Tuesday, April 23, 2024
HomeBusinessCEOsAkio Toyoda Net Worth

Akio Toyoda Net Worth

Akio Toyoda (豊田 章男, Toyoda Akio, born 3 May 1956) is a Japanese business executive who is the chairman of Toyota Motor Corporation. He was previously the company’s president and chief executive officer (CEO). Toyoda is a great-grandson of the industrialist, Sakichi Toyoda, and a grandson of both the founder of Toyota Motors, Kiichiro Toyoda, and the founder of the Takashimaya department stores corporation, Shinshichi Iida.

On 1 April 2023, Toyoda stepped down as Toyota president and became chairman of the board. Toyota’s chief branding officer, Koji Sato, succeeded Toyoda as CEO.

What is Akio Toyoda’s Net Worth?

Akio Toyoda is a Japanese business executive who has a net worth of $600 million. Akio Toyoda is the grandson of Kiichiro Toyota, Toyota’s founder, and the son of Shoichiro Toyoda, the man who led the company to prominence. Akio Toyoda served as the president of Toyota Motor Corporation from 2009 to 2023. Today Toyota is one of the largest automobile manufacturers in the world. Akio Toyoda is also the grandson of Shinshichi Iida, the founder of the Takashimaya department store company.

Net Worth: $600 Million

Salary: $5 Million

Date of Birth: May 3, 1956 (67 years old)

Place of Birth: Nagoya

Gender: Male

Profession: Businessperson

Nationality: Japan

Toyota Stock Holdings

According to the company’s most recent disclosure, Akio Toyoda controlled 4,752,895 shares of Toyota stock. On the day he stepped down in April 2023, Toyota’s stock was trading at around $140 per share. At that level, Akio’s shares were worth $665 million.

In January 2022, Akio Toyoda was briefly a billionaire (on paper) when Toyota stock hit $210 per share.

At the time of his father’s retirement in 2009, the last point the company made a disclosure, Shoichiro Toyoda owned 11,176,193 shares of the company. Shoichiro Toyoda died in 2023.

Salary

Akio Toyoda’s base salary at the time he stepped down was 685 million yen, which is the same as around $5 million USD.

Early life and education

Toyoda is the great-grandson of the Toyoda Automatic Loom Works founder Sakichi Toyoda, and grandson of Toyota Motor Corporation founder Kiichiro Toyoda. He was born 3 May 1956, in Nagoya, to Shoichiro Toyoda and Hiroko (née Mitsui). Toyoda’s family line have long dominated the upper management of the family businesses since the days his carpenter-farmer great-great-grandfather, Ikichi Toyoda, taught his son fabrication and carpentry. Akio Toyoda was the chief contender for the family business when Katsuaki Watanabe was reassigned as Vice-Chairman in the wake of the quality control crisis.

Toyoda completed his undergraduate degree in law at Keio University and was awarded his Masters of Finance at Babson College, Massachusetts. He would join the family business in 1984.

Career

As grandson of the company’s founder, Toyoda joined Toyota’s board of directors in 2000. In 2005, Toyoda was promoted to the position of executive vice president. In January 2009, it was announced that Toyoda was chosen as the forthcoming president of the company. On 23 June 2009, he was confirmed as the new president, along with four new executive vice presidents and eight new board members. The previous president and CEO Katsuaki Watanabe became vice chairman, replacing Katsuhiro Nakagawa.

In 2012, he was named Autocar’s Man of the Year.

Master driver “Morizo”

As an avid auto racing fan and driver himself, Toyoda has promoted sports models including the Lexus IS F and Lexus LFA at auto races. He has participated as a driver at events including the 2009 24 Hours Nürburgring race employing the pseudonym Morizo Kinoshita. In 2009, he reached the 87th position overall and the fourth position in his class with his LF-A Prototype No. 14.

In 2016, Toyoda approved the project that would result in the GR Yaris; during the development of that car, Toyoda (as Morizo) served as a test driver. Morizo crashed the first test car during a mid-winter test drive at a Hokkaido track; after exiting the car on his own, he remarked that he did not “like the feel of it”. As Morizo, Toyoda continued to drive development prototypes, and since the car’s release, has campaigned the car in races

Toyota Motor Corporation

As the grandson of the founder of Toyota Motor Corporation, Toyoda joined the company’s board of directors in 2000. Five years later, he was promoted to executive vice president. Finally, in early 2009, Toyoda was named the new president of the company, succeeding Katsuaki Watanabe. As a passionate driver and auto racing fan, he spent much of his time as president promoting Toyota’s sports models, such as the Lexus IS F and Lexus LFA. Moreover, under the pseudonym Morizo Kinoshita, Toyoda participated at various racing events, including the 2009 24 Hours Nürburgring. In 2016, he approved the development of the GR Yaris, and went on to test drive the car at a track in Hokkaido. Although he crashed the first test car, Toyoda continued to drive further development prototypes.

- A word from our sponsors -

Most Popular

More from Author

Angola’s Billionaire Elite: Unveiling the Top 10 Wealthiest Moguls in 2024

Here's a look at Angola's wealthiest individuals in 2024, highlighting the...

Algeria’s Billionaire Elite: Unveiling the Top 10 Wealthiest Moguls in 2024

Algeria, with its significant oil and gas reserves, has a group...

Ethiopias’s Billionaire Elite: Unveiling the Top 10 Wealthiest Moguls in 2024

Ethiopia, known for its rich cultural heritage, is also home to...

- A word from our sponsors -

Angola’s Billionaire Elite: Unveiling the Top 10 Wealthiest Moguls in 2024

Here's a look at Angola's wealthiest individuals in 2024, highlighting the top entrepreneurs and business magnates who are shaping the country's economic landscape. This list is current for 2024 and excludes Isabel Dos Santos, focusing on the new and prevailing forces in Angola's billionaire circle.Angola’s Billionaire Elite:...

Discover the Ultimate Road Companion: Nissan Caravan Now Available in Mombasa, Kenya

Are you on the hunt for a vehicle that combines robust performance with spacious comfort? Look no further than the Nissan Caravan, currently on offer in the bustling city of Mombasa, Kenya. Ideal for businesses requiring cargo transport, groups seeking adventure, or families needing extra space, the...

Algeria’s Billionaire Elite: Unveiling the Top 10 Wealthiest Moguls in 2024

Algeria, with its significant oil and gas reserves, has a group of wealthy individuals whose influence spans across various industries including construction, manufacturing, food, and pharmaceuticals. Here is a table summarizing the top 10 wealthiest individuals in Algeria as of 2024:As of 2024, here is the latest...

Rising Icon of Sport: Kenya’s Talanta Stadium Set to Redefine African Athletics

Kenya's Pinnacle of Pride: Unveiling the Talanta Sports CityNAIROBI-KENYA | Amidst the bustling energy of Nairobi, a new landmark rises - the Talanta Sports City. A marvel of architecture that intertwines the spirit of Kenyan heritage with cutting-edge design, this stadium is poised to become a beacon...

Ethiopias’s Billionaire Elite: Unveiling the Top 10 Wealthiest Moguls in 2024

Ethiopia, known for its rich cultural heritage, is also home to some of the wealthiest individuals in Africa. These moguls have diversified their investments across various sectors including oil, mining, agriculture, and real estate, significantly contributing to the nation's economic development. Here's a look at the top...

Trailblazers of Wealth: Kenya’s Five Most Influential Women in 2024

Kenya's economic landscape is distinguished not only by its vibrant markets and industries but also by the formidable women who have risen to the top of these sectors. As of 2024, here is a detailed look at the five richest women in Kenya, highlighting their net worth,...