Recent filings show progressive billionaire George Soros has purchased $3 million worth of stock holdings in the New York Times.
“Soros’s stock buy included 126,400 shares in the New York Times Company through Soros Fund Management LLC, the billionaire’s New York City-based investment firm. The shares were valued at $3,046,000 at the time of purchase and are shown in a May 15 filing to the U.S. Securities and Exchange Commission (SEC),” reports the Free Beacon.
Media Research Center’s Dan Gainor says industry watchers shouldn’t dismiss the investment despite its modest sum.
“Soros has long had influence or given direct funding to a wide range of journalism operations from NPR to ProPublica,” said Gainor, adding, “This is still a big step to be buying a $3-million stake in the top liberal outlet in America.”
Soros Fund Management, the 87-year-old’s primary investment vehicle, was recently revealed to have secretly backed SF Bloodstock and SF Racing Group, who own 15 percent of the breeding rights for Justify, the Triple Crown horse.
In October 2017, the progressive billionaire transferred $18 billion to Open Society Foundations, the global grantmaking network which champions left-wing causes ranging from mass migration to climate change advocacy.