A US Securities and Exchange Commission [SEC] filing was been uncovered that shows the Saudi Public Investment Fund [PIF] has acquired shares in several American publishers; Activision Blizzard, EA, and Take-Two Interactve.
The PIF, which is the Saudi Kingdom’s investment group and chaired by Prince Salman, invested over $3.3 billion between the three publishers.
The Saudi Kingdom’s placed these investments in Q4 2020.
Following the investments, the PIF now owns $1.3 billion in Activision and $1 billion in EA. This equates to around 3.5% and 2.6% of Activision and EA’s total shares. The PIF invested $825 million in Take-Two which works out at about 3.5% of Take-Two’s total share totals.
This isn’t the first time that Saudi has had interests in the video game industry, however. The Saudi Kingdom previously acquired a 33.3% stake in SNK. It also entered into a (now failed) partnership with Riot Game’s League of Legends European Championship.
The various investments are a part of an ongoing attempt to diversify Saudi’s economy and its dependence on oil.