Saudi Arabia increases stake in Nintendo to 7.08%
Reports have emerged that Saudi Arabia has once again increased its stake in Nintendo.
Saudi Arabia-based Twitter account BRHM reported today the nation's Public Investment Fund now owns 7.08% of the Mario maker, with Trading View reporting the same figure.
The Fund previously took a 5.01% stake in Nintendo back in May 2022, and increased this to 6.07% just last month.
Saudi Arabia has been investing heavily in the games space over the past couple of years, with the PIF's subsidiary Savvy Games Group buying a $1 billion stake in Embracer Group and reportedly setting aside $13 billion to acquire a major publisher.
The PIF has also taken stakes in Capcom and Nexon, while the crown prince of Saudi Arabia's Electronic Gaming Development Company – a wholly-owned subsidiary of the Mohammed bin Salman Foundation – owns 96% of SNK.
These investments have sparked controversy, as Saudia Arabia is known to have a poor human rights record -- declaring homosexuality to be a crime, for example, and one punishable by everything from flogging to execution.
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