• Loading stock data...
Wednesday, July 9, 2025

Saudis Double Down on Video Game Investments

  • The Public Investment Fund, Saudi Arabia’s sovereign wealth fund, is doubling down.
  • The wealth fund increased its shares in American video game companies.
Activision/Design: Alex Brooks

The Public Investment Fund, Saudi Arabia’s sovereign wealth fund, is doubling down on its investments in American companies. 

Headed by Crown Prince Mohammed, the PIF has focused on investments in technology, mobility, tourism, and entertainment to help alleviate the country’s reliance on oil.  

The wealth fund increased its U.S. stock holdings to $15.4 billion in Q1 2021 compared to nearly $12.8 billion at the end of 2020, according to a U.S. regulatory filing.     

During the fourth quarter of 2020, the PIF acquired $3.3 billion worth of stock in three of the biggest video game companies in the world. This past quarter, it bought even more and now has:

  • 33.4 million Activision Blizzard shares (up from 14.9 million) worth $3.1 billion
  • 14.2 million Electronic Arts shares (up from 7.4 million) worth $1.9 billion
  • 5.6 million Take-Two Interactive shares (up from 3.9 million) worth $996 million

Prince Mohammed has spoken publicly about his love of Activison’s “Call of Duty.”

Saudi Arabia’s financial stakeholders have been aggressive about investing in American companies as the U.S. rebounds from the pandemic. Their motivation? Lost opportunities to pick up American stock at a bargain during the 2008 financial crisis.  

As an early investor in Uber Technologies, the PIF saw the value of its biggest U.S. stock holding rise to nearly $4 billion in the first quarter, up from $3.7 billion as of Dec. 31. 

The PIF has also invested in Disney, Carnival, Live Nation, Facebook, and more. The $400 billion wealth fund wants to increase the total worth of its assets to $1 trillion by 2025.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

July 9, 2009; Auburn Hills, MI, USA; Detroit Pistons president Joe Dumars during the press conference to introduce their new head coach John Kuester at their practice facility.

Joe Dumars Leaving NBA League Office to Run Pelicans

Joe Dumars was the architect of the 2004 champion Pistons.
Mar 20, 2025; Providence, RI, USA; Arkansas Razorbacks forward Karter Knox (11) controls the ball against Kansas Jayhawks during the first half at Amica Mutual Pavilion.

Men’s March Madness Sets Opening-Day Viewership Record

CBS Sports and TNT Sports scored big with Arkansas–Kansas.

Callaway’s LIV Deal Shows How Much Golf Has Shifted

The company has signed a first-of-its-kind club contract.
Jun 13, 2018; Moscow, Russia; A general view of a beer stand inside of Luschniki Stadium one day prior to the start of the FIFA World Cup 2018.

Saudi Arabia Says No Alcohol at 2034 World Cup

Saudi Arabia won’t allow alcohol anywhere during the 2034 World Cup.

Featured Today

American Celebs Want to Be Sports Owners. Soccer Is Where They Start

As U.S. team prices climb, investors set their sights abroad.
July 5, 2025

Baseball’s Celebrity Row: Behind MLB’s First-Pitch Ritual

Often planned, sometimes spontaneous, the ritual throw is baseball’s celebrity row.
July 4, 2025

3,000 Hot Dogs, $20K in Prizes: Behind the Nathan’s Eating Contest

Nathan’s serves up thousands of hot dogs and $20,000 in prize money.
July 3, 2025

Geoffrey Esper Can’t Catch a Break at Nathan’s Hot Dog Eating Contest

“Hot dogs is not one of my favorite competitions of the year.”

Thunder Favored, but Bettors Backing Pacers Big in NBA Finals

The most bet-on exact series outcome is the Thunder winning in five.
Fanduel
March 4, 2025

FanDuel Retains Sports Betting Crown With $14B in 2024 Revenue

The FanDuel parent company posts big increases in revenue and net income.
May 8, 2025

FanDuel Misses Projections As Betting Favorites Dominate 

FanDuel is hit by customer-friendly betting outcomes during March Madness.
Sponsored

Game On: Portfolio Players Stories, Brought to You by E*TRADE from Morgan Stanley

Dealmaker Jeffrey Kaplan maps the evolution of sports as an asset class
February 20, 2025

Americans Bet $148 Billion on Sports in 2024, Up 23.6%

Both overall handle and revenue rose by more than 20% last year.
DraftKings app
February 14, 2025

Lawsuit Says DraftKings VIP Program ‘Preyed On’ Gambling Addicts

The company’s being sued for negligence and intentional infliction of emotional distress.
August 20, 2024

Beloved ‘Backyard Sports’ Brand Says It Will Relaunch After Decade Hiatus

“Backyard Baseball” was a turn-of-the-century computer hit. 
DraftKings
August 2, 2024

DraftKings Announces Consumer Tax Starting Next Year

The company’s stock fell 5% Friday morning.