Saudi wealth fund becomes biggest outside Nintendo investor

Published February 17, 2023 2:28 AM

By JON GAMBRELL
Associated Press

DUBAI, United Arab Emirates (AP) — A Saudi sovereign wealth fund now holds 8.26% of the stock in the video game maker Nintendo, making it the largest outside investor in the Japanese gaming company. That’s according to a company filing Friday. The investment is part of efforts by the kingdom’s Public Investment Fund to diversify Saudi Arabia’s economy away from oil. However, the purchase of Nintendo and other gaming stocks also entangles the video game companies into the politics surrounding Saudi Arabia and its assertive 37-year-old crown prince. American intelligence agencies believe Prince Mohammed ordered the slaying of Washington Post columnist Jamal Khashoggi in 2018.

Article Topic Follows: AP National News

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