What to do about it
Friends,
The richest man on earth owns X.
The family of the second-richest man owns Paramount, which owns CBS — and could soon own Warner Bros. Discovery, which owns CNN.
The third-richest man owns Facebook, Instagram, and WhatsApp.
The fourth-richest man owns The Washington Post and Amazon MGM Studios.
Another billionaire owns Fox News, The Wall Street Journal, and the New York Post.
Why are the ultra-rich buying up so much of the media? Vanity may play a part, but there’s a more pragmatic — some might say sinister — reason.
As vast wealth concentrates in the hands of a few, this small group of the ultra-wealthy may rationally fear that a majority of voters could try to confiscate their wealth — through, for example, a wealth tax.
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