Saudi Arabia expands its stake in Nintendo and becomes its majority shareholder

Saudi Arabia expands its stake in Nintendo and becomes its majority shareholder

 According to some reports and informed sources, the Kingdom of Saudi Arabia has expanded its stake in Nintendo to become more than 6%.

In May of last year 2022, it was announced that the Kingdom's Public Investment Fund (PIF) managed to acquire 5.01% of the value of Nintendo shares. Today, this share has been raised to 6.07%. Thus, the Kingdom will have the largest share in the giant Japanese company.

This step comes within the framework of Crown Prince Mohammed bin Salman 's expansion of the Kingdom's role in investing in the video game market, as he made several previous investments in the same field.

In December of 2020, the fund acquired more than $3 billion worth of stock in Activision Blizzard, Electronic Arts, and Take-Two.

Last year, through an electronic game development company in the Kingdom, 96% of the famous Japanese development company SNK was acquired , which includes several development studios for famous titles, most notably Fatal Fury, Metal Slug and King of Fighters.

The matter did not stop here, as the Public Investment Fund acquired more than 5% of the shares of Capcom and the Korean publisher Nexon. The total value of these investments has reached more than 1 billion dollars.

It is noteworthy that Prince bin Salman has announced the launch of the Savvy Gaming Group investment group, which will include the allocation of 50 billion riyals (equivalent to 13.3 billion dollars) to acquire leading game publishers to become a strategic partner in development.

The continued development of the investment value of the Kingdom of Saudi Arabia in the video game market comes within the framework of expanding the investment market according to the vision set by Crown Prince Mohammed bin Salman, which is mixed with Vision 2030.

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