The Kingdom of Saudi Arabia bought 12,337,569 shares in Live Nation Entertainment, according to an SEC filing.
This comes less than two years after Ma was promoted to CEO of Warner Music China.
The sum will be divided up amongst three COVID-19 relief funds, including AIM's, Musician Unions', and Help Musicians'.
The former politician will officially take up the role in April, with plans to first tackle the COVID-19 fallout.
Sales were down 29% the week ending March 19 - the lowest in US history.
Musicians who have had work canceled can apply now for rent and mortgage assistance through the growing fund.
The deal is expected to closed in the second quarter of 2020.
Revenue from film music, which makes up 80% of IMI members revenue, has come to a halt.
The African streaming giant has seen a recent increase in streaming and subscription activity.