Former Republican presidential candidate Vivek Ramaswamy is pushing for major change at troubled news outlet BuzzFeed and has been quietly acquiring shares in the company, catapulting him to the second-largest Class A shareholder with an 8.37% stake.

In a letter to BuzzFeed's board of directors, reviewed by FOX Business, the entrepreneur and investor lays out his vision to rescue the media brand.

While shares of BuzzFeed have rallied 180% this year, the stock is well off its peak of around the $40 per share level reached in March 2021.