The rapper Ye’s purchase of the right-wing social media app Parler may do little to reignite the floundering platform. But taken as a piece in a larger puzzle of billionaires buying, creating and investing in social media apps, the acquisition could further consolidate the power of ultra-wealthy men to shape the online ecosystem based on their own ideological views.

Ye, formerly known as Kanye West, is part of a new wave of high-profile billionaires — also including the likes of Elon Musk, Peter Thiel and former President Trump — who are putting millions into platforms with the stated intent of enabling users, including themselves, to say what they want without the constraint of rules aimed at limiting abusive content. 

The market of social media apps that espouse that laxer content moderation philosophy, largely allowing the racism, antisemitism, misogyny and conspiracy theories prohibited on mainstream sites, is crowded. Although none of those platforms, which cater to a right-wing audience, boast user numbers on par with those of mainstream sites, experts warn the alternative sites’ power to shape online narratives about elections and other hot-button events shouldn’t be underestimated — especially as billionaires’ deep pockets power their ability to grow. 

Jared Holt, senior research manager at ISD Global, said […]