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Ex-Nintendo President Yamauchi Is $300 Million Poorer

News

by Matthew Kato on July 29, 2011 at 12:50 PM

9,417 Views

Former Nintendo president Hiroshi Yamauchi just lost more than $300 million in stock value due to Nintendo's 3DS price drop.

The company's stock price fell 12 percent on the news that it was dropping the price of the 3DS yesterday. Yamauchi, the former president and great-grandson of Nintendo's founder, reportedly held 10 percent of the company's stock as of March 31 of this year. This means that his stock is now worth $312 million less than it was before the announcement, reports Bloomberg.

Yamauchi isn't the only Nintendo luminary to be feeling the heat. Today current president and CEO Satoru Iwata announced that he and other executives will be taking a pay cut as Nintendo tries to find its way.

[via IGN]

Email the author Matthew Kato, or follow on Twitter, and Game Informer.

Filed under: News, Nintendo, Satoru Iwata, Nintendo 3DS, 3ds, Hiroshi Yamauchi

Comments

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by Boyzby Friday, July 29, 2011 at 12:55 PM

That's pretty crazy but it'll bounce back.
by John Hollingsworth Friday, July 29, 2011 at 12:56 PM

Dang. Sucks, bro.
by TP4Bunghole Friday, July 29, 2011 at 12:58 PM

I think Nintendo is a little lost.
by ShadeLurker Friday, July 29, 2011 at 12:59 PM

Seems like Nintendo is in a real bind, here. They better pray that the Wii U is as successful as it is ambitious.
by kendalsmitty Friday, July 29, 2011 at 01:00 PM

It good for the consumers though, sucks for these guys... I think the gaming industry in general is lossing money for numerous reasons, its tough!
by John Friday, July 29, 2011 at 01:04 PM

Ouch! I'm not trying to diminish his losses, but losing $300 million over a few percentage points in the stock market is just a drop in this guy's bucket. It's like Japan's version of Bill Gates.
by alex720 Friday, July 29, 2011 at 01:05 PM

Heres hoping the 3DS sells more due to the price drop. I love mine but the only game I have is SSF4. I can't shake the feeling that if this makes Nintendo lose money, then if the Wii U flops, Nintendo could become history.
by sebastian Friday, July 29, 2011 at 01:06 PM

hope this gets better
by Steve Friday, July 29, 2011 at 01:07 PM

There is a ton riding on next year.
by Joseph Friday, July 29, 2011 at 01:11 PM

Yeah, stock is huge, but it has the potential to go back up. Its not like he is certainly out for 300 million. Though, we have to wait and see if they do bounce back.
by Eyros Friday, July 29, 2011 at 01:12 PM

That's a bit of a hit x.x
by mechwd Friday, July 29, 2011 at 01:13 PM

Only going to get worse with the WiiU
by gamelizard king of the Squamata Friday, July 29, 2011 at 01:14 PM

great time to buy nintendo stock
by Abertix24 Friday, July 29, 2011 at 01:18 PM

Although $300 million is no laughing matter, to him it's probably losing a couple hundred dollars. I remember reading somewhere he has like $4.5 billion, so it's just pocket change to him.
by Joseph Harrie Friday, July 29, 2011 at 01:23 PM

This does suck for them, but this is what happens when people want price drops, its just how business works, the difference is though is that Nintendo isnt gonna have a problem recouping these loses...its Nintendo
by Like God Friday, July 29, 2011 at 01:23 PM

Hopefully they are taking notes for the Wii U launch next year. 1) Good price point 2) Solid launch titles 3) Third party support 4) Better online and lose the friend codes If they can do that they'll get my money day one
by porturican94 Friday, July 29, 2011 at 01:23 PM

why? it only costs like $100 to make each system, and now many more will be able to purchase one. They'll still be making money, why are the stockholders going crazy over this?
by TheGreatGoatsbee Friday, July 29, 2011 at 01:24 PM

Nintendo is taking it hard. Dang, kinda feel bad.
by SixSpeedSamurai Friday, July 29, 2011 at 01:26 PM

Props to the Nintendo Execs for taking a paycut. That would not happen here in the U.S.