In the twentieth century, people could become wealthy philanthropists by publishing publications. Henry Luce and his associates raised $ 86,000 in 1923 to found Time magazine. When he died in 1967, he left a fortune of more than $ 100 million. Nowadays, wealthy philanthropists become media outlets and save publications like Luce’s.
On September 16, Marc Benioff, co-founder of Salesforce.com, a cloud software company, and his wife Lynne Benioff bought $ 190 million. They are the latest in a series of technology billionaires to invest in print journalism, followed by Jeff Bezos, the boss of Amazon, who bought the Washington Post in 2013, and Laurene Powell Jobs, Steve’s widow, Apple’s co-founder. , which had a dominant stake in the Atlantic last year. Everyone has a civic interest in supporting journalism rather than getting involved.