Billionaire Laurene Powell Jobs' Emerson Collective is acquiring a majority stake in The Atlantic and will likely take ownership of the whole publication within the next three to five years. Jobs founded the Emerson Collective, which uses entrepreneurship to advance social reform and support education causes, in 2004. She also noted that one of the Atlantic's founders is Ralph Waldo Emerson, after whom the Emerson Collective is named. Jobs is purchasing the majority stake from Atlantic Media chairman David G. Bradley, who will retain ownership of Atlantic Media subsidiaries, Quartz, National Journal and Government Executive. Jobs joins a number of billionaires who bought media publications after acquiring their wealth from other sources.

Source: Forbes July 28, 2017 17:15 UTC