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Cyberpunk 2077 Launch Issues Reportedly Cost Founders $1 Billion In Wealth

As CDPR's stock has tumbled following the release of Cyberpunk 2077, the founders' joint share has gone severely down in value as well.

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The technical issues surrounding the launch of Cyberpunk 2077 have had an impact on CD Projekt Red's stock value, and that in turn is reportedly hitting its founders' net worth. Bloomberg reports that the company's founders have cut the value of their joint stake by $1 billion in only a matter of days.

The joint 34% stake in the Polish company is co-owned by three executives--Marcin Iwinski, Adam Kicinski, and Piotr Nielubowicz--along with a fourth owner, Michal Kicinski. Those four have become the among the wealthiest Poles in recent years as anticipation grew for Cyberpunk. But as the stock has been dropping, so has their wealth. Their stake was reportedly worth about $3 billion on Tuesday.

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Perhaps more importantly, analysts say this launch has cost the studio significant credibility. Average analyst forecasts for 12-month sales dropped from 30 million copies before the release to 25.6 million copies now.

The PlayStation 4 and Xbox One versions appear to be one major cause of the stock and forecast drops. Those platforms are popular and widespread, and they're also significantly buggier and less graphically impressive than the PC, PS5, and Xbox Series X versions. Players seeking to avoid those versions, or holding out until they opt-in to the new generation, mean a smaller pool of potential consumers.

CD Projekt Red had issued an apology for the performance on last-gen systems, and recommended players who are dissatisfied seek refunds. But it also acknowledged that it had no special agreement for such refunds, and recently stopped recommending them on PlayStation.

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CyberEarth

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Don't care. If they wanted to keep their investment in their company, they should have produced a better product. That's what investing is - whether you are a shareholder, stakeholder, or owner. You have to create a product that people want, and a product that works. They got the part 1, but miffed badly on the part 2.

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Dragon_Irons

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hey genius, there ARE no PS5 or Xbox Series X versions yet... people are playing THIS gen's versions (or last gen, whatever...) on the new consoles...

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alvisj

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Cyberpunk runs great on Xbox One X and Series X, PS4 Pro and PS5. I don't get why people are so surprised to find out it doesn't run well on the base xbox or PS4, which are extremely old and were both underpowered even at launch. They're very old and very weak consoles. I think CDPR's only real mistake is launching the game on such old hardware at all.

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Dragon_Irons

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Edited By Dragon_Irons

@alvisj: any game made for the Pro versions have to work on the base consoles, also.... the PRO didnt' exist when they announced the game you twit.

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abdou

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@alvisj: "only" mistake?

CDPR intentionally prevented reviewers from having the PS4/X1 versions, basically hiding how broken these versions are before release

while the base PS4 and X1 are 7 years old consoles, they are more than capable of RUNNING a good looking game, there are plenty of great games on these old consoles that aren't broken. Nobody is saying Cyberpunk needed to be 60FPS or have amazing graphics, we just wanted a playable non-broken game. NO excuses for the many glitches and crashes, this isn't due to the console's age, it's because CDPR didn't spend enough time on these versions...

which leads us to the last issue, they forced the developer's into doing crunch and overtime and STILL managed to release a broken game. This a huge mess, not "one mistake"

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MaccMosley

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I would hate to see this company get completely shut down by this but thet At least deserve a good ass kicking. They knew exactly what they were doing,I dont understand how they didnt see this coming, whos bright idea was it to do this? They thought people would just becool with being flat out lied to and robbed? I requested my refundfrom Sony this morning,I refuse to trust theyll make itright andifthey do Ill buy the game at a huge discount when they do in 6 months.

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CyberEarth

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@maccmosley: Maybe they should just scale back and learn to release stable products first rather than taking on super expansive and ambitious projects.

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AlienMinator

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I don't want to see the company suffer too much because of this but they do have a lot of explaining to do to their client base, they offered the earth yet only deliver, lets say Canada [no dig at Canada intended] A lot of what they showed has been cut from the game and the buggy/glitchy nature of the game is horrendous, it makes Fallout 76 look positively gleaming [i really hate F76].

What i can't understand is the apologists who are defending such a shoddy game/release, people spend their hard earned money to play the game once they get it, not 1 or 2 months down the line and anyone who thinks that is acceptable is someone i can not or will ever, understand.

