Thursday, December 8

Tag: Nexon

Gaming

Saudi Arabia’s Public Investment Fund Now Owns 5% Of Nintendo

Image: NintendoSaudi Arabia’s Public Investment Fund, a near-bottomless pit of cash tasked with diversifying the nation’s economy (and whitewashing their human rights record), has acquired a 5.01% stake in Nintendo.The news was announced in a filing made with Japan’s Finance Ministry, Bloomberg reports. It follows similar investments made last year in Capcom, EA, Take-Two and Activision, along with almost complete ownership of SNK. Bloomberg says this would make the Public Investment Fund the company’s “fifth-largest shareholder”. If this is the first time you’ve encountered this kind of money, know that the PIF fucking sucks, as does the man running it, Saudi Crown Prince Mohammed bin Salman. As Ian wrote just last month:Saudi Arabia spent the last year throwing money around the video gam...