Vivek Ramaswamy, Ohio governor nominee, liquidated every share of BuzzFeed he owned, selling 3.1 million shares at an average of $1.56 on May 12 and 39,000 warrants at 4 cents each. The move followed Byron Allen’s $120 million purchase of a 52% stake in the struggling media firm.

BuzzFeed has faced shrinking audiences and advertising revenue. Allen plans to rebrand the outlet into a news, weather and entertainment app aimed at home viewers, a shift that could reshape the company’s revenue model. Ramaswamy’s prior stake of 8.9% in 2024 had driven calls for new board seats and high‑profile hires.

The sale eliminates Ramaswamy’s financial exposure to a company in transition, freeing capital for his campaign. It also signals confidence in Allen’s turnaround plan, potentially boosting investor sentiment. Investors will watch how Allen’s stake influences BuzzFeed’s strategic direction.

The transaction underscores how political figures manage corporate holdings when entering public office, and how ownership changes can accelerate media restructuring.