* Mark Maxwell in January…
Rumble, an upstart website with a reputation for spreading misinformation about vaccines and the 2020 election, has financial ties to the wealthiest political megadonor in Illinois, according to publicly available financial documents filed with the Securities and Exchange Commission.
A simple search for the word “vaccine” on Rumble’s homepage returned three times more videos with misinformation than accurate claims, according to research published in Wired Magazine. Rumble’s presentation and distribution of video content amplified misinformation about vaccines and elections more than any other topics, according to the study’s findings.
“Whether they claim that they are responsible for this information, they they are having a role in it,” said Emily Van Duyn, a University of Illinois professor who studies politics and digital media. “That creates a situation where they need to step up and take more ownership of what content is on their platform.” […]
The company was created to compete with rival YouTube, which has taken recent steps to stifle the spread of misinformation, such as false or misleading claims about the 2020 election results or COVID-19 vaccines. Those messages, often banished from YouTube, are welcome and widely available on Rumble. […]
When Rumble went public on December 1st, 2021, it did so with significant financial backing of Ken Griffin’s Chicago-based hedge fund, Citadel Advisers. The Chicago-based hedge fund pooled together funds in February of 2021 to form a a special-purpose acquisition company or “SPAC” (CF Acquisition Corp. VI VI). The Griffin-backed shell company officially “merged” with Rumble. It holds 826,864 shares in Rumble, which are now worth $8,028,849 and amounts to the fifth largest holding position in Rumble.
A recent investment analyst reported the company’s stock went “soaring 10% in December,” and boasts 8 billion minutes watched in the third quarter of 2021.
* Maxwell updates…
* From Reuters…
Russian state-controlled news network RT said on Thursday it will begin broadcasting on Rumble, a YouTube-like video site, after tech companies including Meta Platforms (FB.O) and Twitter (TWTR.N) have restricted access to RT following Russia’s invasion of Ukraine.
Tech companies in recent days have moved to restrict Russian state-controlled media including RT and Sputnik in response to requests from governments and calls to prevent the spread of Russia propaganda. Russia has called its actions in Ukraine a “special operation.”
The Grif slate may have to deal with this.
*** UPDATE *** From a source close to the billionaire: “We have been out of Rumble for months. The position Mark reported is as of 12/31/21.” The facts “will be clear when its quarterly SEC filing is released in the middle of April,” the top source claimed.
I’ve updated the headline for now.
