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Culture War Roundup for the week of September 29, 2025

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Saudi Arabia takes its biggest step yet into the biggest of culture war arenas:

EA Announces Agreement to be Acquired by PIF, Silver Lake, and Affinity Partners for $55 Billion

Electronic Arts has been bought up by the Saudi investment arm PIF, alongside Jared Kushner's Affinity Partners and PE giant Silver Lake. The trio paid $55Bn for EA, albeit in a leveraged buyout involving $20Bn of debt financing(!).

On the surface, nothing too interesting, perhaps another example of the incredible growth in private equity. And that might be all there is, just 3 funds thinking there is untapped potential in what was an often poorly run gaming giant. However, PIF is almost certainly the largest owner, and AP News identifies the deal as part of the Saudi strategy. I expect Kushner is either wetting his beak or acting as a lightning rod for the Saudis, while Silver Lake probably needed no encouragement to get in on the deal.

The Saudis appear to have identified major cultural industries in Sports and Gaming as prime opportunities for...something? "Sportswashing" makes sense for the tiny nations and city states like Qatar and Abu Dhabi which have no real power outside of their resources, but it's not clear what Saudi Arabia gains from pumping hundreds of billions into these industries. Much has been said of the desire of MBS to diversify Saudi Arabia, and at least with this deal there is room to move EA functions into the country, but it's a drop in the bucket. The leveraged nature of the deal is also unusual; that's the kind of option you typically pursue when asset stripping - neither the Saudis nor Silver Lake needs that kind of business.

Saudis have dumped a ton of money into sports ventures like LIV golf and saudi league ft. ronaldo. They've also spent (a lot less) on esports/gaming such as the esports world cup where they crowned their own sponsored org as the victor two years in a row. The end goal, presumably, is to gain positive cultural influence in the west as opposed to simply oil, repressive islam, and terrorism. Maybe for pride as much as anything else.

It’s a play for hearts and minds of current young Americans, and it’s probably working. Youth today probably don’t think of Saudi Arabia in the same breath as Iran, and that’s what they want.