You might think a massive, world-altering media entity like The New York Times is owned by a faceless hedge fund or perhaps a tech billionaire looking for a hobby. It’s a reasonable guess. After all, Jeff Bezos bought The Washington Post, and Patrick Soon-Shiong took over the LA Times. But the owner of the New York Times is actually something much more old-school, slightly complicated, and deeply rooted in a single family’s history.
It’s the Sulzbergers. Specifically, the Ochs-Sulzberger family.
They’ve held the reins since 1896. That is a staggering amount of time for any family to maintain control over a public company, especially in a world where digital disruption has eaten traditional media for breakfast.
The Dual-Class Structure: How They Keep Control
Most people don't realize that The New York Times Company (NYT) is a publicly traded corporation on the New York Stock Exchange. You can go out right now and buy shares. However, buying those shares doesn't give you a seat at the table where the big decisions are made.
This is because of a "dual-class" stock structure.
There is Class A stock and Class B stock. If you buy shares on the open market, you’re buying Class A. These shares give you dividends and a tiny bit of voting power for about 30% of the board of directors. But the Class B shares? Those are the golden tickets. They are mostly private, not traded on the open market, and they control the election of 70% of the board.
The Ochs-Sulzberger family owns the vast majority of those Class B shares.
They hold them through a family trust. This setup ensures that no matter how many shares an outside investor like Carlos Slim (who used to be a major stakeholder) or a predatory hedge fund buys, they can’t actually force a sale or fire the publisher. It’s an ironclad shield.
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Meet A.G. Sulzberger
Arthur Gregg Sulzberger, known as A.G., is the current chairman of the company and the publisher of the paper. He took over from his father, Arthur Ochs Sulzberger Jr., in 2018.
He’s the fifth generation.
Think about that. While other newspapers were folding or selling out to vulture capitalists, the Sulzbergers were training the next kid in line. A.G. didn’t just walk into the office and put his feet up on the desk. He was actually the lead author of the famous 2014 "Innovation Report," which was a leaked internal document that basically told the newsroom: "Change or die." It was a brutal, honest look at how the Gray Lady was failing at digital.
Honestly, that report probably saved the company. It shifted the focus from print advertising to digital subscriptions. Now, the owner of the New York Times presides over a company with more than 10 million subscribers. They aren't just a newspaper anymore; they own The Athletic, Wirecutter, and even Wordle.
Is it a Monopoly? Not Exactly.
While the family controls the direction, they don't own 100% of the equity. That’s a common misconception. Large institutional investors like Vanguard and BlackRock hold massive amounts of Class A stock.
But ownership in the world of media is as much about editorial independence as it is about stock price.
The family trust has a specific charter. The goal isn't just "make more money." It’s to maintain the editorial independence and integrity of the paper. You’ve probably heard people scream about bias—from both the left and the right. That’s part of the job. But from a business ownership perspective, the Sulzbergers view themselves more as "stewards" than "owners" in the traditional sense.
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The Carlos Slim Era
There was a moment, back during the 2008 financial crisis, when things looked bleak. The New York Times Company needed cash. Fast.
Mexican billionaire Carlos Slim stepped in with a $250 million loan. People freaked out. They thought a foreign billionaire was becoming the new owner of the New York Times. But it was a loan, not a takeover. Slim eventually became the largest individual shareholder of Class A stocks, but he never had the Class B voting power. He eventually sold most of his stake.
The family didn't budge. They held onto the B shares like a life raft.
Why This Ownership Model Matters Right Now
In 2026, the media landscape is a mess of AI-generated sludge and "pink slime" news sites. In this environment, the ownership of a "paper of record" is a massive political and social flashpoint.
Because the Sulzbergers aren't beholden to a quarterly profit-at-all-costs mandate from a faceless board, they can invest in long-term projects. We're talking about year-long investigations that cost millions and might only result in one article. A hedge-fund-owned paper would cut that department in a heartbeat to save costs.
- Long-term stability: They think in decades, not quarters.
- Protection from Takeovers: Hostile takeovers are basically impossible.
- The Publisher Role: The publisher is always a family member, ensuring the "Ochs-Sulzberger" DNA remains.
The Critics' View
It’s not all praise, though. Critics argue that this "dynastic" ownership creates a bubble. If the same family has been running the show for over 120 years, how can they truly understand the experiences of diverse, modern audiences?
Some say it’s an aristocratic relic in a democratic society. Others argue that the family's personal politics inevitably seep into the editorial board's decisions. Whether you agree or not, the fact remains that the owner of the New York Times is one of the most powerful positions in global journalism because of this unique, protected structure.
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Realities of the Family Trust
The trust isn't just one person. It represents dozens of family members.
Not all of them are rich beyond their wildest dreams. The dividends from the NYT stock have fluctuated over the years. During the lean years of the 2010s, the family actually stopped taking dividends to keep the paper afloat. That’s a move a typical corporate owner would never make.
They have a "Family Council" to handle internal disagreements. It’s very Succession, but with fewer expletives and more concern about journalistic ethics.
Key Figures in the Trust
- A.G. Sulzberger: The face of the company.
- Arthur Ochs Sulzberger Jr.: The emeritus figure who transitioned the paper to the internet age.
- The Trustees: A rotating group of family members who vote on how the Class B shares are handled.
How to Verify Ownership Yourself
If you’re ever skeptical, you don't have to take a journalist's word for it. Because the NYT is a public company, they have to file 13D and 14A forms with the SEC.
If you look at their latest proxy statement, you’ll see the breakdown. You’ll see the "Ochs-Sulzberger Trust" listed right there. You’ll see the names of the trustees. It’s all public record, even if the inner workings of the family meetings are private.
Actionable Insights for Readers
Understanding the owner of the New York Times helps you filter the news you consume. When you read a story, you should know who pays the reporters and who protects the editors.
- Check the Bylaws: If you’re an investor, understand that Class A shares won't give you a say in management.
- Follow the Money: Always look for the difference between "equity owners" (who get the profit) and "voting owners" (who make the rules).
- Compare Models: Contrast the NYT's family trust with The Guardian's Scott Trust (a non-profit model) or The Washington Post's sole-proprietorship under Bezos.
The Ochs-Sulzberger family has survived the invention of the radio, the television, the internet, and now the rise of AI. They’ve managed to keep control by being extremely protective of their voting rights. Whether that’s good for journalism is a debate that will likely continue for another hundred years.
To stay informed on how this ownership affects the news, keep an eye on the company's annual reports and any changes to the Family Trust’s leadership. These shifts are often the first sign of a change in editorial direction. If you want to dive deeper into the financial health of the paper, look up their ticker symbol (NYT) and read the "Risk Factors" section of their 10-K filing; it’s a fascinating look at what keeps a media dynasty awake at night.
Next Steps for Deep Research:
To truly understand the influence of the family, read the 2014 Innovation Report (available online) to see how A.G. Sulzberger planned the digital transformation. Then, compare the NYT's corporate governance documents with those of News Corp or Gannett to see just how rare the Sulzberger's level of control actually is in 2026.