Rupert Murdoch's Net Worth and Billion-Dollar Empire
Rupert Murdoch's Net Worth and Billion-Dollar Empire.
What Is Rupert Murdoch's Net Worth and Salary?
Rupert Murdoch is a media giant originally from Australia, boasting a net worth of $19 billion. He made his wealth as the founder of News Corp. Although he started out in Australia, he became a U.S. citizen in 1985 and later gave up his Australian citizenship.
Nowadays, Rupert is a major player in the media landscape, owning some of the most recognized publishing brands worldwide, including Fox News, The Wall Street Journal, The Daily Telegraph, The Times, Sky News Australia, and HarperCollins, among many others.
His journey began in 1952 when he took over a single newspaper in Adelaide that he inherited from his dad. From there, Murdoch aggressively grew his empire through various acquisitions and new ventures across different continents.
News Corporation expanded to include newspapers, magazines, book publishers, film studios, and TV networks. Key assets in his portfolio are "The Times" and "The Sun" in the UK, "The Wall Street Journal" and "New York Post" in the U.S., along with Fox News. Murdoch's reach goes beyond just media; his outlets are often seen as influential in shaping political opinions and election results.
Murdoch's journey in the media world was a mix of groundbreaking ideas and heated debates. He was a trailblazer in satellite TV with BSkyB and transformed the US TV scene with the launch of the Fox network. On the flip side, he often faced backlash for the way his tabloids operated and the perceived political slant in his news coverage.
In 2013, he decided to divide his empire into two separate entities: News Corp for print media and 21st Century Fox for broadcasting and film. Then in 2019, he sold off most of 21st Century Fox to Disney, which was a big change in his business landscape.
Early Life
Keith Rupert Murdoch was born on March 11, 1931, in Melbourne, Australia. After his father passed away when Rupert was just 21, he took on the responsibility of running the family business. He began by managing "The News," a newspaper in Adelaide that his dad had founded. Rupert did a great job transforming it into a thriving publication in Australia and then went on to buy up more newspapers throughout the country.
Career
After launching a new newspaper in Australia called "The Australian," Rupert Murdoch went on to acquire several struggling publications in the UK, including "News of the World" and "The Sun." Just like in Australia, he turned these papers around into profitable ventures. In 1973, he made his first move into the US market by buying the "San Antonio Express-News." This was just the beginning, as he went on to acquire the "New York Post" in 1976.
The real action for Rupert came in the '80s. In 1984, he snagged Marc Rich's share of 20th Century Fox from Marvin Davis for a cool $250 million. Rich had to sell because of some trade deals he made with Iran that the US had sanctioned. Murdoch also bought up all the independent TV stations owned by John Kluge, who was the richest man in the world back in 1990.
These six stations became the foundation of Rupert's new project: Fox Broadcasting Company. Founded in 1986, Fox quickly rose to become one of the largest and most influential media companies in the country. Additionally, Rupert bought out Davis' share in Fox for another $326 million.
RELATED: Rupert Murdoch Loses Bid to Alter Family Trust in 'Succession' Battle.
The Disney Acquisition
In 2019, Disney bought 21st Century Fox for a whopping $71 billion. Rupert had a 17% share in Fox at the time, and when everything was wrapped up, he ended up with about $12 billion in Disney stock. His kids also scored big from the deal, with an extra $10 billion from the sale going to Rupert's six children.
After the acquisition, Rupert became a 39% owner of the newly created Fox Corporation. This media giant owns several well-known subsidiaries, like the Wall Street Journal, New York Post, Fox News, Fox Broadcast Network, and The Times of London. Nowadays, his 39% stake is valued at around $4 billion.
Relationships
Murdoch has tied the knot four times. His first marriage was to Patricia Booker from 1956 to 1967. Then, he was with Anna Maria Torv from 1967 until 1999. After that, he married Wendi Deng, staying together from 1999 to 2013. Most recently, in 2016, he wed Jerry Hall, who was previously married to Mick Jagger. However, in June 2022, news broke that Rupert and Jerry were heading for a divorce.
