• Saudi Arabia's Public Investment Fund (PIF) is set to own 93% of Electronic Arts following the completion of a historic $55 billion leveraged buyout.
  • The deal, announced in late September 2025, will take EA private and represents the largest LBO in history.
  • The acquisition is a cornerstone of PIF's strategy to dominate the global gaming sector, though recent reports suggest the fund may be facing financial strain from its expansive spending.

In a move that reshapes the landscape of the global video game industry, Saudi Arabia's sovereign wealth fund is poised to become the near-total owner of Electronic Arts Inc. A recent filing shows the Public Investment Fund (PIF) will hold a 93% stake in the gaming giant once a $55 billion acquisition closes, expected in the first quarter of fiscal 2027.

The transaction, officially announced on September 29, 2025, is being executed by a consortium that includes private equity firm Silver Lake and Affinity Partners, the investment firm founded by Jared Kushner. Under the agreement, EA shareholders will receive $210 per share in cash, a significant 25% premium to the company's unaffected share price of $168.32 in late September. PIF, which already held a 9.9% stake in EA, will roll that existing investment into the new ownership structure, representing an equity commitment of roughly $36 billion.

"This partnership provides EA with unparalleled resources and strategic independence to accelerate our vision for the future of interactive entertainment," EA CEO Andrew Wilson said in a statement at the time of the deal's announcement. Wilson, who has overseen a period of dramatic growth at the publisher of Madden NFL and The Sims, has assured staff that the company's creative values and commitment to diversity in its games will remain unchanged. Attempts to reach EA and PIF for further comment on the filing details were not immediately successful.

The deal's financing includes a substantial $20 billion debt package arranged by JPMorgan Chase Bank, with $18 billion expected to be funded at closing. This massive leverage component cements the acquisition's place as the largest leveraged buyout ever recorded. For PIF, the move is a definitive statement of intent within its broader Vision 2030 economic diversification plan, which aims to rebrand the kingdom as a global hub for entertainment and technology. The fund has been aggressively building a gaming portfolio, including a $3.3 billion stake in Activision Blizzard in 2021 and investments in Nintendo and Take-Two Interactive.

However, the sheer scale of the commitment comes amid questions about the fund's financial bandwidth. Reports emerged in November 2025 suggesting PIF may be facing financial distress due to the combination of this and other mega-acquisitions in media, alongside massive domestic projects like the futuristic city Neom. Analysts are now watching closely to see if the fund's ability to bankroll new ventures could be constrained, potentially affecting the pace of its global investment spree.

The transaction is not without its geopolitical and ethical complexities. The involvement of Kushner's Affinity Partners links the deal to broader U.S.-Saudi relations, while some industry observers have cautioned that PIF's majority ownership—given Saudi Arabia's human rights record—could eventually lead to content restrictions or studio restructuring, despite current assurances. The deal remains subject to customary regulatory approvals and a vote by EA stockholders.

Correction: An earlier version of this article misstated the expected closing quarter. The deal is anticipated to close in the first quarter of fiscal 2027.