Summary
Saudi Arabia's Public Investment Fund is buying Electronic Arts, a major video game publisher, for $55 billion. This deal, involving Jared Kushner’s private equity firm, is the largest-ever leveraged buyout of a public company. It marks a significant move by Saudi Arabia to expand its influence in the global gaming industry.
Key Facts
- Electronic Arts is a top video game publisher known for popular games like FIFA, Madden NFL, and The Sims.
- Saudi Arabia’s Public Investment Fund (PIF) is leading a $55 billion deal to acquire Electronic Arts.
- This acquisition is the largest leveraged buyout of a publicly traded company in history.
- Jared Kushner's firm, Affinity Partners, is involved in the transaction.
- PIF plans to invest $38 billion in the gaming sector by 2030.
- Saudi Arabia already has stakes in other gaming companies and recently acquired Niantic's gaming division.
- Critics say this move is part of a broader strategy to improve Saudi Arabia's global image through sports and gaming investments.
- The acquisition aligns with Saudi Arabia's Vision 2030 plan to diversify its economy away from oil.
