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Nintendo Saudi Arabia has bought a 5% stake in Nintendo

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Bloomberg reports that the country’s Public Investment Fund, a sovereign wealth fund chaired by crown prince Mohammed bin Salman, made the purchase for investment purposes.

The acquisition makes it the fifth-largest Nintendo shareholder, according to Bloomberg’s data.

The Public Investment Fund (PIF) is reportedly central to crown prince Mohammed bin Salman’s goal of making the Saudi economy less reliant on proceeds from oil.

PIF’s continued investments in video game companies may raise concerns for some, given Saudi Arabia’s longstanding history of human rights abuses.

The crown prince in particular has been accused of ordering the murder of journalist Jamal Khashoggi.
 
If they are less reliant on their oil proceeds then why are we still asking for higher prices at the pump? Yeah, I'm not into world economics.
 
I hope Saudi Arabia buying 5% of Nintendo will help Nintendo publish high quality games and develop new game consoles for people to enjoy.
 
Artisan Vistra said:
If they are less reliant on their oil proceeds then why are we still asking for higher prices at the pump? Yeah, I'm not into world economics.
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He’s making them less reliant, not they are less reliant. So they’re still heavily reliant on it. There are also other OPEC countries to worry about that still heavily rely on oil.
 
Grungie said:
He’s making them less reliant, not they are less reliant. So they’re still heavily reliant on it. There are also other OPEC countries to worry about that still heavily rely on oil.
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And I said if they are less reliant. It is going to be a slow change but I would expect it should be a noticeable sign.
 
Artisan Vistra said:
And I said if they are less reliant. It is going to be a slow change but I would expect it should be a noticeable sign.
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The first sentence doesn't change my point, because they're still currently reliant on it. Because they're still currently reliant on it, there isn't a noticeable sign. Changing the focus of your economy doesn't give you an overnight result in something like gas prices. They basically just started on investing in other industries, and because they just started the investment, the possible money they're making on it hasn't happened yet.
 
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