SoftBank Group’s Masayoshi Son has become the richest person in Asia amid the AI boom. Market euphoria has propelled shares of the Tokyo-listed investment giant to a record high, making it Japan’s most valuable company by market capitalization on Monday, overtaking automaker Toyota Motor.

The 68-year-old mogul now has a net worth of $97 billion, largely derived from his SoftBank stake, according to Forbes estimates. He has surged past Reliance Industries Chairman Mukesh Ambani, whose fortune stands at $90 billion, to become the richest person in Asia, according to Forbes’ Real-Time Billionaires List.

With a market cap now sitting at $298 billion, SoftBank shares have rallied over 80% this year as Son’s AI-related investments boost market sentiment. During a Monday interview with CNBC, the mogul said the AI revolution was likely 50 times greater than opportunities in the dot-com era.

“I think this is like more than 10x, probably 50x bigger than dot-com,” Son was quoted as saying. The previous day, he announced........

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