Saudi Arabia buys back Nintendo shares: It is already the largest foreign shareholder
Barely a couple of days have passed since we found out that Saudi Arabia He had increased his investment in Nintendo and again the Public Investment Fund, an investment fund of Crown Prince Mohammed bin Salman, has acquired more shares in the video game company. He revealed on Wednesday that the public investment fund already owns 7.08% of Nintendo’s shares, and today the Associated Press reports that Saudi Arabia already has 8.26% of the company.
With this new acquisition, Saudi Arabia becomes Nintendo’s largest foreEsports Extrasshareholder, as the company itself has confirmed in a document registered today. This is not the first time that Crown Prince Mohammed bin Salman has bought Nintendo shares, but it does seem that each time he reduces the time that passes between one investment and another: the previous acquisition occurred last month, when the Public Investment Fund took over 6.03% of Nintendo. Until then, Saudi Arabia had 5.01% acquired in May of last year.
Saudi Arabia and its multiple millionaire investments
Crown Prince Mohammed bin Salman’s public investment fund is not an entity focused exclusively on the video game sector, but rather has also invested in the Hollywood film industry and sports -they bought the Newcastle United club and have set foot in Formula 1 or horse racing-, and she is also the one who is usually behind those peculiar and ambitious urban projects such as The Linethe linear city they wanted to build in Saudi Arabia.
However, it seems that the video game industry is particularly attracting his attention: Prince Mohammed bin Salman’s PIF has acquired powerful percentages of shares in companies such as SNK or Embracer Group, as well as Activision Blizzard. His strategy is to continue investing in the industry, as we learned in September of last year, although his movements are surrounded by controversy: Crown Prince Mohammed bin Salman himself is accused of the crimes of murder and torture of journalist Jamal Khashoggi in 2018, in addition to the constant human rights violations in the pass