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Bamda

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This is not a big deal, rich people hardly ever go homeless. Now fix the damn bugs in Cyberpunk 2077! LOL

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Cherub1000

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Good! Hope it costs them, so sick of devs lying thier butts off trying to rinse our wallets dry! Really keen on this title for a long time, after the issues surrounding its release, I'll never give CDPR a penny.

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deactivated-6051cfb0d2384

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Well then don’t rush release trash that isn’t finished then. hope they learn their lesson . I doubt it though these greedy people never learn like blizzard

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Bamda

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@gmale: That is funny, most people were whining about them delaying the game. I never cared enough to worry about it one way or another.

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WarGameJunkie

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Hope they lose everything. CDPR clearly lied about the course of the development of this game for the past seven years and have told more half baked lies since its release. The claim they spent too much time on the next generation version? That's absolutely hilarious. Dev kits for the Series X and PS5 didn't exist until mid to late 2018.

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Hsnberg

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@WarGameJunkie: Try 8 1/2 years.

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TeslaCoi1

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I must be missing something. Why are people so unforgiving of a game company making a mistake? This is the company that brought us The Witcher, correct? I've never had them pegged as someone who only cares about profit, and not about their consumers. The bugs in the game can surely be patched eventually anyway, right? Just play something else in the meantime. I hate asshole game companies like EA as much as the next one, but I've never gotten the impression CD Project Red is anything like them.

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Bamda

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@TeslaCoi1: Bruh, this is the internet. Its the Herd mentality at work. Its what allows people to vent, its what people love to do, They are always looking for something new to hate on. I am not excusing them releasing Cyberpunk 2077 in the state its in but its just a game. Get a refund and go find something else to go play. Those fools all seem to forget that people are dying from a virus. That is life, this is a game. For me, even in its current state I am loving the game. This is a game I have always wanted to play. And after all the bugs are fixed this will be an excellent game. Peace!

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WarGameJunkie

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Edited By WarGameJunkie

@TeslaCoi1: In addition to what JustTheTip wrote, CDPR released the trailer for this game in January 2013. It's been in various stages of development for seven years. It's not a next gen game, it was intended for the XB1/PS4.

A day or two ago they claimed that they didn't "spend enough time" on the XB1/PS4 versions because they were focused on the "next gen" versions (which haven't been released yet.) It's unlikely they got specs for the Series X/PS5 much before mid 2018, so just what have they been doing? It's rather mind boggling actually.

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TeslaCoi1

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@WarGameJunkie: Good point. That is indeed pretty crazy.

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deactivated-611611d19b9ca

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@TeslaCoi1: You’re missing the part where they deliberately misled people on what they were getting. CD Projekt Red actually admitted that they didn’t show any console footage of the game, because they knew it was buggy. It was all PC footage. This is very much a case of false advertisement. More people were always going to play on console, compared to PC. That is why people are mad and want the company to lose money. You’re right that bugs can be patched. That’s not entirely the issue here. It’s also insane that this game was delayed over and over and still ended up being one of the buggiest games I’ve ever played. CD Projekt Red definitely lost some credibility with this one. In this case, they absolutely were a company who only cared about profit, not the consumers.

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TeslaCoi1

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Edited By TeslaCoi1

@justthetip: Hmm, I see. Point taken. Makes me kind of sad really, when even the few good game companies that are left squander their integrity...In an industry where these days small developer companies keep getting bought up by big, cynical companies, only to be hung out to dry, there are few beams of light left...I thought CDPR was one of them...Maybe they were, but turned to the dark side along the way...Valve is nothing like they used to be for me either...I guess Santa Monica Studio is my only remaining hope...Sigh...I miss the good old golden days of the original incarnations of Rare, Westwood, Crystal Dynamics etc...

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deactivated-6085a0bd46474

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@TeslaCoi1: Why, they ruined God of War (I keep getting bashed for this opinion but I stand by it). I had to force myself to finish the game because I wanted to see the end of the story. I tried replaying it telling myself that maybe I missed something but no, the game just plain sucks. The combat is boring as hell, the map is crap there are many areas you don't even see (not cool for a completionist), the talking head just rambling on for hours on end is unbearable I don't understand how Kratos didn't just throw it in the water, since he's such an unstable impatient angry guy to start with.

