After having invested in Capcom or Nexon, and having acquired SNK, the Saudi Arabian investment fund has become Nintendo’s 5th largest shareholder.
the Saudi Prince Mohammad bin Salman continues its expansion in the world of video games. Already an investor in Take Two and several gaming companies such as EA, Nexon, or more recently SNK, from which he acquired 96% of the shares, the new acquisition this time took place via the public investment fund of Saudi Arabia, owner of the Newcastle club among others.
The prince had already invested heavily in Capcom in the past by buying 5% of the company, now it is Nintendo who benefits from the petrodollars by selling there too 5% of the company’s shares to the royal fund.
On the side of the Japanese company, the transaction is estimated at 3 billion dollars and Saudi Arabia becomes the 5th largest shareholder. As a reminder, the Saudi PIF (that’s its name, yes) is chaired by the crown prince whose passion for video games is known. MBut above all, its goal is to make the country less dependent on oil by 2030 by diversifying its investments and trying to bring a more positive image of a very controversial kingdom.