REPORT: Toyoda family stock shares take $449M hit
The Toyoda family has felt the pinch of the global automotive crash in the worst possible place: their wallets. Toyota share prices have plummeted by a very substantial 46% in the past nine months, costing the Toyoda family hundreds of millions of dollars. Soon-to-be company president Akio Toyoda's 4.6 million Toyota shares has dropped $145 million; a fantastic decline, but less than half of his father's loss. Former company president and honorary chairman Shoichiro Toyoda has lost $304 million during the past nine months – enough money to buy over 10,000 loaded Camrys. The Toyodas have a great deal of stock in the company Kiichiro Toyoda founded, yet the family only owns 0.8% off all shares. And while the Toyodas have lost quite a bit of stock value, the company scions aren't likely to sell off their shares. That means the family probably won't lose much real wealth in the long term, though a potential dividend cut could still cost the Toyoda's millions. Bloomberg expects Akio and Shoichiro to lose about $20 million in 2009 dividend payments, or enough money to make even the wealthiest automotive scions really, really sad.
[Source: Bloomberg]
Reader Comments (Page 1 of 1)
Mr.Oak 8:31AM (3/25/2009)
Ouch.
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AntBee 8:32AM (3/25/2009)
Aww, boo hoo hoo... my ass bleeds for them.
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BigWill 9:05AM (3/25/2009)
"my ass bleeds for them"
As a sign of high gratitude for your concern, the Toyoda family will be sending you a case of Preparation H..
ugg.tryptophan 9:33AM (3/25/2009)
you should get that checked out
Shamdiddly 8:45AM (3/25/2009)
This wouldn't have happened if they would have built relevant cars that people wanted to buy.
o.O
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tekd 9:20AM (3/25/2009)
Yeah this was funny the first time someone posted it and forgot that the Big 3 managed to lose money when the economy was booming and everyone had home equity lines of credit to go buy cars with.
Insinuating that GM's troubles are only because of the same situation dragging down Toyota is pretty ridiculous when the Toyoda family's 0.8% share of Toyota can now buy 25% of GM.
And last time I checked, losing 2 billion in one quarter during the worst economic conditions in 70 years is still pretty different than losing:
$10.6 billion in 2005
$2 billion in 2006
$38.7 billion in 2007
$30.9 billion in 2008
Last I checked, losing $122 billion is quite a bit worse than losing $2 billion. So when Toyota has pissed away another $120 billion and isn't the largest automaker in the world anymore maybe there'll be a point about needing to build relevant cars.
Out of curiosity, when you do figure GM will be able to make back that $122 billion it's lost? Even assuming that they survive it'll be decades before they balance out their losses with earnings.
Shamdiddly 10:46AM (3/25/2009)
You sound very upset, I'd recommend you go back out to your Prius and touch yourself to how awesome Toyota is.
Obviously, you missed the poke at our government that claimed GM needed to make relevant cars that people wanted to buy; even as GM sells the most vehicles in America.
Terry 10:51AM (3/25/2009)
Shamdiddly is a complete moron.
And why the hell are they reporting this? How is this news? 95% of companies out there have lost quite a bit in recent times.
Shamdiddly 11:04AM (3/25/2009)
Terry, you sound like a Toyota fanboi.
And regarding the idiot comment, I'd prefer "educationally challenged" please.
BigTeebo 9:05AM (3/25/2009)
That was one very pricey Jedi master doll!(kudos if you remember the Toy Yoda scam from years ago).
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BoneHeadOtto 9:34AM (3/25/2009)
How is this news?? They tracked exactly with the broader market
http://tinyurl.com/SPYvsTM
Everyone (on average) is down 45% in the last 9 months
perhaps the bigger story is that GM is down 85% in the same time period!!!!!!!
http://tinyurl.com/TMvsGM
Ford isnt doing any better - down 50%
http://tinyurl.com/TMvsF
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wayne 9:49AM (3/25/2009)
I cannot wait for that new Mustang!
Oh wait, this has nothing to with anything here...
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Erik 10:19AM (3/25/2009)
Yea, I have a real hard time feeling sorry for them
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Len_A 11:54AM (3/25/2009)
Same here. Screw 'em. They could lose more, and all I would do is laugh at 'em.
harlanx6 4:14PM (3/25/2009)
It didn't exactly put them in the soup line.
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Christopher 1:27AM (3/26/2009)
a couple billionaires lost 400 million between them, my heart truly feels for them.
maybe i'll go buy a camry or a pious, er i mean, prius. oooh just thinking about that cloud of smug resulting from my belief that i'm better is making me hapy
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Jim 8:03AM (3/26/2009)
Should we shed some tears for poor Toyota?
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