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Amazon.com Founder Buys Washington Post

By: Associated Press Email
By: Associated Press Email
Amazon.com founder Jeff Bezos is buying The Washington Post and other newspapers for $250 million.

No. 3: Jeff Bezos Net Worth: $25.2 billionJeff Bezos' Amazon.com is the world's largest internet retailer of any kind, reporting more than $61 billion in 2012 sales, up $13 billion from the previous year. A 40% surge in the price of the company's stock added $6.8 billion to Bezos' net worth over the past year. The Seattle-based company continues to separate from the pack on service and speed, adding 20 new shipment hubs in 2012.

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August 5, 2013

Amazon.com founder Jeff Bezos is buying The Washington Post and other newspapers for $250 million.

The longtime publisher, The Washington Post Co., announced the deal Monday. Bezos is buying the paper as an individual. Amazon.com Inc. is not involved.

Washington Post chairman and CEO Donald Graham called Bezos a "uniquely good new owner." He said the decision was made after years of newspaper industry challenges. The company, which owns the Kaplan education business and several TV stations, will change its name but didn't say what the new name will be.

Bezos said in a statement that he understands the Post's "critical role" in Washington and said its values won't change.


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