Being Citizen Kane
Bezos is not the first rich man to buy into newspapers. Warren Buffett, Carlos Slim and Jared Kushner invested large sums in struggling newspapers. Facebook co-founder Chris Hughes and entrepreneur Sidney Harman opened their checkbooks to keep magazines afloat (The New Republic and Newsweek, respectively). In Kane’s day, that’s how you made millions. Today, it’s a way lose money. But acquiring the Washington Post is a great way to get noticed in the nation’s capitol.