TechnologySaudi Arabia has acquired 5% of Nintendo

Saudi Arabia has acquired 5% of Nintendo

Saudi Arabia’s investments in the video game sector continue: after acquiring shares of Capcom, Nexon, EA, Activision and Take-Two, now the emirate owns 5.01 percent of Nintendo, thus becoming the fifth majority shareholder of the Kyoto company. The investment was estimated at $ 2.98 billion. The purchase was carried out by the Arab country’s Public Investment Fund, controlled by the controversial Prince Mohammed bin Salman. A Nintendo spokesperson told Bloomberg that he learned of the investment from the news and did not comment further. Saudi Arabia has invested heavily in Japanese video game signatures thanks to the weak yen, and recently also acquired almost all of the developer of King of Fighters, SNK. The emirate’s interest in new technologies has a lot to do with the economic transition underway in recent years, given that 70 per cent of the country’s exports come from oil and demand is set to decrease in the future. due to the changes in environmental sustainability that the world is implementing. In recent years, Mohammed bin Salman has also invested in Uber, Disney, Meta and Boeing. In 2021 he bought Newcastle United FC, an English Premier League team.