Saudi wealth fund becomes biggest outside Nintendo investor
- Date: 17-Feb-2023
- Source: The Economist
- Sector:Financial Services
- Country:Saudi Arabia
Saudi wealth fund becomes biggest outside Nintendo investor
FILE - A traveler walks past an advertisement featuring a Nintendo character at Narita airport in Narita near Tokyo Friday, June 10, 2022. A Saudi sovereign wealth fund now holds 8.26% of the stock in the video game maker Nintendo, making it the largest outside investor in the Japanese gaming company, a company filing said Friday, Feb. 17, 2023. (AP Photo/Shuji Kajiyama, File)
DUBAI, United Arab Emirates (AP) — A Saudi sovereign wealth fund now holds 8.26% of the stock in the video game maker Nintendo, making it the largest outside investor in the Japanese gaming company, a company filing said Friday.
The investment comes as part of efforts by the kingdom's Public Investment Fund to diversify Saudi Arabia's economy away from oil, including billions already spent on video game firms. The fund has been a major component in the plans of Saudi Crown Prince Mohammed bin Salman, himself said to be an avid gamer.
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