(Marketwatch) Philanthropist and former hedge-fund executive David Magerman — not George Soros — was the initial donor behind an effort urging regulators to break up Facebook Inc. FB, -0.94% Axios reported Thursday. On Wednesday, a New York Times report said Facebook hired a Republican-linked public-relations firm that tried to tie billionaire Soros to funding the “Freedom from Facebook” campaign. Magerman confirmed to Axios that he was behind the campaign. He told Axios that Facebook had a “huge financial disincentive to protect users’ data,” and his goal was to get users to rethink their reliance on the social-media giant. Magerman said he’s given $425,000 to the campaign.
Ex-Hedge Fund Exec Magerman Funded Anti-Facebook Campaign
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