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Home US News

Venture Capitalist and Texas Tribune Founder John Thornton Passes Away at 59

by bullnews
April 4, 2025
in US News
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Venture Capitalist and Texas Tribune Founder John Thornton Passes Away at 59
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John Thornton, known for using his financial resources and considerable influence to support local journalism during challenging times, passed away at 59 in Austin, Texas. He was the visionary behind The Texas Tribune, a pioneering regional nonprofit news organization, and the American Journalism Project, which bolsters digital newsrooms across the nation. Unfortunately, he died by suicide after a prolonged battle with mental health issues, as confirmed by a representative from the American Journalism Project.

Back in 2009, Thornton reshaped the landscape of local journalism sustainability by founding The Texas Tribune. This digital-only, nonpartisan publication relies on the support of its members. What began with a small team of 11 focused primarily on Texas politics has since grown into a robust newsroom with over 50 staff members covering issues across all of Texas’ 254 counties, along with a Washington-based congressional reporter.

Thornton’s achievements inspired him to expand this model nationwide, leading to the creation of the American Journalism Project in 2019. Working alongside Elizabeth Green of Chalkbeat, a nonprofit education news outlet, Thornton envisioned the project as a form of “venture philanthropy.”

Both initiatives were driven by the need to address the void left by the declining traditional news outlets. As audiences increasingly turned to the internet and social media for information, fewer journalists remained to investigate local issues and government spending. Thornton sought to engage major philanthropists, affluent donors, and grassroots supporters to fund nonprofit digital news platforms. He aimed for these outlets to serve the public interest, akin to civic institutions like ballet companies, as described by Sarabeth Berman, CEO of the American Journalism Project.

The project garnered significant support from groups like Emerson Collective, founded by Laurene Powell Jobs, and Arnold Ventures in Houston, raising over $225 million to support 50 local digital nonprofits in 36 states. It also provided strategic guidance. The first 22 newsroom grantees have, on average, doubled their size, creating 200 jobs for journalists.

“John Thornton transformed and preserved American journalism,” stated Evan Smith, co-founder of The Tribune. “He chose to invest his time and resources into nurturing the right news organizations because he understood the imperatives.”

Despite being a top executive at Austin Ventures, managing over $4 billion, Thornton’s journey into journalism wasn’t initially driven by a quest for truth. Through his venture capitalist lens, he saw the declining newspaper industry in 2007 as a financial opportunity. Yet, as his team evaluated potential investments, they acknowledged the risky nature of backing local newspapers but also recognized the greater risk to democracy if thorough reporting faltered. The fragility of the commercial press underscored the necessity for reliable news as a public good.

Born in Wichita, Kansas, in 1965, Thornton excelled academically, leading him from Trinity University to an MBA from Stanford. His career took him to McKinsey & Company before joining Austin Ventures, where he identified investments in nearly 50 software firms. The realization that journalism required a different approach came during a “stultifying” meeting, where trivial solutions were touted for newspapers. Motivated to support public-service journalism, he enlisted Evan Smith and Ross Ramsey to lead The Texas Tribune.

In its nascent stage, The Tribune lacked formal plans or research, starting with mere scribbles on butcher paper. Yet, Thornton’s initial $1 million investment grew as the Tribune gained $4 million in support by 2009, drawing significant backers like the Houston Endowment. The Tribune’s ensuing acclaim—securing prestigious awards and a Pulitzer finalist nod for investigating the Uvalde school shooting—set a benchmark for similar initiatives across the country.

By the time Thornton exited The Tribune’s board in 2022, the organization’s funding stood at $120 million, rallying support from individuals and corporations alike. Evan Smith likened this fundraising feat to a “Houdini trick.”

Thornton leaves behind his wife, Erin, and stepsons Wyatt and Wade Driscoll. His marriage to Julie Blakeslee ended in 2010. Even as he ventured deeper into finance with Elsewhere Partners in 2016, Thornton’s commitment to innovative journalism solutions never wavered, particularly as local newspapers continued to face dire challenges.

In a 2020 Vox interview, Thornton humorously recounted encounters with affluent friends interested in purchasing his local paper. “What are they going to pay you to take it?” he mused, underscoring his view of the changing media landscape.

If you’re experiencing suicidal thoughts, reach out to the 988 Suicide and Crisis Lifeline by calling or texting 988, or visit SpeakingOfSuicide.com/resources for additional support.

Tags: CapitalistFounderJohnPassesTexasThorntonTribuneVenture
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