The second-largest set of shareholders are Reddit employees. Headquartered in New York City, it is one of the biggest private companies in the country. A payment, referred to as an advance in the publishing industry, is paid to an author by a publisher before publication of the author’s book. Forbes estimated the Newhouse family’s net worth at $18.5 billion in 2016, making it the country’s 11th-richest. The parent company, Advance Publications, this week plunked down $1.75 billion to buy Turnitin, a profitable, plagiarism-detecting software outfit in the education field. Donald Net Worth: $11.1 billion. Source of wealth: Advance Publications. It represents the projected future royalties. Family patriarch S.I. It is a US based media company founded by his father in 1922. Advance’s mission is to build the value of the company over the long-term by fostering growth and innovation across a diversified portfolio which includes media, communications, technology, education, and other promising sectors. Advance. Si Net Worth: $13 billion. The deal, which The Wall Street Journal estimated is worth nearly $1.75 billion, is expected to close in the second quarter of 2019. Advance Publications, Inc. is a private, family business. Through this media company, Donald co-owns the Conde Nast, […] If the print side of Advance Publications is on tenuous footing, the situation is less dire for the Newhouse family. Net worth: $31 billion. Newhouse founded the publishing giant in 1922, per Bloomberg. Donald Newhouse is an American businessman who is best known to be the co-owner of Advance Publications. In the spin-out that occurred in early 2012, Advance voluntarily reduced its sole ownership to that of a partial owner in order to put ownership in the hands of current and future employees. Its portfolio of newspapers includes The Star-Ledger (New Jersey), as well as weekly titles published by American City Business Journals. Sam Newhouse originally founded the family business, Advance Publications. Advance Local is a unit of Advance, a privately-held company. Advance Publications is a leading newspaper and magazine publisher with several dozen titles and owns many digital entertainment channels. Net Worth: $18.5B Family Business: Advance Publications Industry: Publishing Prominent Member: Donald Newhouse. A standard guideline for an advance is the amount the book is estimated to earn in royalties during the first six to 12 months after publication. The Newhouse family is one of America’s oldest and most powerful publishing and media families. 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