The Public Investment Fund of Saudi Arabia has taken possession of a greater amount of Nintendo’s shares, raising its holding to a 6.07% stake in the enterprise renowned for its characters such as Mario. Before this, it held 5.01% of Nintendo’s stock.

The PIF has a great deal held in organizations such as Capcom, Nexon, Koei Tecmo, Activision, EA, and more. The finance is investing in the video game industry in the hope that the expected increase in the industry will result in a worthwhile financial gain.

The PIF are administering these funds through their Savvy Gaming Group (SGG) team. The Saudi government’s expenditures in the gaming industry have been a source of discord, due to their highly controversial stand on human rights. In 2018, an American journalist Jamal Khashoggi, who spoke out against the Saudi state, entered the Saudi consulate in Istanbul and was never seen again. The CIA deduced that the murder was at the bequest of Saudi Crown Prince Mohammed bin Salman.

In 2022, Embracer Group obtained $1 billion from the government of Saudi Arabia and justified the decision, claiming it was in agreement with the organization’s objective, tactics, and executives.

The PIF portfolio contains notable investments such as Microsoft, Disney, Uber, Google, and Amazon. Closer to home, the corporation is a main sponsor of the LIV Golf joust and there are reports of the PIF taking control of the WWE.

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