According to sources, Rupert Murdoch is an Australian-American media mogul with a reported net worth of $8.26 billion as of September 2023. He is renowned as the founder and chairman emeritus of two of the world’s largest media companies: Fox Corporation and News Corporation. Additionally, he holds stakes in other prominent media outlets, including The Wall Street Journal, The Sun, and Sky TV. According to Forbes, the collective net worth of Rupert Murdoch & family is $17.3 billion.
Some of his income sources include:
1. Fox Corporation: Murdoch’s ownership stake in Fox is valued at approximately $3.2 billion. Fox Corporation specializes in television production, cable news, and broadcasting, with a reported revenue of $14.9 billion for the fiscal year ending on June 30.
2. News Corporation: Murdoch possesses shares in News Corp worth approximately $1.3 billion. News Corporation is a publisher of prominent publications like The Wall Street Journal, New York Post, and The Sun, and it also owns HarperCollins, a notable book publishing company.
3. Pension Plan: Murdoch maintains a Fox Corp pension plan with holdings totaling $142 million.
4. Cash and Assets: Murdoch’s liquid assets and tangible assets, including homes, yachts, and cars, are estimated to be around $3.2 billion. He owns properties in key locations such as New York, Los Angeles, London, and Australia.
In 2019, Murdoch made headlines by selling the majority stake of 21st Century Fox to Walt Disney Co. for a staggering $71 billion. From the proceeds, he received a substantial $12 billion, which he subsequently distributed among his six children.
Murdoch’s illustrious career began as a newspaper owner in Australia, and he went on to expand his media empire to the UK and the US. He is widely recognized for his conservative political views and his significant influence on global media and politics. Notably, he retired from his role as chairman in September 2023, passing the torch to his son, Lachlan Murdoch.
More About Rupert Murdoch
Rupert Murdoch is an Australian-born American media mogul who founded News Corp, a global media conglomerate encompassing newspapers, television channels, and film studios. He was born on March 11, 1931, in Melbourne, Victoria, Australia.
His father, Sir Keith Murdoch, was a prominent newspaper publisher in Australia, and Rupert grew up in the newspaper industry. Murdoch attended Geelong Grammar School in Australia and later studied philosophy, politics, and economics at Oxford University in England.
In 1952, at the age of 21, Murdoch inherited a small newspaper called The News in Adelaide, Australia, from his father. He swiftly revitalized the newspaper and embarked on acquiring others throughout Australia and New Zealand. In the 1960s, Murdoch expanded his media empire into the United Kingdom, acquiring the struggling tabloid The Sun and the broadsheet The Times. He transformed The Sun into a popular paper focusing on sex, scandal, and sensational stories.
During the 1970s, Murdoch entered the American media market, acquiring numerous newspapers, including The New York Post and The Wall Street Journal. In the 1980s, he launched the Fox Broadcasting Company, which became one of the most successful television networks in the United States. He also obtained a stake in Sky TV, a European satellite television service.
Throughout his career, Murdoch has been known for his aggressive business tactics, his willingness to take risks, and his ability to revive struggling media organizations. He has been praised for his entrepreneurial spirit and his investments in new technologies and media platforms. However, he has also faced criticism for his conservative political views and his influence on global media and politics. In September 2023, he retired from his chairman role, passing the reins to his son, Lachlan Murdoch. Rupert Murdoch has been married four times and has six children.