The billionaire-media complex
Judd Legum
Oct 28
Owner Jeff Bezos spreads his hands after a ceremonial ribbon cutting during dedication ceremonies for the new Washington Post offices on January, 28, 2016 in Washington, DC. (Photo by Bill O'Leary/The Washington Post via Getty Images)
Jeff Bezos is the second-richest person in the world, with a net worth of approximately $211 billion. Most of Bezos' wealth is derived from his 9% stake in Amazon, the company he founded. Bezos also founded and owns Blue Origin, a private space exploration company worth billions.
Bezos also owns the Washington Post, which he purchased in 2013 for $250 million in cash. Is Bezos now making decisions at the Washington Post to protect and enhance the value of his other enterprises? Many current and former employees of the Washington Post believe so.
The business interests of Amazon and Blue Origin — and, therefore, Bezos — are inextricably linked to the federal government. Consider:
In 2021, Amazon was awarded a $10 billion cloud-computing contract with the National Security Agency. It also has a portion of a $9 billion cloud-computing contract inked in 2022 with the Department of Defense and a multi-billion dollar cloud-computing contract with the CIA.
In 2023, the Federal Trade Commission sued Amazon, alleging "the online retail and technology company is a monopolist that uses a set of interlocking anticompetitive and unfair strategies to illegally maintain its monopoly power." The lawsuit seeks "a permanent injunction in federal court that would prohibit Amazon from engaging in its unlawful conduct and pry loose Amazon’s monopolistic control to restore competition."
In May 2023, Blue Origin was awarded a $3.4 billion contract to build a lunar lander for NASA. Between 2025 and 2029, the company is expected to compete for $5.6 billion in space launch contracts for the Pentagon.
The Washington Post, unlike Amazon and Blue Origin, has been a money loser for Bezos, reportedly running a deficit of $100 million last year. More importantly, Bezos believes that former President Trump's hostility toward the Washington Post, which produced critical coverage of Trump's presidency, cost his companies billions in government contracts. In 2019, Amazon sued the federal government for awarding a $10 billion cloud-computing contract to Microsoft, alleging that Amazon lost out on the contract based on Bezos' ownership of the Washington Post:
President Trump has made no secret of his personal dislike for Mr. Bezos, Amazon, and the Washington Post, or of his express desire to harm them. The seeds of this animus originate with the Washington Post's coverage of him before he even was elected President. That coverage placed Mr. Bezos, Amazon, and the Washington Post directly in the crosshairs of President Trump's wrath.
…After he assumed office, President Trump grew "obsessed" with Mr. Bezos and determined to "f'*** with him." His new powers expanded his ability to punish Mr. Bezos for the Washington Post's coverage of him
…President Trump has frequently referred to the "Amazon Washington Post" as a single entity, and he has frequently hurled invective against Amazon whenever the Washington Post publishes articles that he believes slight him or his Administration. President Trump has also repeatedly claimed the Washington Post is selling "fake news," and he has called it an "[e]nemy of the [p]eople[.]"
In a few months, it is possible that Trump will be president again. This time, Bezos faces an even more acute threat to his business interests. Elon Musk, who owns Blue Origin's chief rival SpaceX, has aligned himself closely with Trump, spending tens of millions in support of Trump's campaign and making appearances in swing states on Trump's behalf.
On Friday, days before the election, Washington Post publisher William Lewis — installed by Bezos earlier this year — announced that "the Washington Post will not be making an endorsement of a presidential candidate in this election." The announcement, less than 2 weeks before Election Day, was a break from decades of precedent. Bezos made the decision, according to the New York Times, after the Washington Post "editorial board had already drafted an endorsement of Vice President Kamala Harris."
Marty Baron, the former Executive Editor of the Washington Post, slammed Bezos' decision as "cowardice" and linked it to Bezos' desire to appease Trump. Baron said it would backfire, and Trump would "see this as an invitation to further intimidate owner [Bezos]."
Hours after Lewis published the announcement, Trump was seen meeting with Blue Origin CEO David Limp. Steven Cheung, the Trump campaign's chief spokesman, embraced the suggestion that the meeting and the announcement of the non-endorsement were linked.
