Since leaving Fox News in April, Carlson's widely popular show on X has attracted hundreds of millions of views, underscoring his point that legacy corporate media is dying. In August, we cited a CNBC report that said GOP megadonors considered investing in Carlson's show.

WSJ now reveals that Omeed Malik, who launched 1789 Capital earlier this year, invested $15 million in Tucker Carlson and Neil Patel's new media venture that is registered in Nevada under the holding company name Last Country, Inc. on Monday. The investment is structured as "SAFE," short for Simple Agreement for Future Equity, a standard type of investment structure developed by Silicon Valley startup accelerator Y Combinator.