"Mr. Bezos, the chief executive of Amazon.com, is paying cash for The Washington Post out of his own personal wealth, currently estimated at more than $25 billion. The Post will cost him roughly 1 percent of what he owns in Amazon stock alone.Billionaires' Latest Trophies Are Newspapers - NYTimes.com
Some billionaires like cars, yachts and private jets. Others like newspapers.
“Newspapers have gone from the public markets to the hands of a relatively few billionaires who have an appetite for social, civic and financial roles,” Mr. Doctor said."
Tuesday, August 06, 2013
Billionaires' Latest Trophies Are Newspapers - NYTimes.com
Interesting times for the Fourth Estate