I’m biased, but it sure seems like investing in opinion journalism is something that smart rich guys do a lot more of than you might think.
Bezos, for example, owns the Washington Post. Gates founded Slate and MSNBC. Carlos Slim rescued the New York Times. They aren’t getting rich off these investments, of course. But if your goal is to protect your wealth, there are few more direct ways to mold the climate of opinion than to invest in opinion journalism.
For example, say you make inordinate profits by squeezing illegal aliens by charging them exorbitant fees for their phone calls to their loved ones in Mexico. And say you married into a genuine Fascist clan. But you’d rather that Americans talked about something else, like how the Russians spent One Hundred Thousand Dollars on Facebook ads. If so, bailing out the New York Times for a few hundred million bucks is a smart investment.