Saudi Arabia increases Nintendo stake to 6%

Six percent of Nintendo is now owned by the Public Investment Fund of Saudi Arabia, the financial system set up by the country’s highly controversial Prince Mohammed bin Salman.

The state’s growing share has risen to 6.07 percent from 5.01 percent last May when its investment was first discussed.

At the time, Nintendo said it learned about the investment from news reports and declined to comment further. This latest update comes from Nintendo’s own report, via Reuters. We have contacted Nintendo for further comments.

Saudi Arabia’s PIF has invested heavily in video game companies worldwide and now owns similar stakes in Capcom, Nexon, Koei Tecmo, EA, Activision Blizzard and Take-Two, and a majority stake in SNK.

The idea behind the PIF is that it will act as a long-term investment fund for the Saudi state as the world slowly moves away from its dependence on Saudi oil, as well as a more respectable, business-like front for the country despite Prince Mohammed bin Salman’s own reputation.

The crown prince has been framed by the CIA for the assassination of Washington Post journalist Jamal Khashoggi, while his rule over Saudi Arabia has perpetuated the country’s notoriously poor human rights record, with homosexuality still being criminalized with penalties ranging from flogging to the death penalty.