Saudi Arabia Becomes Largest Outside Shareholder of Nintendo

Saudi Arabia's Public Investment Fund became the largest outside shareholder of Nintendo on Friday, in the latest move by the Gulf state to lower its reliance on oil. From a report: The sovereign wealth fund now owns 8.3% of the Kyoto-based games company, according to a filing, building up a position that stood just above 6% at the start of the year. That puts PIF ahead of Japan's Government Pension Investment Fund and behind only Nintendo's own holding, according to data compiled by Bloomberg. Under Crown Prince Mohammed bin Salman, Saudi Arabia is making a concerted push to break into the games and esports industry. Most notably, it set up Savvy Games Group under the PIF umbrella with a $38 billion budget and longtime industry veterans in charge. Savvy this week revealed its first foray into China's games sector with a $260 million investment in a Tencent-backed competitive gaming organizer.

Could be worse.

[geekmux]

When the world's largest group of billionaires gets bored and decides to diversify their portfolio, Nintendo at least sounds like a peaceful investment. As opposed to you know, just buying up nuclear armed countries instead.

(A planet has literally been running on their product and feeding obscene profits for decades. Don't pretend like they can't afford it.)

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[Locke2005]

Goombas will be replace by infidels...

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[gosso920]

Does Nintendo have any flight simulator games coming out?

New Nintendo Game

[Comboman]

Coming soon to the Nintendo Switch: Bonesaw! Cut you critic into pieces before time runs out. Rated E for Everyone.

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[pak9rabid]

Buy me Bonesaw or go to Hell!

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[Locke2005]

No, they just cling to anachronistic ideas. You know, like the one where women are considered property? Mohammed himself was actually extremely liberal for his time, and thought women should be able to own their own property!

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[ArchieBunker]

What the fuck are you babbling about?

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[jacks smirking reven]

So because bad things happen in one country no one can call out things they also find bad in their own country? I can probably apply this own logic to handwave away almost anything you actually care or advocate for as well.

I also noticed you don't actually list out a specific issues, you just throw out an insulting term, basically do a massive whataboutism and generalization and walk away like you are very smart when you've actually said or stood by nothing, made no actual argument, literally just virtue si

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[greytree]

So *you* have never seen a feminazi publicly accuse people of "misogyny" because they insulted *her and her alone* ?
So therefore that never happens.

Your whine is less than nothing, it is not discourse.

Change is good.

[Locke2005]

No truth to the rumor that the third Mario brother will be named Mohammed. But Yoshi will be replaced by a camel.

Re:Change is good.

[ArchieBunker]

Princess Daisy will now be required to wear a burka and stop showing off those shameful ankles.

I bought a Nintendo Game & Watch last year

[Rosco P. Coltrane]

One of those: https://www.theverge.com/2020/... [theverge.com]

Nice toy. I like it. But I wouldn't buy it today, knowing whose pockets part of my money will go into. People with a sense of morality should boycott Nintendo.

They're trying to buy the world with oil money

[rsilvergun]

before the oil money dries up. They'll use some of that money to slow it down, but renewables are already cheaper than oil and gas in many if not most locations, and it's just a matter of building out capacity.

Time to ban Nintendo

[oumuamua]

Can't have an authoritarian regime with human rights violations influencing our youngsters!

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[chilvence]

Isn't banning stuff what authoritarian regimes do?