“Wild Story: Onion Volcanoes, Speedboats, Insider Trading, and $50 Million Family Feud”

In the late 1970s, the life of Rocky Aoki seemed like a story straight out of a movie he was directing himself. From a Japanese-born wrestler to a successful restaurateur, he turned Benihana into a dining hotspot in the United States. Known for the theatrical experience of chefs juggling knives and creating onion volcanoes, Benihana was frequented by celebrities like Muhammad Ali and Sean Connery. However, outside of work, Rocky lived a life just as extravagant, racing speedboats, setting ballooning records across the Pacific, engaging in high-stakes backgammon games, and embracing a hedonistic lifestyle with drugs and extramarital affairs.

His life took a dramatic turn in 1979 when his boat crashed in San Francisco Bay, almost costing him his life. Awakening in the hospital surrounded by both his wife and mistress, Rocky found his empire on the brink of disintegration. What followed was a prolonged period of legal battles, betrayals, and family feuds that pitted his children against their stepmother in a fight for control of a $50 million fortune and the Benihana restaurant business.

Born in Tokyo in 1938, Rocky Aoki was the son of Yunosuke and Katsu Aoki, his father being a performer and restaurateur who founded Benihana. Early on, Rocky dabbled in music with a band called Rowdy Sounds before finding success in athletics, excelling in wrestling, karate, and track and field. His journey took him to the United States, where he won three consecutive U.S. national AAU flyweight championships, funded by earnings from driving an ice cream truck.

In 1964, at the age of 25, Rocky opened the first Benihana in Manhattan, introducing teppanyaki dining with a unique twist of chefs doubling as entertainers. Thanks to a favorable review in the New York Herald Tribune, the restaurant became a sensation, ultimately expanding to nearly 20 locations and generating substantial revenue.

Rocky’s success in the culinary world allowed him the freedom to indulge in various other ventures. From powerboat racing and setting world records to launching a nightclub and a men’s magazine, he embraced a life of extravagance and flamboyance. While his antics kept him in the public eye, they also took a toll on his health and personal life, marked by numerous scandals and failed marriages.

In the late 1990s, Rocky’s penchant for risk extended to the stock market, culminating in an insider trading scandal that led to his resignation as chairman of Benihana Inc. To protect the family’s assets, particularly Benihana of Tokyo (BOT), which held valuable international franchises, Rocky established a trust managed by his children and a family friend, planting the seeds for a complex inheritance battle that would ensue.

In 2002, Rocky’s secret marriage to Keiko Ono triggered a family feud, with his children accusing Keiko of attempting to seize control of the family assets. Despite their efforts to thwart her influence through legal means, the battle raged on, leading to Rocky disinheriting some of his children and revising his will to favor Keiko. The ensuing conflict revealed deep fissures within the family, even as two of Rocky’s children, Steve and Devon, pursued their own careers in music and acting, respectively.

The legacy of Rocky Aoki, marked by both his entrepreneurial success and tumultuous personal life, continues to loom large over the Benihana brand and his family’s fortune, serving as a cautionary tale of the perils of extreme wealth and family discord.