Tuesday, March 9, 2021

“Teenage Prince” Bin Salman spent a state budget on video games he is fond of! | A nation is tweeting out of tune

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A gaming economics website exploded a big surprise over the spending of Saudi Crown Prince Mohammed bin Salman. On video games.

Site “Gaming Economy“He revealed in a lengthy report that the teenage Prince Mohammed bin Salman, who has become the de facto ruler of the kingdom. He bought shares in huge amounts from American gaming companies.

And this money that bin Salman spent to satisfy his passion for video games is from the Saudi wealth fund.

The crown prince contributed in this regard, represented by 3 American gaming companies.

Its value is $ 3.3 billion, which is a very large number and sometimes represents a country’s budget.

The report indicated that bin Salman’s investment in these companies was due to his passion for video games.

According to recent reports, the Saudi crown prince, Mohammed bin Salman, spends lavishly on state funds on his banalities and whims.

What made his controversial behavior a focus of international newspapers due to the huge sums he spends buying worthless things.

Bin Salman bought 14.9 million shares from Activision Blizzard, worth $ 1.3 billion.

Electronic Arts also bought 7.4 million shares, worth $ 1.06 billion.

Take-Two Interactive was 3.9 million shares valued at $ 825 million.

The site was based on a quarterly report by the US Securities and Exchange Commission (SEC).

Specifically, he said, the fund headed by bin Salman had bought 14.96 million shares of Activision Blizzard.

That’s $ 1.389 billion (£ 990.1 million).

This is in addition to the 7.42 million shares in Electronic Arts (EA) for $ 1.066 billion (£ 760.4 million).

And 3.97 million shares of Take-Two Interactive Software for US $ 825.5 million (£ 588.8 million).

The report also indicated that these investments were made alongside many other technology and entertainment companies.

Most notable was an investment of $ 3.71 billion (£ 2.65 billion) in Uber technology.

A few days ago, an international report revealed that the Saudi crown prince had acquired the largest gaming company in the world with an incredible amount.

In this context, the American “Bloomberg” agency revealed that Bin Salman invested a huge sum of money in the largest American companies active in the field of games.

The agency described Bin Salman as “the prince who loves video games.”

It also accused him of squandering the Saudi investment fund “to satisfy his obsession with buying game companies.”

The teenage crown prince advances on these banalities while Saudi Arabia is looking for huge external financial loans to cope with its economic crises.

The agency described Mohammed bin Salman as a reckless prince who is considered part of the first Saudi generation who grew up on video games.

Bin Salman told The New Yorker in 2018 that his favorite game was the Call of Duty series.

A subsidiary of the Crown Prince Charitable Organization, the Mohammed bin Salman Foundation, said in November 2020 that it had bought a third of the stake in SNK.

She indicated that she is the Japanese developer of the game The King of Fighters and Samurai Shodown, and that she will increase her share to 51% in the future.

However, the agency revealed that Bin Salman acquired 14.9 million shares in Activision, with a market value of nearly $ 1.4 billion, during the fourth quarter.

His other purchases included 7.4 million shares in Electronic Arts, and 3.9 million in Take-Two.

It indicated that it was worth $ 1.1 billion and $ 836 million, respectively, at the end of December.

Saudi money wasted

It is noteworthy that in October of 2020, doubts were raised about the authenticity of the painting “Salvatore Mundi”, which is the most expensive painting in the world. Saudi Crown Prince Mohammed bin Salman is believed to have bought it for $ 450 million, and it is now in one of his yachts.

This is after a French historian said that the hands in the painting are “too childish”, believing that it could not have been Leonardo Da Vinci who painted it.

Salvatore Mendy sold for $ 450 million in 2017.

But technical expert Jack Frank believes it is a “Leonardo workshop” run by two of his assistants, according to the British newspaper, “Daily Mail”.

And the agency “Bloomberg” of America had confirmed earlier, that the painting “The Savior” painted by Da Vinci, was sold for an incredible amount. She stated that she is on a yacht owned by the Saudi crown prince.

On June 10, 2019, the agency reported that confirmation of the painting’s presence in the Saudi prince’s yacht was mentioned by the specialized website, Art.net. In addition to assurances from officials who were involved in the purchase that took place about two years ago.

The New York Times also revealed that a Saudi prince had acquired the famous painting for Mohammed bin Salman at a value of $ 450 million. In late 2017, the painting was on display at Christie’s in New York.

Mohammed bin Salman’s yacht

According to data also obtained by the agency after monitoring the navigation movement, the yacht of the Saudi crown prince, called “Sirin”, exists. Since May 26, 2019, in the Red Sea off Sharm el-Sheikh, Egypt.

Da Vinci’s painting became the most expensive work ever sold at auction. The fate of the painting raised many questions after its purchase two years ago.

The ambiguity increased after the Abu Dhabi Department of Culture and Tourism announced, about a month after the auction, that it had somehow obtained the “Salvatore Mendy” painting. For display at the local Louvre Museum.

However, the event, which had announced its date for the unveiling of the painting in September 2018, has been canceled, without explanation.

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"Teenage Prince" Bin Salman spent a state budget on video games he is fond of! | A nation is tweeting out of tune