The Secret Wealthy Family That Owns New York: The Sulzbergers

If there is one secret wealthy family who is both “old money” and powerful in New York - its the Sulzbergers, along with their founding in-laws, the Ochs family, who have owned The New York Times for an eye-watering 120 years.

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TIMESTAMPS:
0:00 Introduction
1:47 Chapter 1: Saving The News
6:46 Chapter 2: Guiding The Country Through War
10:04 Chapter 3: Going Public With The New York Times
13:00 Chapter 4: Navigating the Digital Age
16:43 Chapter 5: Controversies In A Legacy

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For over 120 years, the Sulzbergers and their founding in-laws, the Ochs family, have been the stewards of The New York Times, guiding it through historical milestones like world wars and the Great Depression, and maintaining its reputation as a leader in media.

But to understand their extraordinary influence, we must first trace their roots to Adolph Ochs. In 1896, this 38-year-old media tycoon took over the floundering newspaper, whose circulation had dwindled to a fraction of its competitors'.

Ochs, a German immigrant with humble beginnings, had already made a name for himself in the world of journalism by reviving the Chattanooga Times.

His next mission was to rescue The New York Times from the brink of bankruptcy. In came the Sulzbergers—Cyrus and Ferdinand—who married into the family and infused Ochs's vision with their financial resources and business acumen.

Their immediate strategy was simple yet effective: elevate journalistic standards, innovate printing technology, and leverage social connections to secure exclusive contracts.

By 1904, they'd moved the paper into a towering edifice in Longacre Square, a symbolic manifestation of their sky-high ambitions.

However, the challenges they would later face, especially around World War 2 and other social and political upheavals, would test their limits.

Fast forward to 1935, and Arthur Hays Sulzberger, Ochs's son-in-law, became the publisher.

Arthur carried forward the family legacy, steering the Times through multiple wars and into the international arena. His wife Iphigene was not just a silent partner; she served on the board and advocated for women's roles within the organization.

As years passed, the Sulzbergers took bold steps to maintain their stronghold, even taking the company public in 1976 to attract investment while maintaining family control.

Diversifying their portfolio, they purchased smaller newspapers, radio and television stations, and other media outlets. And, in moments of national concern, like the publication of the Pentagon Papers in 1971, they showcased journalistic courage that would either solidify or threaten their legacy.

Entering the 21st century, the digital era presented new challenges. The Times won six Pulitzer Prizes for their reporting during the first decade, However, the early 2000s also brought internal controversies that questioned the paper's integrity, from the Jayson Blair scandal to public criticisms of bias.

Under the helm of A.G. Sulzberger, the paper saw massive growth in its subscription base, especially during tumultuous times like the 2020 U.S. presidential election.

Yet, their new approach also drew criticisms, leading to questions about journalistic objectivity and sparking debates about the legacy of the Sulzbergers and The New York Times.

So here we are, looking at a family that has, for generations, navigated societal changes, technological revolutions, and ethical challenges, all while retaining their grip on a media empire.

And as we head into the future, the Sulzbergers face new challenges that could either fortify or shatter their monumental legacy.