Salesforce founder buys Time for $190M

"This fall’s must-have accessory for billionaires: An esteemed publication that‘s recently had a rough go of it." – Laura Nelson

Time Magazine just found a new $190M home. 📰

Salesforce founder Marc Benioff and his wife, Lynne Benioff, just acquired the publication, less than a year after it was acquired by American media conglomerate Meredith Corporation.

Benioff isn't the first billionaire to purchase his own media publication. Jeff Bezos purchased The Washington Post in 2014, Patrick Soon-Shiong purchased the Los Angeles Times earlier this year, and Laurene Powell purchased a controlling interest in The Atlantic in 2017.

"The power of Time has always been in its unique storytelling of the people & issues that affect us all & connect us all. A treasure trove of our history & culture. We have deep respect for their organization & honored to be stewards of this iconic brand." –Marc Benioff

Lately, tech CEOs have been under heavy scrutiny as their platforms (read: Twitter, Facebook, Google) heavily influence the spread of information. They control the pipes and now more of them are owning the the content as well. Which publication is next? 🤔

It's easier than ever to start monetizing your own #content. Substack and Revue let anyone build their own paid newsletter list in minutes. Although they won’t help you sell to a billionaire CEO. 💌

Time for $190M