This came out of nowhere as the video game giant electronic arts has apparently reached an agreement to be sold for $55 billion. Apparently, the buyer is Saudi Arabia which may not be as surprising considering they recently made huge purchases in the gaming space such as the company Niantic games and its widely popular Pokémon Go game. They seem to be aggressively entering the entertainment space as they explore revenue streams outside of the oil economy.
I suppose that is wise as a lot of countries are trying to use as much electricity as possible as an energy source and that will eat into the demand for oil eventually. At the same time, it’s making people uneasy about the new ownership as culturally every country is different which could mean drastic changes and ultimately supporting the new owners financially.
But in general, it’s a good example of using your wealth to diversify in growing industries versus just spending everything on parties and fancy restaurants as an example.