Saudi Arabia reportedly increased its stake in Nintendo for a second time in the past month through the country’s Public Investment Fund, which is chaired by Crown Prince Mohammed bin Salman.
According to Trading View, the Saudi Arabia Public Investment Fund increased its stake in Nintendo from 6.07% to 7.08% this month. This is the third consecutive acquisition of stakes in Nintendo by the Public Investment Fund since May 2022. The Public Investment Fund initially acquired 5.01% of stakes in Nintendo before acquiring another 1.06% of stakes this past January.
The PIF made many notable investments in the gaming industry these past few years. In December 2020, the fund acquired over $3 billion worth of stock in leading western publishers like Activision Blizzard, Electronic Arts, and Take-Two. Most recently, the fund would take its interest into the Japanese and South Korean gaming industry.
In 2022, the prince acquired 96% of Japanese fighting and arcade game publisher/developer SNK through his Electronic Gaming Development Company. Further, PIF would invest in stakes of more than 5% in Capcom and NEXON that same year. The Capcom and NEXON investments totaled over $1 billion. As mentioned previously, the fund would acquire stakes in Nintendo that same year (Thanks, VGC).
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