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PIF, the investment fund chaired by Saudi crown prince Mohammed bin Salman Al-Saud, has sunk more cash into the Switch maker.

Chris Kerr, News Editor

January 12, 2023

1 Min Read
A Nintendo office

Saudi Arabia's state-backed Public Investment Fund (PIF) has upped its stake in Nintendo to 6 percent.

That's according to a filing spotted by Reuters, which shows PIF now owns a 6.07 percent stake in the Japanese console maker.

PIF is chaired by Saudi crown prince and deputy prime minister, Mohammed bin Salman Al-Saud, who has been linked with the assassination of The Washington Post journalist Jamal Khashoggi and accused of torturing human rights activists.

The investment fund previously purchased a 5.01 percent stake in Nintendo in May 2022 to become the company's fifth-largest shareholder.

At the time, Nintendo said it only learned about that investment from news reports but added that it wouldn't be commenting on individual shareholders.

PIF has made significant inroads into the video game industry over the past two years with a string of investments, sinking cash into other major Japanese companies such as Capcom and Nexon and grabbing $3 billion worth of stock in Activision Blizzard, EA, and Take-Two Interactive back in February 2021.

About the Author(s)

Chris Kerr

News Editor, GameDeveloper.com

Game Developer news editor Chris Kerr is an award-winning journalist and reporter with over a decade of experience in the game industry. His byline has appeared in notable print and digital publications including Edge, Stuff, Wireframe, International Business Times, and PocketGamer.biz. Throughout his career, Chris has covered major industry events including GDC, PAX Australia, Gamescom, Paris Games Week, and Develop Brighton. He has featured on the judging panel at The Develop Star Awards on multiple occasions and appeared on BBC Radio 5 Live to discuss breaking news.

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