Saudi PIF Takes Majority Control of Magic Leap
Posted on 12/27/2022
Florida-based company Magic Leap is an augmented reality company that has had some financial struggles. Saudi Arabia’s Public Investment Fund (PIF) took majority control of the company for US$ 450 million. PIF now has an ownership stake greater than 50% in Magic Leap. PIF has the right to appoint four directors on Magic Leap’s eight-member…
