eBay's founder just dropped $100 million to fight fake news
Pierre Omidyar is putting his money where his mouth is — again.
The eBay founder has pledged a fresh $100 million in his ongoing efforts to fight the spread of "fake news" and hate speech.
The contribution comes through his philanthropic fund, the Omidyar Network, and will go to a variety of organizations. The first to benefit will be the International Consortium of Investigative Journalists (ICIJ), which will receive up to $4.5 million over the next three years.
“Across the world, we see a worrying resurgence of authoritarian politics that is undermining progress towards a more open and inclusive society,” Omidyar Network Managing Partner Matt Bannick said in a press release.
Omidyar has established himself as one of the more outspoken and active philanthropists regarding news and information. Worth more than $8 billion thanks to his founding of eBay and interest in PayPal, he founded First Look Media, which includes The Intercept. He also founded Peer News, which launched the award-winning Honolulu Civic Beat.
In addition to the ICIJ, the Anti-Defamation League and Alianza Latinoamericana para la Tecnología Cívica (an organization started by the Omidyar Network to bolster innovation in Latin America) are among the first organizations to be in line for funding.
Stephen King, head of civic engagement at the Omidyar Network, told the Washington Post that Omidyar's $100 million contribution is the "largest ever" of its kind.
Jason Abbruzzese is a Business Reporter at Mashable. He covers the media and telecom industries with a particular focus on how the Internet is changing these markets and impacting consumers. Prior to working at Mashable, Jason served as Markets Reporter and Web Producer at the Financial Times. Jason holds a B.S. in Journalism from Boston University and an M.A. in International Affairs from Australian National University.
