Sarah Jacobs/Business Insider
- Facebook cofounder Chris Hughes ultimately made $ 500 million for helping his Harvard roommate Mark Zuckerberg build the company in its first three years.
- Hughes bought The New Republic magazine, a long-running liberal journal, in 2012, with hopes of making it a financially stable mainstream success.
- After investing $ 25 million into it and losing three quarters of his staff over editorial changes, the magazine barely added any readers, and he sold it in 2016.
- Hughes told us it taught him that ambitious goals should not require radical means to achieve them.
Chris Hughes was feeling at the top of his game in 2012. He cashed out his remaining stake in Facebook, the company he helped his Harvard roommate Mark Zuckerberg build in its early days, for a total of around $ 500 million when it went public in May. He also still had clout from his success as a digital strategist for Barack Obama’s 2008 presidential campaign.
And so in his new role as the owner of The New Republic magazine, which he bought for a couple million in March, he “came in guns blazing,” he told us in an interview for Business Insider’s podcast “Success! How I Did It.”See the rest of the story at Business Insider
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See Also:
- NASA astronaut Scott Kelly explains how seeing planet Earth from space changed his perspective on life
- The man who helped Stephen Hawking achieve his lifelong dream of experiencing zero gravity remembers what it was like to watch the acclaimed physicist break free of his wheelchair
- The 32-year-old who sold his first company for $ 80 million and a second for $ 2 billion talks about writing to Richard Branson, how he’s a terrible employee, and why he never intends to build companies to sell them
