Anti-Monopoly Fund Funnels $1 Million into Antitrust Efforts
- Fund supports groups seeking to rein in market consolidation
- Apple, Facebook, Google, Amazon CEOs to appear before Congress
Photographer: Andrew Harrer/Bloomberg
A group pushing for more competitive markets is funneling more than $1 million into initiatives that promote stronger antitrust enforcement as U.S. regulators examine whether Silicon Valley’s biggest companies have too much power over commerce.
The Anti-Monopoly Fund -- which was started last year by Facebook Inc. co-founder Chris Hughes and the nonprofit group he chairs -- said Monday that it’s donating $1,625,000 to 14 research institutions, small business groups, public-interest campaigns and other organizations that examine market concentration in a variety of sectors. Since leaving Facebook in 2007, Hughes has emerged as a critic of the power of large technology companies and stunned observers when he wrote an op-ed in the New York Times last year calling for the breakup of the social media giant he helped create.