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Help Us, Tech Billionaires! Please Buy These DC-Area Institutions Next - Source Washingtonian

Posted on Oct 04,2017
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Please buy Metro. Photograph of Elon Musk by JD Lasica, via Flickr.

Source Washingtonian

BY ANDREW BEAUJON

WASHINGTON, DC. -
Laurene Powell Jobs’s purchase of a large interest in Monumental Sports & Entertainment will provide the billionaire with a great deal of influence over some of Washington’s most treasured institutions, including the Capitals, the Wizards, and the Mystics, as well as venues including Capital One Arena, Eagle Bank Arena, and Kettler Capitals Iceplex. In July, Powell Jobs’s Emerson Collective took joint ownership—and will eventually outright own—the Atlantic.

These developments follow Amazon honcho Jeff Bezos’s 2013 purchase of the Washington Post and Facebook co-founder Chris Hughes’s brief stewardship of the New Republic. While the latter acquisition didn’t go all that well, Bezos has by all accounts rescued the Post from a dismal decline and even restored some swash to the institution’s buckle. Powell Jobs has moved on organizations in much better shape, but her vast fortune and familiarity with the ways of successful West Coast tech titans may prove similarly transformative.

Source Washingtonian



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