$300 million? $300 million!
That’s right, folks– a single duder is out an estimated $300 million for the recent drop in Nintendo stock, as reported by Bloomberg earlier today. The duder in question? Nintendo’s own former president and currently its single largest stockholder: Hiroshi Yamauchi.
The fall in stock was in response to Nintendo’s quarterly loss reports, which really aren’t surprising given the relatively poor sales of the Wii (for both software and hardware), and an adoption rate for the 3DS which has been much slower than Nintendo predicted it would be.
Yamauchi ran things at the big N for 53 years before Iwata took over in 2002, and is understandably well off for himself. Before the hit, he was worth an estimated $4.6 billion. So, while he won’t exactly be searching for two pennies to rub together, it’s a reasonable portion of his wealth.
