Saudi Arabia's sovereign wealth fund (PIF) recently acquired a 5.01% stake in Nintendo for about $3 billion, which will make it Nintendo's "fifth largest shareholder" According to Bloomberg, the news was announced by Nintendo in a document submitted to Japan's Ministry of finance. Last year, the foundation also made similar investments in kapukong, EA, take two and mobile TV, and also held a 96% stake in SNK.
Saudi Arabia's sovereign wealth fund (PIF), chaired by crown prince Mohammed bin Salman and with an investment fund of US $500 billion, has been increasing its stake in video game manufacturers and E-sports in the past two years. It began to acquire about 37.9 million shares of Activision Blizzard at the end of 2020. The purpose of the fund is to achieve economic transformation for Saudi Arabia with the goal of oil depletion in the future.
