According to a new report, Saudi Arabia has now increased its stake in Nintendo again.
Website Trading View revealed that Saudi Arabia’s Public Investment Fund (PIF) has now reportedly increased its stake in Nintendo to 7.08 percent. PIF is a wealth fund chaired by the famous crown prince Mohammed bin Salman.
Last May 2022, PIF invested 5.01 percent stake in Nintendo and just last month, it increased the stake to 6.07 percent. Now, another increase in just a month span.
Previous reports said Nintendo did not know of the PIF buying its initial 5.01 percent stake in the company. Its leaders actually learned about the deal from various news reports. The company has not released any statements in regard to the current increase in investment.
Saudi Arabia’s crown prince and the PIF have made investments in various game companies in recent years. One of the biggest investments they have made was acquiring stock in Activision Blizzard, EA, and Take-Two which totaled over $3 billion worth of stock.