Salesforce co-founder Marc Benioff and his philanthropist wife Lynne Benioff have bought Time Magazine soon after Meredith Corp. announced they were selling the publication, completing the sale at a staggering $190 million in cash.
While the Benioffs are purchasing Time personally and the transaction is unrelated to Salesforce.com, Meredith revealed that they would not be involved in the day-to-day operations or journalistic decisions at the publication.
Time’s current executive leadership team will continue to make these decisions and the announcement stated that: ‘We’re pleased to have found such passionate buyers in Marc and Lynne Benioff for the Time brand.
Meredith president and CEO Tom Harty said: ‘For over 90 years, Time has been at the forefront of the most significant events and impactful stories that shape our global conversation.’ But what is Marc Benioff’s net worth?
Marc Benioff speaks at the opening of the Salesforce Tower, tallest building in San Francisco
Who is Marc Benioff?
Marc Benioff is the Chairman, co-CEO and co-founder of Salesforce and under his…