Facebook Co-Founder Taps Into Skyrocketing $600M Net Worth, Buys The New Republic

http://www.forbes.com/sites/briansolomon/2012/03/09/facebook-co-founder-uses-skyrocketing-net-worth-to-buy-the-new-republic/

Facebook co-founder Chris Hughes’ net worth has soared as the company he helped start in a Harvard dorm room raked in hundreds of millions of users. Facebook filed for an IPO at the start of February and Hughes’ minority stake in the company is worth at least $600 million — and possibly much more when it finally goes public.

While he has long been active in political and social causes, Hughes made a big splash Friday morning when he announced the purchase of a majority share of The New Republic, the Washington D.C.-based politics and arts magazine with a liberal bent. Exact terms of the deal were not released, but the ownership stake is less than 100 percent.