California State Workers and Taxpayers Are Among National Enquirer’s Biggest Investors
The National Enquirer has been one of President Trump’s most controversial allies, delivering scathing coverage of his opponents to super market check-out lines and funneling $150,000 to one of his alleged mistresses to buy her silence.
So it will probably come as a surprise to California state employees and taxpayers to learn they were helping fund those efforts.
During the 2016 presidential campaign, California’s massive public pension fund, CalPERS, was one of the biggest investors in the debt-laden owner of the National Enquirer, according to public records reviewed by the Los Angeles Times.
Through an investment managed by a New Jersey hedge fund, California’s public pension fund appears to have owned as much as one-third of American Media Inc., the National Enquirer’s parent company, in 2016. It is not clear whether CalPERS continues to hold a major stake in the tabloid publisher.
Read the full story on LATimes.com.