Saudi Arabia has invested $ 1 billion in the Embracer Group

In recent years, the Prince of Saudi Arabia Muhammad ibn Salman actively invests in the gaming industry through the country's Sovereign Wealth Fund. Now among the assets of the fund there is also a significant share of Embracer Group. 

Key points: 

• The investment amounted to about $ 1 billion 
• The share of the Fund in Embracer is 8.1% in shares and 5.4% in votes 
• The Fund is now the second largest shareholder Embracer, writes VGC 
• Investments are being made Savvy Gaming Group is a division of the Foundation that focuses on the gaming industry 

The Fund also has the following assets: 

• 96% of the shares of the Japanese company SNK 
• About 3% of the shares in Take-Two, Activision Blizzard and Electronic Arts 
• Approximately 5% of the shares in Nintendo, CapCom, and Nexon 

It is believed that Muhammad ibn Salman so much is being invested in the video game industry as part of a special strategy - Saudi Arabia's economy is trying to diversify to make it less dependent on oil sales. 

Source: videogameschronicle.com