Months before Electronic Arts Inc. and Saudi Arabia’s Public Investment Fund (PIF) agreed to a record-breaking $55 billion buyout, Jared Kushner played a key role in connecting the parties, Bloomberg reports.
According to sources familiar with the matter, Kushner, former senior adviser to President Donald Trump and husband of Ivanka Trump, facilitated the initial introduction between the Redwood, California-based video game company and Saudi Arabia’s sovereign wealth fund. He remained a central figure in negotiations, even pushing to maintain momentum when talks slowed mid-year.
The deal, which values EA at approximately $210 per share, also involves Silver Lake Management and Kushner’s Affinity Partners. PIF will be the largest contributor to the $36 billion in equity backing the acquisition, while Affinity will hold the smallest stake. JPMorgan Chase & Co. is providing $20 billion in financing to support the buyout.
Kushner’s involvement underscores the intricate web of business ties between wealthy Gulf states and the Trump family. Just as news of the EA deal reached Wall Street, the Trump Organization was reportedly finalizing a separate agreement for a development in Jeddah, Saudi Arabia’s second-largest city.
Affinity Partners, founded by Kushner in 2021, has previously invested in companies including Munich-based health technology firm EGYM and QXO Inc. in Connecticut. The Saudi sovereign wealth fund contributed roughly $2 billion to Affinity, which now manages $5.4 billion in assets from investors including the Qatar Investment Authority and Abu Dhabi-based Lunate.
The deal still requires approval from the Committee on Foreign Investment in the United States (CFIUS), which can approve, impose restrictions, or block transactions involving foreign investors. Observers note that Middle Eastern wealth funds face increased scrutiny under the Biden administration due to potential national security concerns, though a fast-track route for allies has been proposed.
Ben Freeman, director at the Quincy Institute, told Bloomberg that Kushner’s close relationship with PIF raises questions about the rigor of CFIUS review. “This is a gigantic American company being bought out by a foreign authoritarian regime with a terrible human rights record — you have to ask some questions,” he said.
Democratic lawmakers have previously scrutinized Kushner’s dealings with PIF. A September 2024 letter by former Senate Finance Chair Ron Wyden noted that the Saudi government paid Affinity approximately $87 million over three years. No wrongdoing was alleged.
If approved, the transaction would mark a significant milestone for PIF, which aims to position Saudi Arabia as a global hub for video games and esports. EA’s portfolio includes The Sims and other major titles, including games based on American football, hockey, and golf.
Kushner expressed excitement about the deal in a statement, highlighting his personal connection to EA’s games. PIF, which manages nearly $1 trillion, also maintains investments in real-world sports, including the LIV Golf league, which has frequently hosted tournaments at Trump Organization properties.
