The Saudi crown prince, Mohamed bin Salmán, would be seeking to make the country’s economy less dependent on oil.
It cannot be said that this 2022 is not being surprising in terms of investments and acquisitions As far as the year is concerned, the year started with Microsoft buying Activision Blizzard for about $70 billion in one of the most unexpected deals in video game history, followed by PlayStation taking over Bungie, the studio behind Destiny and Halo, for $3.6 billion.
But there is still a long year ahead and it seems that a lot of news awaits us in this area. This time it was the parents of Street Fighter, Resident Evil and Monster Hunter who received the look of Mohammed bin Salmanthe crown prince of Saudi Arabiawho had already shown his interest in the video game market on previous occasions, with investments as important as the one it carried out in 2020, acquiring 33% of SNK.
The investment has come this time from the sovereign wealth fund of saudi arabiaas reported VGCand would have meant an outlay of more than 1,000 million dollars from the country’s Public Investment Fund. This operation has led Saudi Arabia to seize the 5% as much of capcom like from south korean company Nexon.
Saudi Arabia has acquired 5% of both companiesThese investments in video games by the Saudi leadership would be seeking to make its economy less dependent on oilworking to be “a global investment powerhouse and the world’s most impactful investor, enabling the creation of new sectors and opportunities that shape the future global economy, while driving the saudi arabia economic transformation“, as can be read on the website of the Public Investment Fund.
Regarding the large investments in video games, Toni Piedrabuena tells you in his opinion column about a hypothetical disappearance of the video game middle class, following the path of the movie and sports billionaires.
More about: Capcom, Nexon and Saudi Arabia.