Why Billionaires Buy News and Social Media
Why do we have social media accounts?
Most of us have one or multiple accounts on social media. It may be Twitter, Facebook, Instagram, or any social media.
We have created social media accounts to promote our views.
We utilize social media to create a vibrant personal identity.
We promote our opinions, support others' views, write comments on prominent news headlines, share our daily work, and social engagement.
More prominently, we utilize social media to promote our business and products.
Social media have become a default mouthpiece for all stakeholders of society.
Why do billionaires buy print and digital media?
The print and digital media, including social media, overwhelm global consumers' minds. The value and importance of news and social media in human society are enormous. There is no way to ignore the effects of news and social media on the Internet-driven human civilization.
Earlier the top billionaires used to sponsor heavily the popular print news media. Now, the media have transformed into a hybrid promotional instrument, simultaneously present in both print and digital editions in cyberspace.
There has been a paradigm shift in the trends of corporate support for the news media. Currently, the top billionaires have been showing interest in buying or acquiring print and digital news media.
Acquiring news and social media is a business plan
People love assuming that some of the top billionaires are selflessly using their profit-making businesses for carrying out noble services around the world. It is true that a fraction of their profits is for serving a variety of societal causes.
Let us accept the fact that the top billionaires' primary purpose behind acquiring print and digital media is business gain and nothing else.
An additional gain is to have the power to control global political affairs and control the political powers across the nations!
Shall we review who else among the top billionaires purchased news and digital media in the recent past? The list only figures the major and big shots who were successful in acquiring top-earning news and digital media.
The list of top billionaires who bought news and digital media goes as described below:
Jonathan Harmsworth
The Daily Mail and General Trust (DGMT) was acquired for £1.6 billion by Jonathan Harmsworth, who was one of the co-founders.
The Barclay Brothers
In 2004, the famous billionaire twins David and Frederick Barclay acquired the Telegraph brands and the Spectator magazine.
Mark Zuckerberg
Facebook's owner, CEO Mark Zuckerberg purchased two digital media, such as Instagram in 2012 worth $1 billion and WhatsApp in 2014 for $16 billion.
Jeff Bezos
In 2013, Amazon founder Jeff Bezos acquired the Washington Post for $250 million. At the time, the Washington Post was not making a profit. At that time, Jeff Bezos described the business model as something upside-down.
Elon Musk
Recently, only a couple of weeks ago, the world’s richest person closed a deal to acquire Twitter for $44 billion, floating to unleash its potential to advance free speech around the world.
Bringing it altogether
Top billionaires and big corporate owners continue to acquire news and digital media, including social media businesses.
The top corporate owners utilize the acquired news and social media for promoting their businesses and narratives to the common mass.
Corporate owners utilize the news and social media to control political opinions and extend control over the ruling political powers around the globe.
The corporate owners want to exercise an extra level of political power.
We, the common mass, are free to hope that the corporate owners of the news and social media will implement noble changes for the future of the globe.
Unfortunately, the reality is not showing anything close to that.
Cross-refer relevant posts by me:
"Why Elon Musk Acquires Twitter"
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Unite and Empower Humanity.
May 05, 2022.
If I will given a chance to be a billionaire I would rather invest my money or build companies that helps the poor people and to preserved Mother nature. Anyway that's there choice where to put they money's or what they will buy I hope they use social media and news properly.