Multi-Billionaire Media Baron Rupert Murdoch Is Retiring; What is His Net Worth?

What is Rupert Murdoch’s Net Worth?

Rupert Murdoch, the all-powerful right-wing media mogul who built one of the world’s most influential news empires, recently stepped down as the chairman of his companies, Fox Corporation and News Corporation. He has an estimated net worth of $9.15 billion as of February 22, according to the Bloomberg Billionaires Index. Rupert Murdoch & family are estimated to be worth $19 billion, as per Forbes. 

The 92-year-old media baron handed in  the reins of his empire to his son Lachlan Murdoch and take the role of Chairman Emeritus of the two companies. Murdoch began his career at age 21 when he inherited his father's business. He went on to build a massive media empire and become one of the most influential men in media in the world. Murdoch’s retirement comes at a time when the 2024 presidential race is heating up.

Rupert Murdoch's Career

Murdoch was born  in Melbourne, Australia. He took over the family business at 21 when his father died, and started managing "The News," an Adelaide newspaper. He successfully turned the publication into a prominent newspaper in Australia and went on to aquire several other newspapers across the country to expand his empire. Moving on from Adelaide, Murdoch went on the set up a  new newspaper in Australia called "The Australian."

Major Acquisitions

Rupert acquired a number of publications across the globe. In the United Kingdom, he took over "News of the World" and "The Sun," both of which were struggling at the time of acquisitions.  He replicated his Australian success and  transformed the two papers into successful businesses.

Venturing into the U.S., Murdoch acquired the "San Antonio Express-News," in 1973, followed by the acquisition of New York magazine, and the Chicago Sun-Times.  This followed several acquisitions including the mega purchase of the  "New York Post" in 1976. He also expanded to book publishing bsuiness by taking over Harper & Row in 1987, which later merged wth Colling to form HarperCollins. 

Murdoch then went on an acquisition spree in the 80s, starting with Marc Rich's interest in 20th Century Fox from Marvin Davis for $250 million. He then purchased all of the independent television stations owned by John Kluge, who was the richest man in the world in 1990.

The  six stations formed Murdoch's venture, the "Fox Broadcasting Company"in 1986. The network  became one of the nation's biggest and influential media companies and soon Murdoch bought out Davis' stake in Fox for about $326 million.

Decades later in 2019, Disney acquired 21st Century Fox for $71 billion, at a time when Murdoch held a 17% stake in Fox. Thus, Murdoch gained about $12 billion worth in Disney stock and an additional $10 billion from the sale was distributed to his six kids.

Murdoch also became a 39% owner of the newly-formed Fox Corporation, which owns the  Wall Street Journal, New York Post, Fox News, Fox Broadcast Network, and The Times of London.

Rupert Murdoch’s Sources of Income And Earnings

Murdoch served as the chairman of the News Corp. and Fox Corp. Fox Corp, which focuses on television production, cable news, and broadcasting, had revenue of $14.9 billion in the year to June 30, as per Bloomberg. The other company, News Corp. is a publisher of the Wall Street Journal, New York Post and The Sun. The two holdings are largely held through the Murdoch Family Trust that Murdoch still controls, as per the regulatory filings.

In 2019, Murdoch sold the majority stake of 21st Century Fox to Walt Disney Co. Disney completed its $71 billion purchase by acquiring assets including Fox movie studio, cable channels such as FX and National Geographic, and some international assets. Murdoch received $12 billion of the proceeds, which were distributed among his six children, as per Bloomberg.

While Murdoch took home more than $18 million as compensation in 2022, the Fox Corp's former chairman’s total compensation rose more than 24% to $22.9 million in 2023, as per a regulatory filing, Reuters reported.

Real Estate Investments And Luxury Properties

In 2013, Murdoch bought a Bel-Air property from Northrop Corporation CEO Thomas Jones for $28 million. Named ‘Moraga’, the property is the only working winery in upscale Bel-Air as per Forbes.

After the purchase of the vineyar, Murdoch added to his New York real estate holdings by purchasing a 6,850-square-foot quadruplex penthouse in the One Madison Building. Murdoch reportedly paid $57.25 million for the luxury property. 

Earlier in 2005, Murdoch bought a majestic 20-room top-floor apartment at 834 Fifth Avenue for a whopping $44 million making it the most expensive apartment in New York at the time. His ex-wife Wendi Deng reportedly spent $6.4 million refurbishing the residence which covers 4,000 square feet of space over three floors.

