Media ownership by billionaires is nothing new as wealthy individuals and families have dominated the media landscape for centuries.
Newspapers and magazines that are now under new billionaire ownership include The Washington Post, The Wall Street Journal and many other prominent media outlets.
But few people are aware of which channel belongs to whom. Here’s a look at some of the billionaires who own news media in the United States:
Jeff Bezos, The Washington Post
The Amazon founder and one of the most richest person in the world,Jeff Bezos bought the Washington Post for $250m in 2013.
As per the Guardian, he said, on hi decision, “I had to do some soul-searching … Is this something I want to get involved in? I started to realise this is an important institution.”
Rupert Murdoch – News Corp
Rupert Murdoch is the former CEO of 21st Century of Fox, which is the parent company of the well-known cable channel Fox News. He is widely regarded as one of the most powerful media tycoons.
He serves as the executive co-chairman of 21st Century Fox with his son Lachlan and is also chairman of News Corp, publisher of The Wall Street Journal and various other media outlets.
In total, his family oversees 120 newspapers in five countries.
Michael Bloomberg – Bloomberg LP and Bloomberg Media
Michael Bloomberg, the richest billionaire in the media industry launched Bloomberg L.P, the information technology start-up in 1981.
When Salomon Brothers was taken over by Phibro Corporation, Michael received a $10 million check for his partnership interest in the firm and now the majority of the company has been owned by Michael since it was established, and he currently owns 88% of it.
Laurene Powell Jobs- The Atlantic
The billionaire philanthropist and widow of Apple’s co-founder, Steve Jobs, Powell Jobs bought a majority ownership in the Atlantic in 2017.
