Saudi Arabia Is Now Nintendo's Fifth-Largest Shareholder Following a $3 Billion USD Buy-In
Holding 5.01% of the Japanese company’s shares.
Saudi Arabia has just become Nintendo‘s fifth-largest shareholder. According to Bloomberg, a filing in Japan from the video game giant revealed that the Saudi Arabia Public Investment Fund has purchased a 5.01% stake in the company worth $2.98 billion USD, making the $500 billion USD fund Nintendo’s fifth-largest stakeholder.
The new investment comes following similar purchases throughout recent years. In 2020, the fund spent roughly the same amount to purchase smaller stakes in FIFA publisher Electronic Arts, Call of Duty and Diablo studio Activision Blizzard and Grand Theft Auto and Red Dead Redemption developer Take-Two Interactive while owning almost the entirety of Metal Slug and King of Fighters creator SNK. Earlier this year, Saudi Arabia also acquired 5% stakes in both Japan’s CAPCOM and South Korea’s Nexon.
A Nintendo spokesperson has refused to comment after Bloomberg‘s request.
Elsewhere in the gaming industry, Call of Duty: Warzone 2 will reportedly bring back classic Modern Warfare 2 maps.