Robert Kagan, who worked at the Washington Post for two decades and resigned immediately following Lewis' announcement, said the meeting was evidence of a quid pro quo. “Trump waited to make sure that Bezos did what he said he was going to do, and then met with the Blue Origin people,” Kagan told The Daily Beast. “Which tells us that there was an actual deal made, meaning that Bezos communicated, or through his people, communicated directly with Trump, and they set up this quid pro quo.”
According to CNN, "Amazon CEO Andy Jassy also recently reached out to check in" with Trump.
The apparent capitulation to Trump illustrates the danger of billionaires scooping up major media organizations as a side hustle. For nearly everyone, the price Bezos paid for the Washington Post is an unfathomable amount of money. For Bezos, it's less than half the $575 million he paid for his new 417-foot superyacht, Koru, and its 246-foot support yacht, Abeona, which has a helipad, accommodations for staff, and storage for smaller boats and jet skis.
Bezos did not get to the point where he could afford such yachts through his dedication to journalistic integrity. He became the second-wealthiest person in the world by prioritizing the bottom line. And it appears that continues to be his priority.
The Washington Post's incoherent defense
Lewis claims that the decision not to endorse a presidential candidate was based on principle. Specifically, Lewis says the decision was guided by the belief that the Washington Post's mission "is to provide through the newsroom nonpartisan news for all Americans, and thought-provoking, reported views from our opinion team to help our readers make up their own minds."
Lewis doesn't explain why, if that was the case, the Washington Post editorial board endorsed candidates for U.S. Senate and House earlier this month. If it is about the principle that readers should "make up their own minds," why does that principle only apply to presidential candidates?
Further, Lewis tried to insulate Bezos from the fallout. The Washington Post reported that the "decision to no longer publish presidential endorsements was made by The Post’s owner, Amazon founder Jeff Bezos, according to four people who were briefed on the decision."
Lewis attempted to undermine his own paper's reporting, claiming that "[r]eporting around the role of The Washington Post owner and the decision not to publish a presidential endorsement has been inaccurate." But Lewis did not directly dispute that it was Bezos' decision. Instead, he said only that Bezos "was not sent, did not read and did not opine on any draft" — a claim that no one actually made.
Washington Post staff was not buying it. 17 members of the paper's opinion staff signed onto a statement calling the decision not to endorse a "terrible mistake." The Washington Post Guild, the union that represents the paper's reporters, said in a statement that the decision "undercuts the work of our members at a time when we should be building our readers’ trust, not losing it." Legendary Washington Post journalists Carl Bernstein and Bob Woodward called the decision "surprising and disappointing, especially this late in the electoral process."
One could legitimately conclude that newspaper endorsements have outlived their usefulness. It is the timing and context of the Washington Post's change that is raising alarm bells.
The billionaire owner of the LA Times
Patrick Soon-Shiong, the billionaire owner of the LA Times, also abruptly demanded his publication stay neutral in the presidential election. Soon-Shiong bought the paper for $500 million in 2018.
Soon-Shiong is a healthcare and biotech entrepreneur whose companies rely on the federal government. His companies regularly seek FDA approval for new drugs, vaccines and therapies and federal funding for research.
The editorial board had planned to endorse Kamala Harris and publish a series of columns tentatively titled "The Case Against Trump." But in a post on X, Soon-Shiong said he offered the LA Times editorial board "the opportunity to draft a factual analysis of all the POSITIVE AND NEGATIVE policies by EACH candidate during their tenures at the White House, and how these policies affected the nation." Soon-Shiong said that "nstead of adopting this path as suggested, the Editorial Board chose to remain silent and I accepted their decision."
Soon-Shiong did not explain why he did not demand a similar approach for U.S. House and Senate races, state ballot initiatives, and many other contests facing California voters. Beginning in September, the LA Times has endorsed in dozens of races up and down the ballot.
In response to the spiking of the presidential endorsement, 200 LA Times staff members signed an open letter calling on Soon-Shiong to "provide readers with an explanation for not issuing an endorsement, along with clarity about the broader endorsement process."
Three members of the paper's editorial board have resigned. "I am resigning because I want to make it clear that I am not okay with us being silent," Mariel Garza, the LA Times editorials editor, said. "In dangerous times, honest people need to stand up. This is how I’m standing up."
