BuzzFeed Shares Soar as Vivek Ramaswamy Takes Stake, Seeks Talks

Vivek Ramaswamy News

BuzzFeed Shares Soar as Vivek Ramaswamy Takes Stake, Seeks Talks
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(Bloomberg) -- BuzzFeed Inc. shares soared early Wednesday after the entrepreneur and former US presidential candidate Vivek Ramaswamy reported a stake in...

— BuzzFeed Inc. shares soared early Wednesday after the entrepreneur and former US presidential candidate Vivek Ramaswamy reported a stake in the online media company and asked for talks with the board.‘It Felt Like We Had Crashed’: Singapore Air Passenger Describes Turbulence TerrorRamaswamy, who ended his candidacy in January and threw his support behind Donald Trump , has taken a 7.7% stake in BuzzFeed, worth about $6.81 million based on Tuesday’s closing share price.

Ramaswamy founded pharmaceutical company Roivant Sciences Ltd. in 2014, and co-founded Strive Asset Management in 2022. He stepped away from the asset management firm last year to focus on his presidential run and has said he isn’t returning. Ramaswamy’s position in BuzzFeed marks his latest move since ending his political campaign.

Trump Media and Technology Group, the company affiliated with former U.S. president Donald Trump that operates Truth Social, reported $770,500 in revenue for the first quarter of 2024 and a net loss of $327.6 million. Shares in Sarasota, Fla.-based TMTG — which says it is a “safe harbor for free expression amid increasingly harsh censorship … -- A coalition of Tesla Inc.

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