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 deal was dubbed as 'a landmark day in the music industry'.
Morgan Stanley predicts the company will have over 53m paid UAE subscribers by 2023. UAE Subscribership currently stands at 11m.
WOMAD Director claims that Artist are ‘losing interest’ in performing in the UK due to rigorous visa processes.
"This is a historic moment in latin music".
The app has over 36m subscribers and promotes mostly African artists.
The deal gives Downtown the rights to over 700 compositions, including songs by One Direction, Sam Smith and Madonna.