Last updated on December 8th, 2022 at 02:41 pm
CD Projekt RED Founders Cumulatively Lost $ 1 Billion Following Cyberpunk 2077 Release
The Cyberpunk 2077 release turned out to be problematic due to the abundance of bugs and the situation with the console versions. This provoked massive criticism of CD Projekt RED from users and the press. As a result, the company’s share price has declined by 46% since the beginning of December. These numbers were reflected in the wealth of the CDPR founders, who collectively lost $ 1 billion.
CD Projekt RED was founded by four people: current CEO Adam Kicinski, current CFO Piotr Nielubowicz, Marcin Iwinski and Michal Kicinski. Together they own almost 34% of CDPR shares. The sharp drop in the value of securities had a corresponding effect on the fortunes of the founders of the Polish studio: according to Bloomberg, their total losses amounted to approximately $ 1 billion.
The publication also took a comment from BOS Bank SA analyst Tomasz Rodak about the situation with CD Projekt RED. The expert shared the following opinion: “Now there is a huge scar on the reputation of the studio and its management. In just a couple of days, CDPR went from being my favourite [gaming] company to be my most hated. It is possible to restore trust, but it will take a lot of time and effort. “
Financial experts, including Morgan Stanley and Barclays Plc, are confident that the multiplayer mode, which is already in development, will have a decisive influence on sales of Cyberpunk 2077 in the long term. True, now the studio has thrown its main forces to fix the single-player campaign.
