As of 2024, Rupert Murdoch, aged 92, has an estimated net worth of $19 billion. The Australian-born media tycoon amassed his fortune through News Corp and Fox Corporation, establishing himself as one of the most powerful figures in global media. His influence spans print, television, and digital media, with major holdings including The Wall Street Journal, Fox News, The Times, and HarperCollins.
How Did Rupert Murdoch Build His Media Empire?
Murdoch’s journey in media began in 1952 when he inherited The News, an Adelaide newspaper, from his father. He quickly expanded his empire by acquiring and revamping struggling newspapers in Australia. His aggressive acquisitions continued in the United Kingdom, where he purchased News of the World and The Sun, turning them into widely read tabloids.
Murdoch’s entry into the U.S. market began in 1973 with the purchase of the San Antonio Express-News. He later acquired the New York Post in 1976, followed by several independent television stations in the 1980s. His most significant move came in 1986 with the founding of Fox Broadcasting Company, which quickly became one of America’s leading networks. His acquisition of The Wall Street Journal in 2007 further solidified his position in print journalism.
What Was the Impact of the Disney Acquisition?
One of the biggest shifts in Murdoch’s career came in 2019 when he sold 21st Century Fox to Disney for $71 billion. As part of the deal, Murdoch retained a 17% stake in Fox, translating to approximately $12 billion in Disney stock. His children also benefited, receiving an additional $10 billion.
Following the sale, Murdoch maintained control of Fox Corporation, which owns Fox News, The Wall Street Journal, and the New York Post. His 39% stake in Fox Corporation today is worth approximately $4 billion.
What Are Some of Rupert Murdoch’s Most Notable Business Moves?
Throughout his career, Murdoch made several landmark deals that transformed the media industry:
- 1984: Acquired Marc Rich’s interest in 20th Century Fox for $250 million.
- 1985: Became a U.S. citizen to comply with laws restricting foreign ownership of U.S. television networks.
- 1986: Launched Fox Broadcasting Company, shaking up the U.S. television landscape.
- 2007: Purchased The Wall Street Journal for $5 billion.
- 2013: Split his company into two—News Corp for print media and 21st Century Fox for entertainment.
- 2019: Sold 21st Century Fox to Disney for $71 billion, shifting focus to Fox Corporation.
How Has Murdoch Influenced Politics and Media?
Murdoch’s media empire has been instrumental in shaping public opinion and influencing political landscapes globally. His outlets, particularly Fox News, have been accused of political bias and playing a role in swaying elections. Similarly, his UK papers, such as The Sun and The Times, have played crucial roles in British politics.
Murdoch’s involvement in politics extends beyond news coverage. He has been a close associate of several world leaders, including former U.S. presidents and UK prime ministers. His ability to shift public narratives through media has made him one of the most influential figures in modern history.
What Controversies Have Surrounded Murdoch?
Murdoch’s career has been marred by several controversies. The most notorious was the 2011 phone-hacking scandal, where his British tabloids were accused of hacking the phones of celebrities, royals, and politicians. The scandal led to criminal investigations by both the British government and the FBI, forcing Murdoch to step down as director of News International.
Another major setback was his involvement in the Theranos scandal. Murdoch was among the high-profile investors who lost millions when Elizabeth Holmes’ fraudulent blood-testing startup collapsed.
How Has Rupert Murdoch Managed His Personal Life and Relationships?
Murdoch has been married four times:
- Patricia Booker (1956-1967)
- Anna Torv (1967-1999) – Their divorce settlement was a staggering $1.7 billion.
- Wendi Deng (1999-2013) – Married just 17 days after his divorce from Torv.
- Jerry Hall (2016-2022) – The former wife of Mick Jagger.
Murdoch has six children, many of whom have held significant roles within his business empire.
What Does Murdoch’s Real Estate Portfolio Look Like?
Murdoch owns an extensive real estate portfolio, including:
- New York City: Several properties, including a $57.25 million quadruplex penthouse in the One Madison Building and a $23 million Georgian townhouse.
- Los Angeles: A 16-acre vineyard estate in Bel-Air purchased for $28.8 million.
- Montana: A historic 340,000-acre ranch, Beaverhead Ranch, acquired in 2021 for $200 million—the largest ranch sale in the state’s history.
- Beverly Hills: Sold a $30 million home to his son, James Murdoch, in 2015.
What Is Rupert Murdoch’s Legacy?
Despite controversies, Murdoch’s influence on the global media landscape is undeniable. He revolutionized print and broadcast media, pioneered satellite television, and shaped modern journalism. His business acumen has led to the creation and expansion of some of the world’s most powerful media entities.
With his vast empire still in operation and his family deeply embedded in its leadership, Rupert Murdoch’s legacy is set to endure for decades. Whether viewed as a visionary media mogul or a controversial power player, his impact on the industry and politics remains unparalleled.
