Marc Benioff, the 53-year-old entrepreneur and his wife, Lynne, agreed to pay $190 million in cash to Meredith Corp for the Time Magazine.
He stated that “we are honoured to be the caretakers of one of the world’s most important media companies and iconic brands, Time has always been a trusted reflection of the state of the world, and reminds us that business is one of the greatest platforms for change.”
He said they won’t be involved in day-to-day operations or journalistic decisions at the magazine and plan to keep its current leadership team in charge.
“The power of Time has always been in its unique storytelling of the people & issues that affect us all & connect us all. A treasure trove of our history & culture. We have a deep respect for their organization & honoured to be stewards of this iconic brand.” –Marc Benioff.
He has a net worth of $6.5 billion, serves as the co-chief executive officer of Salesforce, His company is the largest private employer in San Francisco.
The power of Time has always been in its unique storytelling of the people & issues that affect us all & connect us all. A treasure trove of our history & culture. We have deep respect for their organization & honored to be stewards of this iconic brand. https://t.co/OLie13YJ58
— Marc Benioff (@Benioff) September 17, 2018
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