Billionaires buy news products.
Most organizations spend their marketing budget (operating expense) on news products to purchase Digital Advertisements. Billionaires purchase news products in the form of capital expenditure. Below are some news businesses owned by billionaires:
- Ambanis own Network 18.
- Adanis own NDTV and a stake in The Quint.
- The late Steve Jobs’ wife owns The Atlantic.
- Jeff Bezos owns Washington Post. He is the largest individual shareholder in Axel Springer SE.
- John Henry owns Boston Globe.
- Patrick Soon-Shiong owns The Los Angeles Times and The San Diego Union-Tribune.
- Pierre Omidyar owns The Intercept.
- Marc Benioff owns Time.
- Elon Musk bought Twitter.