Rupert is also a father of four, and several of his kids have carved out successful paths in his various business ventures.
Anna Murdoch Divorce Settlement
After being married for thirty years, Rupert and Anna split up in 2013, and he handed her a whopping $1.7 billion in their divorce settlement. Just 17 days later, Rupert tied the knot with Wendi Deng.
Controversy
In 2011, Rupert found himself in hot water for allegedly hacking into the phones of some of the biggest names in the world, including royals and politicians. This led to investigations by both the British government and the FBI. He also faced serious charges related to corruption and bribery, which ultimately pushed him to resign from his position as director of News International.
On top of that, Murdoch was among the many investors who fell for the "Theranos" scandal. This was when Elizabeth Holmes managed to persuade everyone that she had developed a technology capable of conducting a variety of blood tests using just a tiny drop of blood. Unfortunately, that technology never actually worked.
Real Estate
In 2015, Rupert Murdoch sold a $30 million home in Beverly Hills to his son, James Murdoch. The place is pretty spacious, covering over 8,651 square feet and boasting 11 bedrooms. Before selling it to James for $5 million less than the $35 million asking price, Rupert had it listed on the market. Built in the 1920s, James mentioned he wanted to keep the historical charm of the house while thinking about future renovations.
While Rupert seemed to operate through a few secretive companies, many believe he picked up three units in the Porter House building located in New York City's meatpacking district. He bought these units between 2012 and 2014 for around $12.85 million. At one point, they were listed together for a total of $22 million. Additionally, he owns a 12,000-square-foot Georgian townhouse on the Upper East Side, which he snagged in 2011 for $23 million.
In 2014, Murdoch dropped $58 million on two units in the One Madison condo tower in NYC. He put these units up for sale in March 2022, asking for $78 million. They’re not combined, but there’s a chance to merge them with the building's approval. One of the units is a triplex that stretches from the 58th to the 60th floors, offering 7,000 square feet of living space, while the other unit is listed separately for $16 million.
Murdoch's real estate collection is nothing short of astounding.
Back in 2013, he dropped a whopping $28.8 million on a sprawling 16-acre vineyard estate in Bel-Air, Los Angeles. This place boasts a 7,500-square-foot main house with three bedrooms and four and a half baths. Plus, there’s a two-bedroom guesthouse and a spacious 4,400-square-foot office. The vineyard, called Moraga Vineyards, is an operational vineyard, and the previous owners used that office as their winery sales hub. To top it all off, there’s a huge wine cave on the property.
The following year, he expanded his New York real estate portfolio by snagging a 6,850-square-foot quadruplex penthouse in the One Madison Building, just a short walk from Madison Square Park. He shelled out $57.25 million for this prime spot.
Fast forward to December 2021, when Rupert made headlines by purchasing a massive 340,000-acre ranch in Montana for $200 million, previously owned by the Koch family for many years. This deal marked the largest ranch sale in Montana's history, both in size and price. The Beaverhead Ranch stretches over 50 miles from north to south across two counties and includes two dozen homes for ranch staff.
Then in February 2023, Rupert picked up a full-floor, 6,500-square-foot apartment on Central Park South, which was listed for $30 million. The seller? The estate of the late hedge fund manager Julian Robertson.
LATEST: Richard Hammond's Net Worth: $45 Million in 2024.
Rupert Murdoch’s legacy is as polarizing as it is influential. While he built one of the most powerful media empires in the world, his career has been marred by significant controversies. From allegations of unethical practices like phone hacking to accusations of using his outlets for political manipulation, Murdoch’s impact often sparks heated debates.
Critics argue that his focus on profit and influence has, at times, undermined journalistic integrity. Furthermore, his role in sensationalizing news and deepening political divides leaves a lasting shadow over his accomplishments. For many, Murdoch’s legacy remains a complex mix of innovation and controversy.
