Jeff Bezos Buys The Washington Post
It has been reported that the founder of Amazon.com has purchased the Washington Post Companies for $250,000,000. The Washington Post is a newspaper company, it owns TV stations, and Kaplan University.
Jeff Bezos has an estimated net worth of 28 billion dollars. His purchase of the Washington Post might be considered chump change as it is less than 1% of his net worth. He has made a considerable amount of money in the stock recently. He is not the only uber wealthy person to buy a media company. John Henry, Warren Buffet, and now Jeff Bezos have their hands on major media companies.
I have a little part time job with the Miami Herald. The newspaper business is not what it used to be. On one hand I'm glad that there are wealthy people willing to invest in newspapers. But, I am more than a little bit puzzled as to why a hedge fund manager, a wealthy investor in his 80's, and now a logistics, marketing, and computer guy are buying companies in an industry with an uncertain future.
Rupert Murdoch and Fox News now has some company. It's often been said that Jeff Bezos does not care about profits. He doesn't seem like William Randolph Hurst, and I don't think he has politics in his blood like the Grahams have.
There must really be some tax benefits to shelter the wealth that has been created by free money from the Fed. Ya think.
Jeff Bezos has an estimated net worth of 28 billion dollars. His purchase of the Washington Post might be considered chump change as it is less than 1% of his net worth. He has made a considerable amount of money in the stock recently. He is not the only uber wealthy person to buy a media company. John Henry, Warren Buffet, and now Jeff Bezos have their hands on major media companies.
I have a little part time job with the Miami Herald. The newspaper business is not what it used to be. On one hand I'm glad that there are wealthy people willing to invest in newspapers. But, I am more than a little bit puzzled as to why a hedge fund manager, a wealthy investor in his 80's, and now a logistics, marketing, and computer guy are buying companies in an industry with an uncertain future.
Rupert Murdoch and Fox News now has some company. It's often been said that Jeff Bezos does not care about profits. He doesn't seem like William Randolph Hurst, and I don't think he has politics in his blood like the Grahams have.
There must really be some tax benefits to shelter the wealth that has been created by free money from the Fed. Ya think.
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