Saudi Arabia investments $3 Billion into Nintendo owning 5% of the company

Saudi Arabia now owns 5.01% of Nintendo, making it the company’s fifth-largest shareholder, according to a Bloomberg report. The Financial Times calculates the Saudi investment to be worth $2.98 billion. This is just the latest, most high-profile, and largest in a series of investments made by Saudi Arabia’s PIF in the video game industry. Earlier this year, it acquired 5% stakes in Capcom and Nexon. In late 2020, the PIF made a $3 billion investment in smaller stakes in American games publishing giants EA, Activision Blizzard, and Take-Two.