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Jared Kushner and Saudis take EA Games private in a massive deal. Trump connection under spotlight
Video game giant Electronic Arts is reportedly going private in a $55 billion deal led by Jared Kushner and backed by Saudi Arabia's Public Investment Fund. This massive acquisition, paying shareholders $210 per share, raises concerns among gamers and human rights groups. Jared Kushner is Donald Trump's son-in-law who founded the investment firm Affinity Partners in 2021.
Video game maker Electronic Arts is going private in a $55 billion deal that's funded by Saudi Arabia and a Jared Kusher-backed investment firm. Donald Trump's son-in-law is poised to lead a $55 billion deal backed by Saudi Arabia to buy Electronic Arts, reports CNN.
The deal, led by Ivanka Trump's husband, Jared Kushner, is set to pay shareholders $210 per individual share, marking the largest leveraged buyout on record. The massive sale will involve Saudi Arabia's Public Investment Fund, Jared Kushner's Affinity Partners, and Silver Lake.
Electronic Arts has created some of the most famous video games in the world, including The Sims, Plants vs Zombies and Titanfall. It is also the owner of EA Sports, producing some of the gaming industry's biggest sports franchises, including, until recently, the FIFA series.
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Who is Jared Kushner?
Jared Kushner, senior advisor to Donald Trump during his first administration, founded the investment firm Affinity Partners in 2021. The company frequently invests in American and Israeli companies and it receives a significant portion of its funding from the Saudi government.Jared Kushner is Donald Trump's son-in-law and the founder of Miami-based private equity firm Affinity Partners. Affinity has raised $4.6 billion from high-profile Middle Eastern backers like the Saudi and Qatari sovereign wealth funds as well as Foxconn founder Terry Gou, as per Forbes.
From 2008 to 2017, he served as CEO of Kushner Companies, the real estate firm co-founded by his father and grandfather. He later acted as a senior advisor to President Donald Trump throughout his first term, from 2017 to 2021. In November 2021, Forbes reported that launching Affinity Partners had boosted “Kushner's net worth to at least $900 million.”
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The publication claimed that his net worth had increased by 180 percent since becoming senior advisor to Trump in 2024. Affinity has helped boost Kushner's net worth to at least $900 million, up 180% from early 2017, when he became senior advisor to Trump.
Jared Kushner says that he is “excited” about the sale of Electronic Arts. “Electronic Arts is an extraordinary company with a world-class management team and a bold vision for the future. “I've admired their ability to create iconic, lasting experiences, and as someone who grew up playing their games - and now enjoys them with his kids – I couldn't be more excited about what's ahead,” he said.
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Why there is concern over deal
However, some gamers have voiced concerns about the future of their favorite franchises in light of Saudi Arabia's stance on minority rights. In the kingdom, same-sex relationships are illegal and cannot be depicted on television, in films, or in video games.One frustrated gamer quipped, “The Sims 4, but you get banned if you make a gay Sim,” reflecting fears about the franchise's direction. International human rights organizations have previously criticized the Saudi Public Investment Fund (PIF), alleging it has profited from “rights abuses.”
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“Crown Prince Mohammed bin Salman has consolidated political and economic power, including as chairman of Saudi Arabia's Public Investment Fund (PIF), a sovereign wealth fund that has facilitated and benefited from rights abuses,” wrote Human Rights Watch.
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Source: EconomicTimes
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