Judd Legum
Oct 28
Owner Jeff Bezos spreads his hands after a ceremonial ribbon cutting during dedication ceremonies for the new Washington Post offices on January, 28, 2016 in Washington, DC. (Photo by Bill O'Leary/The Washington Post via Getty Images)
Jeff Bezos is the second-richest person in the world, with a net worth of approximately $211 billion. Most of Bezos' wealth is derived from his 9% stake in Amazon, the company he founded. Bezos also founded and owns Blue Origin, a private space exploration company worth billions.
Bezos also owns the Washington Post, which he purchased in 2013 for $250 million in cash. Is Bezos now making decisions at the Washington Post to protect and enhance the value of his other enterprises? Many current and former employees of the Washington Post believe so.
The business interests of Amazon and Blue Origin — and, therefore, Bezos — are inextricably linked to the federal government. Consider:
In 2021, Amazon was awarded a $10 billion cloud-computing contract with the National Security Agency. It also has a portion of a $9 billion cloud-computing contract inked in 2022 with the Department of Defense and a multi-billion dollar cloud-computing contract with the CIA.
In 2023, the Federal Trade Commission sued Amazon, alleging "the online retail and technology company is a monopolist that uses a set of interlocking anticompetitive and unfair strategies to illegally maintain its monopoly power." The lawsuit seeks "a permanent injunction in federal court that would prohibit Amazon from engaging in its unlawful conduct and pry loose Amazon’s monopolistic control to restore competition."
In May 2023, Blue Origin was awarded a $3.4 billion contract to build a lunar lander for NASA. Between 2025 and 2029, the company is expected to compete for $5.6 billion in space launch contracts for the Pentagon.
The Washington Post, unlike Amazon and Blue Origin, has been a money loser for Bezos, reportedly running a deficit of $100 million last year. More importantly, Bezos believes that former President Trump's hostility toward the Washington Post, which produced critical coverage of Trump's presidency, cost his companies billions in government contracts. In 2019, Amazon sued the federal government for awarding a $10 billion cloud-computing contract to Microsoft, alleging that Amazon lost out on the contract based on Bezos' ownership of the Washington Post:
President Trump has made no secret of his personal dislike for Mr. Bezos, Amazon, and the Washington Post, or of his express desire to harm them. The seeds of this animus originate with the Washington Post's coverage of him before he even was elected President. That coverage placed Mr. Bezos, Amazon, and the Washington Post directly in the crosshairs of President Trump's wrath.
…After he assumed office, President Trump grew "obsessed" with Mr. Bezos and determined to "f'*** with him." His new powers expanded his ability to punish Mr. Bezos for the Washington Post's coverage of him
…President Trump has frequently referred to the "Amazon Washington Post" as a single entity, and he has frequently hurled invective against Amazon whenever the Washington Post publishes articles that he believes slight him or his Administration. President Trump has also repeatedly claimed the Washington Post is selling "fake news," and he has called it an "[e]nemy of the [p]eople[.]"
In a few months, it is possible that Trump will be president again. This time, Bezos faces an even more acute threat to his business interests. Elon Musk, who owns Blue Origin's chief rival SpaceX, has aligned himself closely with Trump, spending tens of millions in support of Trump's campaign and making appearances in swing states on Trump's behalf.
On Friday, days before the election, Washington Post publisher William Lewis — installed by Bezos earlier this year — announced that "the Washington Post will not be making an endorsement of a presidential candidate in this election." The announcement, less than 2 weeks before Election Day, was a break from decades of precedent. Bezos made the decision, according to the New York Times, after the Washington Post "editorial board had already drafted an endorsement of Vice President Kamala Harris."
Marty Baron, the former Executive Editor of the Washington Post, slammed Bezos' decision as "cowardice" and linked it to Bezos' desire to appease Trump. Baron said it would backfire, and Trump would "see this as an invitation to further intimidate owner [Bezos]."
Hours after Lewis published the announcement, Trump was seen meeting with Blue Origin CEO David Limp. Steven Cheung, the Trump campaign's chief spokesman, embraced the suggestion that the meeting and the announcement of the non-endorsement were linked.
