Daily news, dev blogs, and stories from Game Developer straight to your inbox
The state-backed investment fund also holds stakes in Nintendo, Capcom, Take-Two, and more.
May 16, 2023
1 Min Read
Saudi Arabia has increased its stake in EA and now owns almost 25 million shares in the U.S. publisher.
As reported by Seeking Alpha, the Saudi state-backed Public Investment Fund (PIF) disclosed the move in a recent P13 filing for the quarter ended March 31, 2023.
EA's latest fiscal results showed it currently has 274 million shares outstanding, meaning PIF now holds a 9.4 percent stake in the company.
PIF's increased stake in EA
It's only been a few months since PIF increased its stake in EA to 5.8 percent from 5.1 percent, so it seems the organization hasn't lost its appetite for game-related investments.
PIF is chaired by Saudi Arabia's deputy prime minister and crown prince Mohammed bin Salman Al-Saud, who has been accused of allowing human rights activists to be tortured and faced allegations over potential links to the murder of Washington Post journalist Jamal Khashoggi.
The investment fund has made a habit of sinking cash into major game companies, and earlier this year purchased more shares in Nintendo to increase its stake in the Japanese company to 7.08 percent.
It also holds stakes in Grand Theft Auto maker Take-Two, Resident Evil and Street Fighter developer Capcom, Swedish video game conglomerate Embracer Group, and more.
You May Also Like
Exploring the 2024 State of the Game Industry report - Game Developer Podcast ep. 39Feb 2, 2024
Phantom inspiration and the ethical auteur with Xalavier Nelson Jr.Dec 8, 2023
Designing Killer Queen: from playground experiment to modern arcade sensationOct 18, 2023
Rod Humble and King Choi illustrate the ambition of Life By YouSep 22, 2023
Get daily news, dev blogs, and stories from Game Developer straight to your inbox
Subscribe to Game Developer Newsletters to stay caught up with the latest news, design insights, marketing tips, and more