Key Dem Donor Takes Over 'Country's Most Important' Journalistic Institution

(Photo by Stephen Lam/Getty Images)
July 28, 2017

A high-powered Democratic donor is taking over one of America’s most storied magazines.

Emerson Collective "has agreed to acquire majority ownership of The Atlantic," a press release from the magazine Friday announced. Emerson Collective is an organization founded and run by Laurene Powell Jobs.

The new magazine owner heralded her latest purchase as a "privilege," saying that she'll "become a steward of The Atlantic, one of the country's most important and enduring journalistic institutions."

A staff member of Emerson Collective, Peter Lattman, was immediately named The Atlantic's vice chairman.

Jobs has given millions to the Democratic Party and its politicians over the years. In 2016 alone, Powell personally gave $2 million to the Senate Majority super PAC, over $130,000 to the DNC Services Corp, $33,400 to the Democratic Senatorial Committee, as well as numerous state Democratic parties and politicians.

The wealthy Jobs also was a big booster of failed Democratic presidential candidate Hillary Clinton, giving $25,000 to the Ready for Hillary super PAC, which encouraged Clinton to jump in the race in the first place.

Jobs heralded Clinton as "revolutionary" in a 2015 piece she authored for Time magazine's 100 list. "She is one of America’s greatest modern creations," Jobs gushed. She hosted a fundraiser for Clinton in 2016—an intimate dinner for 20 donors—which brought in a whopping $4 million.

Jobs is the widow of Apple founder Steve Jobs, who died in 2011 after a long battle with pancreatic cancer. She is believed to be worth in excess of $20 billion, according to Forbes.

The magazine boasts a circulation of 530,000 and over 30 million unique digital visitors.

Emerson Collective has also invested in journalist startup Axios, the Wall Street Journal reports.

Published under: Media , The Atlantic