Saudi Arabia’s Public Investment Fund has increased its EA holdings by about 55%. It’s the latest in a continuation of international investments by the country’s wealth fund, which has poured increasing amounts of money into Western and Eastern gaming industries over the years.
This information was first reported by Seeking Alpha, which found that national funds bought a significant amount of additional EA stock in the last quarter of 2022. The fund currently owns 24.81 million EA shares. EA currently has 276 million shares outstanding as of May this year, and Saudi Arabia is inching closer to 10% ownership of the company.
When it comes to the Saudi Public Investment Fund, the money keeps pouring in. As of April, the country had invested more than $38 billion in the industry, including investments in studios, e-sports and other miscellaneous ventures, according to Bloomberg. This includes many studios you may know – including Capcom and SNK! Saudi Arabia owns more than 96 percent of the latter, a fact the studio doesn’t believe affects the games it makes.
read more
