The Public Investment Fund (PIF) of Saudi Arabia has raised its stake in Nintendo, according to recent filings. The PIF, after investing in multiple other companies in the industry (including EA, Activision Blizzard, Take-Two, Nexon, Capcom, Koei Tecmo, SNK, and a $1 billion stake in Embracer Group) obtained a 5% stake in Nintendo last year, and now has raised the stake by about 1% (from 5.01% to 6.07%, technically).
Why is such a mundane bit of business notable? Mostly because the PIF is a massive source of international controversy. The fund is directly tied to the state and headed by the de facto leader of Saudi Arabia, Mohammed bin Salman. His reign has been marked by human rights violations in a state with a poor track record for equality, and he’s also been connected to the notorious 2018 assassination of dissident journalist Jamal Khashoggi. While a lot of international business has some amount of shadiness to it, this is a particularly notable case of state-backed power.
We’ll be sure to report on any other changes with the PIF’s stake in Nintendo going forward.
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