INTENTIONS UNKNOWN

Vivek Ramaswamy Buys an Activist Stake in BuzzFeed for Some Reason

The “anti-woke” firebrand said in the filing that he intends to consult management of the company on things like strategy and even changes to ownership.

Former Republican presidential candidate and biotechnology mogul Vivek Ramaswamy spent nearly $4 million to buy an activist stake in BuzzFeed, according to a regulatory filing reported by HuffPost, which is owned by the digital publisher. The “anti-woke” firebrand said in the filing that he intends to consult management of the company on things like strategy and even changes to ownership, raising questions about what his intentions are. In all, he will own 7.7% of the company’s shares, which spiked more than 50% in pre-market trading after news of Ramaswamy’s purchase broke. He made the purchase with personal funds, the filing stated. BuzzFeed CEO Jonah Peretti currently owns the controlling stake—and announced last week that he would be tying much of the executive team’s compensation to stock performance. Ramaswamy washed out of the crowded Republican primary race back in January after a lukewarm reception by voters—and quickly endorsed presumptive nominee Donald Trump. During his short political career, he became known for his rapid embrace of a number of conspiracy theories, including the antisemitic “Great Replacement Theory” and the idea that the Jan. 6 Capitol riot was an “inside job” masterminded by federal authorities.