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Ex-Nintendo President Yamauchi Is $300 Million Poorer
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]
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