and you can't take money with you when you die.

2 ( +5 / -3 )

Really troubling that a Japanese National Hero, for his Space exploration, can fall on hard times like this. Everyone should get behind ZOZO and support Maezawa san.

-13 ( +1 / -14 )

he'll be wishing he paid more attention to the business side of fashion.

Art appreciates much faster than a conservative 401k. Buying expensive art is a very good investment, especially the art he purchased. Instant cash will be coming his way.

0 ( +0 / -0 )

.

what's he blowin his cash on to make him 'bankrupt?

-2 ( +0 / -2 )

Easy come....Easy go!

0 ( +0 / -0 )

Or maybe this is a strategy for dealing with the tax man.

3 ( +3 / -0 )

Going by the laughing emoji, I wouldn't take his comment literally. However, someone with attention-grabbing, profligate spending habits like this is always at risk for a quick bankruptcy.

1 ( +1 / -0 )

Art is a good way to get money out of any country that and diamonds. If he was really broke then he would be selling his more expensive artwork.

2 ( +2 / -0 )

No matter how much money you have, you can buy coolness. Stay in your lane Mr. Maezawa.

That being said, he made a lot of money, but I doubt he has much financial sense. Truly wealthy people tend to spend money on items that make more money!

1 ( +1 / -0 )

"You can't buy coolness."

0 ( +0 / -0 )

I am sure fashion tycoon Yusaku Maezawa auditors and accountants would 'paint and different picture'.

Yusaku Maezawa, other than possessing a finely developed sense of humour, has some fine art to auction.

Pleading poverty or cash flow difficulties, is par for the course for raising the sale profile, attracting interest from potential bidders.

A picture tells a thousand stories, the cost for the suit alone, tycoon Yusaku Maezawa parted with, could well cover the cost of a J-families annual food and energy bills.

0 ( +0 / -0 )

He is just generating publicity for the sale. Smart man.

Economy good now so good time to sell.

2 ( +2 / -0 )

Guy is always seeking publicity and this is nothing but a publicity stunt.

-1 ( +0 / -1 )

Yes, "art loving billionaire" who "has no money". I don't get it.

Asset-rich but cash poor; a lot of people invest everything in assets and are not liquid. Assets are great, but you need to remain liquid and have cashed squirreled away too.

1 ( +1 / -0 )

You won’t see me celebrating this narikin arriviste’s wasting of millions on Basquiat paintings and other obscene indulgences, or lamenting his recent financial travails. Especially not here, where untold millions struggle to survive on meager pensions, are working themselves to death and are still up to their eyeballs in debt, or are jumping in front of trains. Don’t get me started on the paucity of green spaces to relax and unwind. If money is good for anything, it should be used to ameliorate the conditions of the majority.

1 ( +1 / -0 )

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