I didn't like the skills or the skill tree (except leveling Boy's abilities), the gear system wasn't fun. No system was implemented in a way that felt satisfying.

I platinumed every single god of war game, be it psp or whatever. I platinumed GoW 3 on three separate accounts because I liked it so much. This one I didn't, I was just so relieved when the game ended. But then again, the pillar of light scene was fantastic and the ending was surprisingly emotional, which I really didn't expect

Apart from the graphics and those two scenes, I really really don't see what you guys like about this reboot.

Also, if you click on user reviews on metacritic, it's getting nothing but hate. So idk why everyone of Gspot is praising it.

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TeslaCoi1

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@Keaze_: Well, that's your opinion, I'm not going to go into and discuss individual aspects of the game, because we're clearly too far apart. It'll just be a waste of time. I've platinumed every God of War game ever made as well, and to me the new one is 10 times better than the others. I've replayed it 5 times because of how much I love it. Also, it has an average of 9.2 among users on Metacritic (and an average of 94/100 from critics), so not sure what you're talking about there.

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xantufrog

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Edited By xantufrog  Moderator

I will say this - CDPR really earned this slap with the way they managed the whole thing.

That being said, I'm playing it on PC and loving it - it's not particularly buggy at all for me, yet, it runs ok (RTX 2070 Super), and is absolutely gorgeous (never seen an open world quite like this visually or structurally). It's a real looker with all RT on Ultra.

Most importantly - it's fun. Really fun. Good characters and just about everything I wanted in terms of flexibility. Already fantasizing about a second playthrough and how I'll do things differently and spec out a different character build.

So - all that being said: I'm with y'all in that CDPR betrayed gamers' trusts and is really getting what they deserve, BUT I also definitely encourage anyone with a capable machine who was really interested in this game to give it a go - the major issues are really a base last-gen console problem, and it's pretty much exactly what it was promised to be, on PC (I do have plenty of things they could improve, but that's for a different essay). So if you thought it was going to be your jam - you're probably right.

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Bamda

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Edited By Bamda

@xantufrog: I was going to build a new PC system with the newly released tech (AMD Ryzen 9 5900X and NVIDIA RTX 3080). Well my plans have been seriously delayed due to the insane amount of demand. So I purchased the game and I am playing it on my trusty Intel Core i7-2600K with a NVIDIA GeForce GTX 1080 Ti. I am able to get about 35 to 55 FPS on Ultra at 1440p. Outside of a few crashes (Due to the recent Nvidia drivers (460.89), rolled backed to the previous drivers), and a few minor bugs the game is amazing. I am glad I was able to enjoy the game. I feel for those gamers that are still struggling to get the game functioning somewhat decently.

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Jenkyl

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Hope they lose a lot more. They sold a game worth .10 in plastic for 80 dollars that has no use but to be recycled. Playstation will never get another dollar of my money. And I will go out of my way to avoid this garbage company as well.

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Pierce_Sparrow

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I remember when everyone hate No Man's Sky as much as they hate this game now (CP2077 maybe less) and now it's popular and highly regarded. CDPR screwed up. No one can deny that fact, but they screwed up a good game. The world building is amazing. I fully expect them to recover. Certainly people will be cautious. And I'd like to think that CDPR will have learned their lesson. I consider myself lucky, I suppose, since I actually get to enjoy CP. I want to see CDPR recover from this because they make quality games and I'd like to see them continue to do so.

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Bamda

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@Pierce_Sparrow: Exactly my thinking. But to all the haters that just want to destroy, there is no room for forgiveness. They are just full of hate, must be the rough year that 2020 has been on us all. CD Projekt RED is a company run by human beings. They made a big mistake with the release of the game in its current state but I have faith in CD Projekt RED. Just like Hello Games corrected their mistakes with No Man's Sky, so will CD Projekt RED with Cyberpunk 2077.

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Cherub1000

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@Pierce_Sparrow: dont worry, I got nms on release and I still hate it with a passion!

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RSM-HQ

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@Pierce_Sparrow: I remember when everyone hated Anthem because it was an unfinished mess. . .

Oh wait, they still do. And still terrible.

