Modern Day Medici

Swedish billionaire Sigrid Rausing has purchased Granta (one of my favorite literary magazines) as well as Granta Books.

[Julian] Barnes said he too was an admirer of the philanthropy, observing that it was all too rare in publishing. ‘I have been an admirer of and contributor to Granta over the years,’ he said. ‘Granta is a force for good in British letters and one of the few remaining places where you can place a short story in this country. It’s very strong editorially and I don’t have a bad word to say about it. It’s been looking to fall from one benevolent owner to another and that seems to have happened.’

Rausing also started a publishing house earlier this year: Portobello Books.