Wednesday, November 29, 2023
HomeTechnologySaudi wealth fund becomes largest outside investor in Nintendo

Saudi wealth fund becomes largest outside investor in Nintendo

[ad_1]

A Saudi sovereign wealth fund has become the largest outside shareholder in the Japanese gaming giant Nintendo.

The Saudi Public Investment Fund, a state investment vehicle chaired by Saudi Crown Prince Mohammed bin Salman, has increased an earlier stake in Nintendo from 7.08 percent to 8.26 percent, a Japanese regulatory filing shows.

The move is another sign that the nation is seeking to expand and diversify its financial reach beyond oil, the principal source of its wealth.

In recent years, the fund has poured money into a dizzying array of business interests outside the petroleum trade, including taking large stakes in American companies, among them Boeing, Citigroup, Disney and Uber, financial filings show. The investments stem from a broader plan touted by Mohammed, whose “Vision 2030” plan seeks to lessen the kingdom’s dependence on oil.

Several of those investments have gone to video game companies. The Saudi fund owns a gaming company, Savvy Games Group, that plans to invest $37.8 billion with hopes of making the kingdom a global gaming hub, according to a September 2022 announcement from the Saudi state news agency SPA. Saudi Arabia has bought stock in leading American game-makers Activision Blizzard and EA Games, financial filings show.

Cate Brown contributed to this report.

[ad_2]

Source link

See also  Elon Musk’s SpaceX says it didn't intend Starlink to be used for war
James Thomas
James Thomashttps://businessadvise.org
Hello, I am James Thomas blogger and content creator who specializes in personal finance and investing at Business Advise. I have been writing for over 5 years and have built a large following of readers who value practical advice and actionable tips. I'm committed to helping people take control of their financial futures and achieve their goals.

Most Popular

asia788dewata88Asia788 Maxwinasia788asia788DEWATA88dewata88linetogeltogelupprotogeltogelonjon4dbri4dwinstar4dneon4dangsa4ddesa4dklik4dcici4dkuy4dbni4dkenangan4doyo4dmiya4dasia788asia788kita99dewata88dewata88dewata88dewata88dewata88dewata88dewata88dewata88dewata88dewata88dewata88dewata88dewata88dewata88key4ddragon4dpalu4dzara4dollo4dvisa4ddipo4dbingo4dambon4drasa4dwasiat4dneng4dpragmatic4dmenara4dgaruda4ddaya4dtata4daksara4dprada4dkingdom4droma4ddangdut4dtarget4darta4dvava4dyes4dtag4dloyal4dpola4dbajaj4dsisil4dpermen4dsenopati4dpapua4dpascol4dvenus4deropa4dkuat4dpedia4dks4dkekar4dlampung4dacong4dfantastic4dsega4doplet4dsuara4dpaitohk4dangkanet4dbetwin4datm4dlebah4dlima4dlipat4dibu4dtoto4dbarong4datas4diron4dbandit4dsemangat4dhut4dkoibet4dkebaya4daha4dmentos4dyolo4deak4dkelas4dtotal4dmamen4dvia4dhigh4djanda4ddewata88gacor7777asia788virgoBotuna4DBotuna4Dasia788asia788kita99kita99kita99asia788kita99Botuna4Dkita99kita99spaceman Virgobet88VIRGOBET88LOTRE4DASIA788ziptogelkita99virgobet88kita99kita99murah4dbukti4ddhx4dtante4dsbclive4dcalon4dmaya4dmedan4dstadium4dsekar4dtunas4dkumbang4dto4dtebar4dbocah4dneko4daxiata4dbibit4dkebaya 4doplet4dtoto 4dmaria togelbentengtogeltogel ccpt togelasiatogel88master togeldultogelindotogelzia togelspace togeldota togelkepri togeljeboltogeldagotogelpartaitogelpintu togeltoto88bola88kaisar888idcash88usaha188matahari88royal188garuda888mega288grandbet88prada188cocol88taktik88ovo88playbook88indolottery88tambang888lumbung88wayang88ugbet88oyo88gelora188ligaplay88sarang188probet88davo88mevius88gacor88nusantara88area188untung88v88totoorion88shio88subur88cipit88jago88soju88masterslot88dota88menangbet88pandora188megaslot88ajudan88sikat88situstogel88happybet188betwin188glowin88topslot88betslot88lineslot88olb88juragan88jingga88cukong88dewagame88visa288beton888ingatbola88liga788berlian888qq88asia988betdoremi88nona88bejo88spinhoki88cuan88kingbet188rajatoto88fixbet88suhu88mainslot88wslot888bintangbet88bintang88halo88planet88jpslot88gading88poka88arya88batara88bso88petir388autospin88ole388ciputra88tektok77kita99kita99kita99kita99kita99kita99kita99kita99kita99kita99kita99kita99tektok77virgobet88kita99virgobet88dewataslot88dewata888dewa888wukong138wukong138dewaslot88wukong138balislotkapalslotKAPALSLOTkapalslotkapalslottigerslot4dVirgobet88pohon4dpohon4dpohon4dpohon4dAsia788Asia788Asia788kikislotkikislotkikislotkikislotSLOTUP88slotup88slotup88slotup88asia788bigo4ddewata88bigo4dbigo4dbigo4dasia788asia788dewata88dewata88dewata88dewata88dewata88dewata88dewata88dewata88dewata88dewata88danaslot77game slot maxwin