No Man's Sky wasn't an unplayable piece of ****. It was missing features and bare. The developer had a working game, just barely a game worth mentioning.

Worth noting CDPR never really did fix all the issues plaguing The Witcher III, but was never as bad as launch Cyberpunk 2077 is. Cyberpunk has the Fall Out 76 issue, the Anthem issue. It's just a mess. And the developer has never proven to fix bugs in this quantity.

Glad you can still find merits in the game. But this is not the same as NMS, not even close.

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Pierce_Sparrow

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@RSM-HQ: I beg to differ. Both developers made promises they didn't keep. The difference is that, despite being a fully functioning game, NMS was boring and it took two years for it to be interesting. You can patch bugs, you can't patch boring. cP at least works on PC and it's a fantastic game with some of the best world building I've ever seen in a game. It's world is fully realized and nearly every facet of it you could want to learn about is explored. Even on just a technical level, it's very well done. The game will get fixed and the anger will die down because that's what ALWAYS happens. I'll take a game that is as well designed as CP, even with it being broken, over some functioning but dull any day.

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RSM-HQ

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Edited By RSM-HQ

@Pierce_Sparrow: "You can patch bugs, you can't patch boring" I mean, they can and did. . . it's 2020, not 1998. As a P.C. gamer you should be familiar with early access, and mods too.

On the whole 'if they play on P.C. they'll have a fantastic game' Good maybe, fantastic. . Questionable. Even if we ignore Gamespots let call it less than creditable review; Destrctoid and Easy Allies also reviewed Cyberpunk 2077 (on top of the line P.C.s) giving it 7's.

Again, it is awesome you really like the game, seems like it's hitting a lot of the same highs The Witcher III did. Presentation and a great OST. Also comes with its flaws of so-so gameplay and even worse bugs, that may never be fully resolved. Which stinks for how hyped this game was.

Cyberpunk seems like a game that you really have to dive in deep to find its great qualities, otherwise has a lot of baggage.

"The game will get fixed and the anger will die down because that's what ALWAYS happens."

Insert your WarCraft III: Reforged, Mass Effect: Andromeda, Metal Gear: Survive, Mighty No.9, SimCity (2013) here.

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Pierce_Sparrow

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@RSM-HQ: @RSM-HQ: Early Access and mods aren't patches, they're additions to change the fundamentals of a game. NMS is a fundamentally different game than when it was originally released. Fixing bugs and parts of a game are different from changing pieces of a game that simply do not work or are not interesting.

All those games you mention were mediocre upon release, not simply broken. They were dull and poorly developed and/or designed. Objectively speaking, CP's design is fantastic. It does what developers seem to choose not to do much of these days: it fully develops it's world. You only have to play through the game's missions to get a sense of that. It's not simply that I enjoy the game, it's that, save for what in the game is broken, it's purely a well.made game. World, characters, dialogue, story and yes, even the gameplay, are just well designed and made, if they're not all functional.

But I'll put it this way, I've had Valhalla and Immortals waiting to be played but haven't touched them yet and probably won't for a while because I'm nowhere near finishing CP, even at 40 hours.

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RSM-HQ

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@Pierce_Sparrow: I mean my original point was CDPR have never been proven to actually "fix" the games they make. Because they've never launched like this game before.

Based on your ending statement; just seems you value open world games more fondly. Seems to be your preference?

Never read anyone think Warcraft III as "mediocre" till now, one of the most well regarded P.C. games ever made. Interesting. While I'll agree Reforged came out a train-wreck, did so in the same manner as CP2077. It requires bug fixes, more than even Blizzard is bothering to do.

Overall we'll have to agree to disagree dood. But the important part is you are finding fun in CP2077.

Enjoy your games. And have a great winter. peace

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deactivated-611611d19b9ca

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Good. They deserve to take a hit. CD Projekt Red is dead to me. They knowingly released a completely broken game. I don’t think I’ve ever played a game with so many game-breaking bugs, and just all around annoying little issues like the GPS freaking out, or the mini map not loading. This game seems to develop new glitches as it goes on, too. This is more buggy than an Elder Scrolls game, which is crazy to say. I can’t even list all of the things that have gone wrong for me, so far. This game will be $30 in less than a month.

