The majority owner of The Atlantic, which published a story on Sept. 3 claiming President Donald Trump has disparaged fallen Americans soldiers, happens to be a huge donor of Democratic presidential nominee Joe Biden and the political committees.
Billionaire philanthropist Laurene Powell Jobs, the widow of former Apple CEO Steve Jobs has been investing in the media through her firm Emerson Collective that she started in 2004. She has invested in Axios and Gimlet and has bought the Atlantic and the California Sunday Magazine, which also produces the influential Pop-Up Magazine.
Powell Jobs holds a 70% stake in The Atlantic and has further solidified her control over the magazine after its longtime chairman stepped away from management.
Powell Jobs has been a huge donor to Democratic candidates. She backed Hillary Clinton in 2016, donating $2 million to her super PAC and hosting a $200,000-a-plate fundraiser that raised over $4 million, CCN reported.
Powell Jobs has also donated over $1.2 million to Biden and other Democratic candidates and groups since 2019, according to Federal Election Commission records, reported the Daily Caller.
The billionaire reportedly communicated often with The Atlantic’s Editor-in-Chef Jeffrey Goldberg who published the bombshell on Thursday alleging that President Trump called fallen soldiers “losers” and “suckers” during a 2018 trip to France.
Biden and his fellow Democrats immediately seized upon the story. Biden on Friday declared President Trump “unfit” for the presidency.
“I’ve just never been as disappointed, in my whole career, with a leader that I’ve worked with, president or otherwise,” Biden told reporters. “If the article is true—and it appears to be, based on other things he’s said—it is absolutely damning. It is a disgrace.”
“The president should humbly apologize to every Gold Star mother and father, to every Blue Star family that he’s denigrated. … Who the heck does he think he is?” Biden added.
The Biden campaign on Friday released a video on social media attacking President Trump. “Mr. President, if you don’t respect our troops, you can’t lead them,” Biden said.
Mr. President, if you don’t respect our troops, you can’t lead them. pic.twitter.com/hcX9hGgdm5
— Joe Biden (@JoeBiden) September 4, 2020
President Trump and multiple high-level administration officials denied the accusation in Goldberg’s story, saying it was a “fake story.”
“It was a terrible thing that somebody could say the kind of things—and especially to me ’cause I’ve done more for the military than almost anyone anybody else,” he said in the Oval Office.
It’s unclear if Powell Jobs had any involvement in the anonymously sourced story.
Powell Jobs inherited millions of shares in Apple and Disney from her late husband, Apple cofounder Steve Jobs, after he died in 2011. Last year, Apple and other companies were hit by President Trump’s orders for U.S. companies to cut ties with China during his trade war with the Chinese Communist Party (CCP).
“The vast amounts of money made and stolen by China from the United States, year after year, for decades, will and must STOP,” Trump tweeted. “Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing your companies HOME and making your products in the USA.”
….better off without them. The vast amounts of money made and stolen by China from the United States, year after year, for decades, will and must STOP. Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing..
— Donald J. Trump (@realDonaldTrump) August 23, 2019
Following the president’s tariffs policies against the CCP, shares of Apple fell almost 5%, reducing the net worth of Laurene Powell Jobs by $367 million to $20.9 billion. The China market is significant to Apple, representing $9.16 billion of the tech giant’s sales in the third quarter of 2019, according to Forbes.