Anti-Facebook campaign funded by Magerman's former hedge fund: report

Philanthropist and former hedge fund executive David Magerman – and not George Soros – was the first donor behind an effort urging regulators to dismantle Facebook Inc.

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Axios reported Thursday. On Wednesday, a New York Times newspaper announced that Facebook had hired a Republican-related public relations firm that had attempted to involve billionaire Soros in funding the "Freedom from Facebook" campaign. Magerman confirmed to Axios that he was behind the campaign. He told Axios that Facebook had "a huge financial disincentive to protect users' data," and that its goal was to get users to rethink their dependence on the social media giant. Magerman said that he had donated $ 425,000 to the campaign.

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