The CEO of US-based Luminaire Technologies has acquired 82% ownership of the publisher of Forbes, valuing the company at approximately $800 million.
Successful entrepreneurs have been making moves to acquire long-standing media companies, and with the spread of the internet, it has become easier to acquire tech entrepreneurs.
After the acquisition, there are cases where they distance themselves from day-to-day management while sharing and utilizing expertise in digital technology to bolster their operations.
