Rupert Murdoch, a media mogul with a net worth of approximately $19 billion as of 2024, remains a dominant force in global media. Born on March 11, 1931 (age 93), in Melbourne, Australia, Murdoch built his empire from a single newspaper into a vast media conglomerate. His influence spans print, television, and digital media, making him one of the most powerful figures in the industry.
How Did Rupert Murdoch Build His Media Empire?
Murdoch’s journey began in 1952 when he inherited a small newspaper, The News, in Adelaide, Australia, following his father’s death. He quickly turned the publication into a success and expanded aggressively, acquiring multiple newspapers across Australia, the UK, and the US.
Some of his most notable acquisitions include:
- News of the World (UK) in 1969
- The Sun (UK) in 1969
- New York Post (USA) in 1976
- The Times (UK) in 1981
- The Wall Street Journal (USA) in 2007
His most transformative move came in 1985, when he became a U.S. citizen, allowing him to own American television stations. This led to the founding of Fox Broadcasting Company in 1986, which later launched Fox News, a major player in U.S. media.
What Was the Impact of the Disney-Fox Deal?
In 2019, Rupert Murdoch sold 21st Century Fox to Disney for $71 billion. As a result, Murdoch and his family received a massive financial windfall. He personally retained a 17% stake, which translated into $12 billion in Disney stock. His six children also received $10 billion from the deal.
After the sale, Murdoch retained control of Fox Corporation, which owns:
- Fox News
- Fox Sports
- The Wall Street Journal
- The New York Post
- The Times of London
His 39% stake in Fox Corporation today is valued at approximately $4 billion.
What Are Murdoch’s Major Real Estate Investments?
Murdoch has amassed an extensive real estate portfolio, including multi-million-dollar properties in the U.S. and Australia. Some of his notable purchases include:
- New York City: A $23 million Georgian townhouse and multiple luxury apartments.
- Los Angeles: A 16-acre Bel-Air vineyard estate bought for $28.8 million in 2013.
- Montana: The 340,000-acre Beaverhead Ranch, purchased for $200 million in 2021, making it the largest ranch sale in Montana history.
- Central Park South, NYC: A 6,500-square-foot apartment bought for $30 million in 2023.
What Were Murdoch’s Marriages and Divorce Settlements?
Murdoch has been married four times:
- Patricia Booker (1956–1967)
- Anna Maria Torv (1967–1999) – Divorce settlement: $1.7 billion
- Wendi Deng (1999–2013)
- Jerry Hall (2016–2022)
His $1.7 billion settlement with Anna Murdoch remains one of the largest divorce settlements in history.
How Has Murdoch Influenced Politics and Media?
Murdoch’s media empire has been highly influential in shaping political discourse, particularly in the US, UK, and Australia. His outlets, including Fox News, have played a crucial role in political campaigns, supporting conservative candidates and policies. His newspapers have been accused of bias and sensationalism, often influencing elections and public opinion.
What Controversies Has Rupert Murdoch Faced?
Murdoch’s career has not been without controversy. Some of the most significant issues include:
- Phone Hacking Scandal (2011): Murdoch’s UK newspapers were found guilty of hacking the phones of celebrities, politicians, and even crime victims. The scandal led to criminal investigations in both the UK and the US, forcing Murdoch to step down from certain leadership roles.
- Theranos Investment Loss: Murdoch was among the high-profile investors deceived by Elizabeth Holmes’ fraudulent company, Theranos. He lost $125 million in the failed venture.
What Is Rupert Murdoch’s Legacy?
Rupert Murdoch has cemented himself as a media titan, shaping global news, politics, and entertainment for decades. His ability to adapt to new technologies and expand aggressively has allowed him to maintain relevance despite the shifting media landscape.
Despite controversies and criticism, his impact on journalism and media cannot be ignored. His legacy will likely continue through his children, some of whom have taken leadership roles within Fox Corporation and News Corp.
