As reported and confirmed by Trading View, Public Investment Fund increased its stake in Nintendo from 6.07% to 7.08%. Saudi Arabia’s Public Investment Fund’s interest in Nintendo has been growing rapidly since last year.
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In May 2022, Public Investment Fund acquired a 5.01% stake in Nintendo and last month increased its stake to 6.07%. The Public Investment Fund (PIF) is the sovereign wealth fund of Saudi Arabia. It is among the largest sovereign wealth funds in the world, with total estimated assets of $620 billion. It was created in 1971 to invest funds on behalf of the government of Saudi Arabia. Crown Prince Mohammed bin Salman has controlled the wealth fund since 2015.
The Public Investment Fund has been investing heavily in the video game industry for quite some time. As reported by Nine66, game studios in Saudi Arabia have almost doubled in 2022. In June 2022, Public Investment Fund announced it had purchased $1 billion worth of shares from Embracer Group, representing approximately 8.1% of total shares.
Saudi Arabia has bought over 3 billion shares from many companies, such as SNK, Activision Blizzard, Electronic Arts, and Take-Two. PIF aims to profit from these investments with Microsoft’s acquisition of Activision Blizzard, which have been approved by the country last year.
