Facebook co-founder Chris Hughes says Washington society unfriended him after The New Republic debacle

Facebook co-founder Chris Hughes, who is worth an estimated $430 million, reveals in his new book his personal pain after his failed foray into media ownership.

Hughes’s new book, “Fair Shot,” mainly examines income inequality. But he interrupts his study of the widening wealth gap to reflect on what happened when he took over The New Republic in 2012.

Hughes, Mark Zuckerberg’s roommate at Harvard, made his fortune at Facebook before leaving to coordinate online operations for Barack Obama’s 2008 presidential campaign. Despite spending more than $20 million of his own money, Hughes’s ownership of The New Republic — he appointed Franklin Foer as editor and subsequently replaced him in the role, declaring he was reinventing the title as a “vertically integrated digital-media company” — was a period of turmoil, culminating in a mass staff exodus in 2014.

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