In 2019, Murdoch bought a Grade 2 listed Georgian property for $14.5 million. The palace built in the 1700s features 11 bedrooms, an infinity pool and a ballet studio. It became the home of Murdoch and his then-wife Jerry Hall, Forbes reported. 

Most recently in 2021, Murdoch and his now ex-wife Jerry Hall bought a massive $200 million Montana cattle ranch from the billionaire Koch family, as per The Wall Street Journal. The Ranch spreads across 340,000 acres with a working cattle farm located in southwest Montana near Yellowstone National Park.

Most recentyl, in 2023,  Murdoch bought a full-floor, 6,500 square foot apartment on Central Park South which was initially put on sale for  $30 million. 

Rupert Murdoch’s Car Collection

Murdoch also has an impressive collection of high-end luxury cars. According to 21Motoring, his collection includes a Range Rover Autobiography, which is worth about $140,000, a Mercedes-Maybach S600, whose price exceeds $200,000, a W220 Mercedes-Benz S Class, and a Rolls-Royce Ghost Black Badge, which is priced at $400,000, as per the publication.

Marriages And Divorce

Murdoch first married Patricia Booker in 1956 when he was 25. With her, he welcomed his firstborn in 1958. He then went on to marry three more times, with Anna Maria Torv in 1967, Wendi Deng in 1999, and Jerry Hall in 2016. When Murdoch and Anna Maria divorced  in 2013, Murdoch had to shell out a whopping $1.7 billion in divorce settlement. Over the course of his marriages, Murdoch had six children with three of his four wives.

Most recently, Murdoch divorced Hall in 2022 and announced his engagement to Ann Lesley Smith in 2023. However, People reported that he called off his engagement a month later.

Controversies

In 2011, Murdoch was embroiled in controversy when he was accused of hacking into the phones of celebrities, the royalty and politicians to get stories for his tabloid. He was subjected to investigation from both the  British government and the FBI. He further faced criminal charges of corruption and bribery, and all of this forced Murdoch to step down from his role as director of News International.

Further in 2017,  Murdoch deliberately downplayed the allegations of sexual misconduct by Fox News' several top employees. This was after three of the most powerful men at the network, including former Fox News CEO Roger Ailes, and hosts Bill O'Reilly and Eric Bolling were ousted from the network amid sexual harassment allegations.

Murdoch most recently was associated with the Fox News scandal in which it was accused of playing a role in promoting false election fraud claims in the 2020 presidential election. Murdoch reached a $787.5 million defamation settlement with Dominion Voting Systems in the case, as per Mirror UK.

FAQs

How old is Rupert Murdoch?

Rupert Murdoch is 92 years old.

How many biological children does Rupert Murdoch have?

Murdoch has six children with three of his four wives.

How much is the Murdoch Empire worth?

Rupert Murdoch & Family has an estimated net worth of $17.3 billion as of September 25, according to Forbes.

How much did Murdoch pay for the Times?

Rupert Murdoch bought The Times of London and its affiliated publications for $28 million, as per the New York Times.

Who will replace Rupert Murdoch?

After Rupert Murdoch steps down as the chairman of both of his companies, his son Lachlan Murdoch is set to take his place.

How Many Media Outlets Does Rupert Murdoch Own?

Murdoch has formerly controlled the cable channel Fox News, Sky News Australia, and The Wall Street Journal. 

Who Is The Majority Owner Of Fox News?

Currently the Fox Corporation owns Fox News and it is primarily controlled by the Murdoch family, with a majority stake. 

What Is Lachlan Murdoch's Net Worth?

While Lachlan Murdoch's net worth has not been clearly reported, it is estimated to be over $29 million. 

How Much Does Lachlan Murdoch Make In A Year?

In 2022, Lachlan Murdoch received $21.7 million in total compensation as the CEO of Fox Corporation. 

How Much Is Rupert Murdoch Worth 2024?

As of February 22, Ruper Murdoch's net worth  is estimated to be $9.15 billion. 

What Is Vivica Fox Net Worth 2023?

Vivica Fox is estimated to be worth $2 million. 

Does Rupert Murdoch Own A Yacht?

Yes, Rupert Murdoch does own a private yacht. 

Who Is The Current Ceo Of Fox?

Suzanne Scott is the new CEO of FOX News.