Friday, February 19, 2021

Saudi Sovereign Fund Invests US$3.3 Billion In Major Video Game Companies

The Saudi Public Investment Fund (PIF) recently made a hefty investment into shares of several major video game studios. The investment firm, owned by the Saudi crown prince, Mohammed bin Salman (also known by his acronym, MBS), now reportedly has stakes in Activision, Blizzard, EA, and Take-Two.

According to a report by Al-Jazeera, the sovereign wealth fund has acquired US$3.3 billion (~RM13.33 billion) worth of stocks from the three game companies, during the fourth quarter of last year. To break it down, it spent US$1.3 billion (~RM5.25 billion) on Activision Blizzard, US$1 billion (~RM4.05 billion) on EA, and US$825 million (~RM3.33 billion) in Take Two.

Additionally, the Riyadh-owned firm also has a stake in the US-based ride sharing company, Uber. US$4.4 billion (~RM18 billion) worth of shares, to be exact.

It bears mentioning that this isn’t the first time the crown prince has invested in video games. Known for his love of the medium, the Saudi prince purchased shares at SNK back in November last year; he now owns more than a third of the company.

The crown prince has also courted controversy for non-gaming matters in the past, chief among which being his alleged involvement in ordering the murder of Jamal Khashoggi, a Saudi-based journalist who worked at the Washington Post.

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