Robert Kagan, who worked at the Washington Post for two decades and resigned immediately following Lewis' announcement, said the meeting was evidence of a quid pro quo. “Trump waited to make sure that Bezos did what he said he was going to do, and then met with the Blue Origin people,” Kagan told The Daily Beast. “Which tells us that there was an actual deal made, meaning that Bezos communicated, or through his people, communicated directly with Trump, and they set up this quid pro quo.”
According to CNN, "Amazon CEO Andy Jassy also recently reached out to check in" with Trump.
The apparent capitulation to Trump illustrates the danger of billionaires scooping up major media organizations as a side hustle. For nearly everyone, the price Bezos paid for the Washington Post is an unfathomable amount of money. For Bezos, it's less than half the $575 million he paid for his new 417-foot superyacht, Koru, and its 246-foot support yacht, Abeona, which has a helipad, accommodations for staff, and storage for smaller boats and jet skis.
Bezos did not get to the point where he could afford such yachts through his dedication to journalistic integrity. He became the second-wealthiest person in the world by prioritizing the bottom line. And it appears that continues to be his priority.
The Washington Post's incoherent defense
Lewis claims that the decision not to endorse a presidential candidate was based on principle. Specifically, Lewis says the decision was guided by the belief that the Washington Post's mission "is to provide through the newsroom nonpartisan news for all Americans, and thought-provoking, reported views from our opinion team to help our readers make up their own minds."
Lewis doesn't explain why, if that was the case, the Washington Post editorial board endorsed candidates for U.S. Senate and House earlier this month. If it is about the principle that readers should "make up their own minds," why does that principle only apply to presidential candidates?
Further, Lewis tried to insulate Bezos from the fallout. The Washington Post reported that the "decision to no longer publish presidential endorsements was made by The Post’s owner, Amazon founder Jeff Bezos, according to four people who were briefed on the decision."
Lewis attempted to undermine his own paper's reporting, claiming that "[r]eporting around the role of The Washington Post owner and the decision not to publish a presidential endorsement has been inaccurate." But Lewis did not directly dispute that it was Bezos' decision. Instead, he said only that Bezos "was not sent, did not read and did not opine on any draft" — a claim that no one actually made.
Washington Post staff was not buying it. 17 members of the paper's opinion staff signed onto a statement calling the decision not to endorse a "terrible mistake." The Washington Post Guild, the union that represents the paper's reporters, said in a statement that the decision "undercuts the work of our members at a time when we should be building our readers’ trust, not losing it." Legendary Washington Post journalists Carl Bernstein and Bob Woodward called the decision "surprising and disappointing, especially this late in the electoral process."
One could legitimately conclude that newspaper endorsements have outlived their usefulness. It is the timing and context of the Washington Post's change that is raising alarm bells.
The billionaire owner of the LA Times
Patrick Soon-Shiong, the billionaire owner of the LA Times, also abruptly demanded his publication stay neutral in the presidential election. Soon-Shiong bought the paper for $500 million in 2018.
Soon-Shiong is a healthcare and biotech entrepreneur whose companies rely on the federal government. His companies regularly seek FDA approval for new drugs, vaccines and therapies and federal funding for research.
The editorial board had planned to endorse Kamala Harris and publish a series of columns tentatively titled "The Case Against Trump." But in a post on X, Soon-Shiong said he offered the LA Times editorial board "the opportunity to draft a factual analysis of all the POSITIVE AND NEGATIVE policies by EACH candidate during their tenures at the White House, and how these policies affected the nation." Soon-Shiong said that "nstead of adopting this path as suggested, the Editorial Board chose to remain silent and I accepted their decision."
Soon-Shiong did not explain why he did not demand a similar approach for U.S. House and Senate races, state ballot initiatives, and many other contests facing California voters. Beginning in September, the LA Times has endorsed in dozens of races up and down the ballot.
In response to the spiking of the presidential endorsement, 200 LA Times staff members signed an open letter calling on Soon-Shiong to "provide readers with an explanation for not issuing an endorsement, along with clarity about the broader endorsement process."
Three members of the paper's editorial board have resigned. "I am resigning because I want to make it clear that I am not okay with us being silent," Mariel Garza, the LA Times editorials editor, said. "In dangerous times, honest people need to stand up. This is how I’m standing up."
