Why is Saudi Arabia buying Nintendo?

The investment comes as part of efforts by the kingdom's Public Investment Fund

Public Investment Fund

The Public Investment Fund (PIF; Arabic: صندوق الإستثمارات العامة) is the sovereign wealth fund of Saudi Arabia. It is among the largest sovereign wealth funds in the world with total estimated assets of US$620 billion (£514 billion).

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Public Investment Fund - Wikipedia

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.

Why is Saudi Arabia buying game companies?

The Saudi Arabian government is betting $38 billion on the country's potential to become the next hub for the video game industry. As part of its strategy to diversify its economy away from oil, Saudi Arabia, through its Public Investment Fund, wants to become a big player in the $184 billion global gaming market.

Does Saudi Arabia own part of Nintendo?

DUBAI, United Arab Emirates — 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 outfit, a company filing said Friday.

How much of Nintendo does Saudi Arabia own?

The financial scheme, founded by the country's highly-controversial ruling Prince Mohammed bin Salman, now owns 7.08 percent of Nintendo, up from 6.07 percent in January, Trading View revealed today (thanks, VGC). The PIF was previously known to have acquired a 5.01 percent stake in the company as of May 2021.

Why is Saudi Arabia investing in esports?

Crown Prince Mohammed bin Salman announced the Middle East nation's ambitious esports strategy last September. The National Gaming and Esports Strategy was created with the aim of establishing Saudi Arabia as a global gaming hub by 2030 in a bid to boost the economy.

The Truth About Saudi Arabia Buying 5% Of Nintendo

Which country invests the most in Saudi Arabia?

By countries, the main investors are the United States, Kuwait, France, Japan and the United Arab Emirates.

Who owns Saudi gamer?

Saudi Gamer was acquired by Webedia Arabia on Feb 11, 2021 .

Who owns 6% of Nintendo?

Saudi Arabia has increased its investment stake in Nintendo, buying up new shares. Saudi Arabia now owns 6.07% of Nintendo , after increasing its stake in the company via its Public Investment Fund (PIF).

Who owns the most Nintendo stock?

Saudi Arabia, through its Public Investment Fund (PIF), has become the biggest shareholder of Nintendo outside of the company's own stocks. The PIF purchased another bunch of Nintendo shares, boosting its ownership from 6% at the start of 2023 to a total of 8.3%, according to a report by Bloomberg.

Who owns most of Saudi oil?

The world's biggest oil company, which is 95%-owned by the Saudi Arabian government, declared a $19.5bn dividend after its fourth-quarter trading.

Why Nintendo is not in Turkey?

A few years back, Nintendo abruptly left the Turkish market due to the country's troubling financial situation, but a new distributor called CD Media is now in charge of Nintendo's dealings in the country.

What American companies are owned by Saudi Arabia?

Is Nintendo the richest company in Japan?

Currently, Nintendo is the tenth largest company in Japan and ranks #481 on the Forbes 2000 list.

Did Saudi Arabia buy Apple?

RIYADH, Saudi Arabia -- Prince Alwaleed Bin Talal Bin Abdulaziz Al Saud of Saudi Arabia revealed Wednesday that he has purchased more than 5% of Apple Computer Inc. for $115 million.

Is gaming allowed in Saudi Arabia?

Saudi Arabia. Most banned games can be found in many stores due to a lack of government enforcement of bans (often at a substantial price). However, not all major stores will stock banned titles. The Last of Us Part II is banned due to homosexual-related content.

Why did Nintendo stock drop so much?

Nintendo's American depositary shares dipped Tuesday after the Japanese videogame titan cut its expectations for Nintendo Switch hardware and software sales. It's the latest videogame firm to lower its expectations for the coming months.

How high will Nintendo stock go?

Stock Price Forecast

The 17 analysts offering 12-month price forecasts for Nintendo Co Ltd have a median target of 42.87, with a high estimate of 57.05 and a low estimate of 21.31. The median estimate represents a +328.68% increase from the last price of 10.00.

Which company is bigger Nintendo or Disney?

Valuation. As of this writing, Disney has a market cap of $164 billion and Nintendo has a market cap of $47 billion.

Who runs Nintendo USA?

Doug Spencer Bowser is an American businessman, currently serving as the president of Nintendo of America.

Does Nintendo fully own Kirby?

Kirby (Japanese: カービィ, Hepburn: Kābī, Japanese pronunciation: [kaːbiː]) is a fictional character and the main protagonist of the Kirby series of video games owned by Nintendo. He first appeared in Kirby's Dream Land (1992), a platform game for the Game Boy.

Will Disney own Nintendo?

Let me make it clear that Disney buying Nintendo will NEVER happen. A number of factors come into it including the fact that Disney has never developed video game consoles before. In fact, software development is the furthest they've gotten in terms of creating technology.

How much did Saudi pay for Twitter?

An insanely-rich Saudi-Arabian prince has made a $300 million investment in Twitter. Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud bought the micro-blogging company share via his company, Kingdom Holdings (HKG:0528). The price is chump-change for the prince, who's thought to be worth around $20 billion.

Which club bought by Saudi Arabia?

This is the second of three articles to mark the one-year anniversary of Newcastle United's controversial takeover by a Saudi-backed consortium.

Who owns McDonald Saudi?

Riyadh International Catering Corporation (RICC), a 100% Saudi-owned Company, launched the McDonald's brand in Saudi Arabia in 1993 and holds the McDonald's franchise in the central, eastern and northern regions of the Kingdom.