Yahoo Finance ‘Anti-Woke’ Republican Vivek Ramaswamy Buys Stake in Buzzfeed to ‘Shift’ Company’s Strategy: ‘Stay Tuned’
The former GOP presidential candidate, a far-right biotech entrepreneur, is now a minority shareholder in the left-leaning digital media company
Vivek Ramaswamy, the "anti-woke" tech entrepreneur who sought the 2024 Republican presidential nomination, is now a minority Buzzfeed shareholder, according to a regulatory filing from Tuesday, May 21.
The filing shows that the far-right lawmaker, 38, now owns a 7.7% stake in the left-leaning media company after purchasing 2.7 million shares.
In the filing, Ramaswamy explains that he believes Buzzfeed's stock is "undervalued" and represents "an attractive investment opportunity."
As a result, he adds in the filing that he desires to discuss "numerous operational and strategic opportunities to maximize shareholder value, including a shift in the Company's strategy" with Buzzfeed's board and management.
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Vivek Ramaswamy speaking at a January 2024 eventThe news is noteworthy given Ramaswamy's strong views, including public criticism of critical race theory, self-victimization, climate change efforts and diversity programs. He has also spoken out against companies using their platforms for social causes.
Some of his beliefs are also further elaborated in his 2021 New York Times best-selling book, Woke, Inc.: Inside Corporate America's Social Justice Scam, and his 2022 follow-up, Nation of Victims: Identity Politics, the Death of Merit, and the Path Back to Excellence.
Related: Nikki Haley Slams Vivek Ramaswamy After He Brings Up Her Daughter at GOP Debate: ‘You’re Just Scum’
While Ramaswamy has not spoken out about the Buzzfeed investment, his spokesperson told CNBC, "Stay tuned."
According to Quartz, the news caused Buzzfeed's stock to rise over 50% during pre-market trading on Wednesday, May 22, and reach an intraday high of $4.56. The investment comes more than a year after the company shut down its news unit and laid off 15% of staff, approximately 180 people, in April 2023, per CNBC.
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Vivek Ramaswamy at a Republican presidential primary debate in December 2023Ramaswamy's long-shot presidential aspirations put him at the center of headlines in 2023. After finishing fourth in Iowa's Republican caucuses in January, he announced that he was suspending his 2024 campaign and offering his "full endorsement" to Donald Trump.
Ramaswamy was quickly considered a potential running mate pick for Trump, though a March report from Bloomberg cited sources who said he is instead being considered for a Cabinet position should the former president return to the White House.
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