Why Marc Benioff Bought Time Magazine [Forbes]
Salesforce, Inc. (CRM)
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Source: Forbes
Marc Benioff, the founder and CEO of Salesforce.com, recently made the news with his announcement that he and his wife, Lynne Benioff, are to buy the distressed Time magazine, plunking down a little $190 million fortune for it. To explain why, Benioff conducted a text message exchange with The New York Times while he was getting a massage. The image some readers conjured upon reading this is of an out-of-touch-with-reality CEO. But that idea does him a disservice. Benioff has been one of the primary players in Silicon Valley to fight and advocate for a business' responsibility in positively impact the world. Business, Benioff demonstrated, doesn’t have to be at odds with giving back to a community. He is most well-known for the 1-1-1 Model of Integrated Philanthropy he instituted at Salesforce and which many companies have subsequently copied. That philosophy is core to the company. His executive team is responsible for adopting a public school of their choosing and ac
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