Also, for those saying they don’t understand why people are happy the company is losing money, it’s because the company completely misled everyone by admitting they only showed game footage from the PC build. This was a case of false advertising. The key market for this, as with every multi-platform game, is consoles. Yet, they focused almost entirely on making the PC version work, while not giving a crap about the console version. That is why people justifiably are happy that CD Projekt Red is taking a deserved hit.

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Rising333

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@justthetip: word

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so_hai

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They're lucky to get away with that.

If this was a Japanese developer, there'd be public shamings.

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NeverMore0

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Owners have $3 billion. Make consumers shell out for a buggy unfinished game. Just another day in the corporate world.

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Slannmage

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They should have just released PC and Stadia only, would have been less of an issue if they pushed back the console versions.

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WarGameJunkie

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@Slannmage: They started development of the console versions of this game seven years ago. Just how long does CDPR need to develop a game? Their claim they spent "too much time" on the next generation versions doesn't make any sense. They couldn't have gotten information from Microsoft and Sony on specs for the Series X and PS5 prior to mid/late 2018.

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Itstheel

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@Slannmage: dude! Or, um, woman! I'm not saying Stadia is good. I'm just saying I want it for Cyberpunk!

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Slannmage

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@itstheel said:

@Slannmage: dude! Or, um, woman! I'm not saying Stadia is good. I'm just saying I want it for Cyberpunk!

How dare you assume my gender, report.... lol.

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so_hai

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@Slannmage: Greed.

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lonesamurai00

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@Slannmage: That's kinda what I was thinking...

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GalvatronType_R

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This article makes me chuckle at the irony. Both the bean counters and the developers rushed this game out for financial benefit but it backfired and CDPR has taken a huge hit to its valuation.

But they will make it back in a matter of months. It's how the markets work, peaks and valleys all the time.

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WarGameJunkie

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@GalvatronType_R: CDPR started development on this game for the PS4 and XBox 1 seven years ago. They didn't rush anything out for financial benefit. They released one of the most bug ridden messes in video game history. Then they've proceeded to lie about it even more than they did over the past seven years. The claim they spent too much time on the next generation version? That's hilarious. At best, they received information on specs on the Series X and PS5 in mid/late 2018.

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GalvatronType_R

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@WarGameJunkie: CDPR admitted during a board meeting (but not publicly because like most corporations, they only care about their board members and investors) that they rushed the game out before it was ready. Their main focus was to release after three delays. Fat bonuses for management and developers are tied to sales figures and Metacritic scores and that is why they were so anxious to release and strictly embargo reviews.

“After 3 delays, we as the Management Board were too focused on releasing the game. We underestimated the scale and complexity of the issues, we ignored the signals about the need for additional time to refine the game on the base last-gen consoles. It was the wrong approach and against our business philosophy.”

https://www.ign.com/articles/the-messy-messaging-behind-cyberpunk-2077s-messy-launch

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al89lan

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Why are people happy about this company losing money, and taking a big hit? We're all game lovers here, and we want the industry to flourish. I don't get all the happiness towards failure.

I hope they can turn this around, release some solid patches and keep releasing awesome games for us to play. (Buying it is optional remember)

This poor PS4/Xbox game play should serve as a reminder to NOT PRE-ORDER games. There's very little incentive to pre-order games - maybe you get a PS skin, or an avatar? Who cares.

I'm glad I waited, and will pick it up when it's looking in better condition.

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deactivated-611611d19b9ca

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@al89lan: People are happy, because they knowingly released a defective product and conned people into buying it. They said they purposely didn’t show any console footage, because they knew it was buggy. This company deserves to take a hit for that. If I sell you a box of shit and tell you there’s candy in there, you would be justified to kick my ass. Sure, that’s not the greatest analogy, but hopefully you see my point. If it was just that they hadn’t come across these issues during testing, then I could forgive them. It’s the fact that they knew exactly what they were selling.

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Vojtass

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@Steve Watts

It's CD Projekt Group, who is listed on Warsaw Stock Exchange, not CD Projekt RED. Developer is just a subsidiary just like GOG.com.

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Millionsedge

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You know they knew it was buggy. Must have been a calculated risk to release in a rough state. They must have projected the stock would be hit harder by another delay vs a rough release.

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