Saudi Arabia has doubled its investment in Electronic Arts Through the Public Investment Fund (PIF) which is managed by Crown Prince Mohammed bin Salman. from gamesindustry.biz They reported that this public investment fund recorded new stock purchases last quarter, from owning 16.01 million shares to owning 24.81 million shares in Electronic Arts.
This new purchase means that Saudi Arabia increased its share by 55% in Electronic Arts. The company responsible for games like FIFA 23 also Star Wars Jedi: Survivorto name a few of its most recent big launches, has a total of 274 million shares outstanding, which means that Saudi Arabia She currently owns 9% of the shares for this company.
Saudi Arabia and its millionaire investments
It should be remembered that the Saudi Public Investment Fund has invested huge amounts of money in the video game industry for some time. In fact, it really is Nintendo’s largest foreign shareholder After buying shares of the Japanese company Until reaching 8.26% of the total shares traded. Other video game companies in which he has invested money are Activision Blizzard, Embracer Group, and SNKof which it became the main shareholder.
With this fund, Crown Prince Mohammed bin Salman has also invested in Hollywood film industry And sports – they bought Newcastle United and entered Formula 1 or horse racing – which is also behind these superstars Ambitious urban projects such as The Linethe linear city they wanted to build in Saudi Arabia.
all this period Controversies keep emerging Across the country and Crown Prince Mohammed bin Salman himself, who is accused of the murders and torture of journalist Jamal Khashoggi in 2018, in addition to the ongoing human rights violations in the country. Actually, we recently learned that Saudi Arabia will ban the sale to Final Fantasy 16 Claiming to include LBTQ+ content that the game’s publisher refused to change.
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