Staff Reports
Former Republican presidential candidate Vivek Ramaswamy may have left the political stage, but he’s making waves in the business world. Investors are taking notice of his recent investment in BuzzFeed, a media company famous for its viral internet culture content.
Ramaswamy purchased a 7.7% activist stake in BuzzFeed, causing the company’s stock to soar up to 50% before settling at a 25% increase. SEC filings revealed that Ramaswamy sees the company’s stock as undervalued and a smart investment opportunity. Additionally, he plans to engage with the company’s board of directors to discuss potential changes in strategy to maximize shareholder value.
The move comes as a surprise, given Ramaswamy’s past criticisms of the media. However, it reflects a potential shift in his perspective, especially considering his previous support for former President Trump during the Republican primary. Despite challenging Trump, Ramaswamy maintained his popularity among Trump supporters and even emerged as a potential vice presidential nominee for the former president.
This development echoes Trump’s influence in the business world, as evidenced by the relative success of his media venture, Truth Social. Despite financial struggles, supporters continue to invest in the platform, showing their faith in the former president’s endeavors.
Ramaswamy’s investment in BuzzFeed and its subsequent market impact underscores the growing influence of conservative figures in the media and business spheres. It also reflects a broader trend of right-leaning individuals seeking to shape the narrative and direction of mainstream media outlets, a notable development in today’s political and economic landscape.
