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As of January 2008 he is alive and well.
From wikipedia:
Miyamoto Shigeru(born November 16, 1952) is a Japanese video game designer. He is the creator of the Mario, Donkey Kong, The Legend of Zelda, Star Fox, Nintendogs, Wave Race, and Pikmin video game series for Nintendo game systems. He has also produced many titles published by Nintendo on behalf of other developers, including the successful F-Zero, and the Animal Crossing games.
http://en.wikipedia.org/wiki/Shigeru_Miyamoto
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