Keith Rupert Murdoch, born March 11, 1931, is an Australian-born American media mogul and the owner of News Corp, which includes prominent outlets like The Wall Street Journal, The Sun, and Fox News. After inheriting The News from his father in 1952, Murdoch expanded globally, acquiring numerous media assets across continents.
He became a U.S. citizen in 1985 to meet media ownership laws. His career has been marked by pioneering shifts to digital media and controversies including the 2011 phone hacking scandal. As of September 2023, Murdoch announced plans to step down as chairman of Fox Corp and News Corp.
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Table of Contents
Rupert Murdoch’s Net Worth
Rupert Murdoch has a net worth of $19 billion. In 2015, Murdoch sold his Beverly Hills home to his son James for $30 million, $5 million below the initial $35 million asking price.
The 8,651 square-foot property, constructed in the 1920s, features 11 bedrooms. James Murdoch expressed a desire to preserve the home’s historical integrity while considering future renovations.
Early life and education
Keith Rupert Murdoch is the second of four children of Sir Keith Murdoch and Dame Elisabeth Greene. He comes from a background rich in English, Irish, and Scottish heritage. His father was a prominent regional newspaper owner and his mother was deeply involved in charity.
Educated at Geelong Grammar School and Worcester College, Oxford, Murdoch was active in student journalism and politics, earning the nickname “Red Rupert.” Following his father’s death in 1952, he briefly worked at the Daily Express before taking over his family’s media empire, beginning his ascent in the global publishing industry.
Career
Rupert Murdoch established “The Australian” before expanding into the UK market by revitalizing struggling papers like “News of the World” and “The Sun.” In 1973, he entered the U.S. market by purchasing the “San Antonio Express-News,” followed by the “New York Post” in 1976.
His major acquisitions occurred in the 1980s, including buying Marc Rich’s interest in 20th Century Fox for $250 million in 1984 and purchasing television stations from billionaire John Kluge. These stations formed the foundation of Fox Broadcasting Company, launched in 1986, which rapidly grew into a dominant media entity. He later consolidated his hold by buying out additional stakes in Fox.
Personal life
Rupert Murdoch married his first wife Patricia in 1956, with whom he had his daughter Prudence, and divorced in 1967. That same year, he married Anna Torv and had three children: Elisabeth, Lachlan, and James. After their 1999 divorce, he quickly married Wendi Deng, fathering two daughters, Grace and Chloe.
He divorced Deng in 2013 and married Jerry Hall in 2016; they divorced in 2022. Murdoch’s marriages and divorces have often coincided with pivotal business maneuvers, reflecting his complex family dynamics which involve substantial stakes in his global media empire.
What Companies Does Rupert Murdoch Own?
Murdoch’s empire, primarily through News Corp, comprises a plethora of media outlets. In the UK, he owns The Sun, The Times, The Sun on Sunday, and The Sunday Times. In Australia, his assets include The Daily Telegraph, Herald Sun, and The Australian.
He also controls significant U.S. publications like The Wall Street Journal and the New York Post, along with HarperCollins, a leading book publisher. Additionally, he has stakes in TV broadcasting channels such as Sky News Australia and Fox News.
Conclusion
Rupert Murdoch’s wealth is a testament to his lifetime of work in shaping the media landscape. His vast empire and influence make him a pivotal figure in modern media history, drawing both admiration and criticism in equal measure.
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FAQs about Rupert Murdoch Net Worth
- How did Rupert Murdoch amass his fortune?
- Primarily through his expansive media conglomerates, News Corp and Fox Corporation.
- Who are the potential successors to Rupert Murdoch’s empire?
- His children, with Lachlan being the most probable successor.
- What are some of the most prominent companies under Murdoch’s ownership?
- The Wall Street Journal, Fox News, The Times, and Sky News Australia, among others.
- How influential is the Murdoch family in global media?
- Their influence is profound, with their entities shaping politics and public opinion across continents.
- Has Rupert Murdoch retired from his businesses?
- Yes, Murdoch stepped down as chairman in September 2023.
