Saudi Arabia Increases Its Stake in Nintendo - News
by William D'Angelo , posted on 12 January 2023 / 5,939 Views
Saudi Arabia's Public Investment Fund (PIF), a wealth fund chaired by crown prince Mohammed bin Salman, in May 2022 bought a 5.01 percent stake in Nintendo. A report from Reuters posted today revealed the fund has now increased its stake.
The fund now owns a 6.07 percent stake in Nintendo, which is up 1.06 percent, according to the report.
Saudi Arabia's PIF in its first investment in Nintendo made it the fifth largest shareholder in Nintendo.
The fund has also invested over $1 billion in Japanese video game publisher and developer Capcom and South Korean video game publisher Nexon. This investment ads up to a stake of more than five percent into both Capcom and Nexon.
Saudi Arabia's PIF in December 2020 acquired over $3 billion of stock in Activision Blizzard, Electronic Arts, and Take-Two Interactive, and in June 2022 bought a $1 billion stake in Embracer Group.
A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012 and taking over the hardware estimates in 2017. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel. You can contact the author on Twitter @TrunksWD.
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Sigh...
One of the sick jokes of this world is that so much of the world's petroleum is in the hands of some of the worst people living in it, mostly because of happy accidents of geography.
Probably largely funded by people not included among some of the worst people you mentioned. Doesn't really diminish your point of course, but it's a bit more complicated.
That point wasn't lost on me, either.
And they are using the money to corrupt and buy everything , its everywhere.
Since Saudi Arabia is committing a Genocide in Yemen ( with essential US support ) I now expect all those who condemn Russia for their war and support all its games involved sanctions....to now do the same for the far worse Saudi Arabia and infinitely worse US empire.
What's that ? Hypocritical silence.
Political concerns come to mind pretty quickly. Russia is a much more powerful actor that is much closer to many of the people that criticize Russia. It's bad to commit heinous acts far away, but when it happens closer to you is when you really get worried. Also, it's not like significant critique against Saudi Arabia hasn't surfaced in the West either, it's just that there's less of it.
Because of oil, a hyuk hyuk!!
You had me at tragedy in Yemen, but lost me at "infinitely worse US empire". And I am not an American.
The US has indeed supported some pretty terrible regimes under the "enemy of my enemy is my friend" logic, and they wear that. But the US is infinitely worse than Russia? As Russia bombs towns flat and Russian forces commit civilian atrocities including extensive rape and looting?
We can be, and should be, critical of the West. But for all the faults of the liberal democracies of the world, they're the best option we currently have to live under, not "infinitely worse" than an autocracy currently committing genocide in Ukraine. And yes, telling the Ukrainians that they're not a real people, while you bomb their schools and hospitals, and conscripts Ukrainians in occupied territories to fight and die against free Ukrainians, and abduct Ukrainian children to be raised by Russians, is absolutely an attempt at genocide.
None of this absolves Saudi Arabia, or the West, or anyone else, from what's going on in in Yemen. Or the civil war in Ethiopia, for that matter, that we seem to be largely paying lip service to. But it also doesn't make the West "infinitely worse", IMO.
Gross
Saudies own WWE, now they want Nintendo I guess?.
Dark times are ahead if Arabia/Tencent are allowed to gobble more shit up.
They might be purchasing the WWE wrestling as well.
Yeah, they reported a couple nights ago that the investment fund had purchased WWE before reporting the following morning that there was no deal with the Saudis. I also read stories about wrestlers threatening to walk if McMahon sold to the Saudis.
Then here's hoping they all walk, especially the female wrestlers. No decent human beings wants female wrestlers in a burqa.
Not everyone will walk because there isn’t anywhere else to go especially for the women, AEW won’t/can’t sign all of them.
Then hello burqas. -_-
Women have already wrestled in Saudi Arabia and had to wear full Bodysuits not Burqas still was very bizarre to see.
Still a civil rights violation courtesy of the cyst on the world's anus.
You have issues man.
I remember when they did I think Elimination Chamber. Rhea Ripley and Liv Morgan were wearing full body leather cat suits. If the idea was to prevent men from getting aroused, that was very counterproductive.
What great new, but not.
Good!! I hope they get more
In a different timeline, I think it would've been funny if they bought Activision and all the Call of Duty games were about them being the protagonist and Americans were always the villain lol
The fuck? I thought Japan was super protective of their companies. Especially Kyoto companies. Between this and Tencent acquiring interest in companies like From Software, i'm really not feeling comfortable in the future of gaming.
That's a few percent. They are protective over buyouts, not something that relatively small.
Also, it depends on the company. A small company like SNK they're not going to bat an eye over. A large company like Nintendo that's also a Japanese icon, they're going to be much more protective of, at least with regards to outright buyouts. A company that they feel is critical to Japanese economic and military security, like Sony.... the Japanese government is going to raise hell about it .
So Saudi Arabia owns shares in Activision /blizzard no wonder they were quick to ratify the deal.
Slowly but steady
lmao, I'm here just for the breakdown
And nothing we do can change this. -_-
Good investment though since Nintendo is very profitable. They should probably increase their shares further in both Nintendo and Capcom from a financial pov.
