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Saudi Arabia buys 5% stake in Nintendo


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LMAO how didn't this get posted.

 

https://www.polygon.com/23122317/nintendo-saudi-arabia-investment-crown-prince-pif

 

Saudi Arabia now owns 5.01% of Nintendo, making it the Kyoto company’s fifth-largest shareholder, according to a Bloomberg report. The Financial Times calculates the Saudi investment to be worth $2.98 billion.

The purchase was made by the Public Investment Fund, a sovereign wealth fund that makes investments on behalf of the kingdom. The PIF is controlled by Saudi Arabia’s controversial crown prince and effective ruler, Mohammed bin Salman.

A Nintendo spokesperson told Bloomberg that it had learned about the investment from news reports and would not comment further.

 

:hest: Maybe Nintendo can accept investment from Tencent next. 

 

 

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Nintendo is the next oil, confirmed.

 

LOL, they're a publicly traded company in Tokyo and Osaka exchanges, so yes somebody can buy a percentage ownership of the company without Nintendo's permission.

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