Thursday, February 22, 2024
HomeEntertainmentRupert Murdoch Net Worth

Rupert Murdoch Net Worth

Australian media mogul Rupert Murdoch is a highly influential figure worldwide, with a net worth of $9 billion. Murdoch is renowned for founding News Corp, which owns several of the world’s most notable publishing outlets, such as Fox News, The Wall Street Journal, and The Times.

Although he started off as the owner of a small newspaper in Adelaide, Murdoch quickly transitioned into focusing on international markets, specifically in the United States. By 1985, he had become a naturalized US citizen for business reasons.

Murdoch’s wealth has been on the rise over the years, making him one of the richest people in the world. He had a net worth of $1.1 billion in 1990, making him the 60th-richest person globally. Six years later, Murdoch’s net worth had increased to $3.2 billion, ranking him as the 85th-richest person in the world. At the turn of the new millennium, his News Corp had over 800 companies across 50 countries and a total net worth of $5 billion.

By 2003, Rupert Murdoch was reportedly the 54th-richest person worldwide with a net worth of $5.4 billion. However, his position among billionaires began to slip, and in 2008 he was ranked as the 117th richest person globally with a net worth of $6.3 billion.

Murdoch’s career began when he took over managing “The News,” a newspaper his father set up in Adelaide. From there, he went on to acquire other newspapers across Australia before moving on to acquire publications in the UK, such as struggling papers “News of the World” and “The Sun.” Murdoch transformed these businesses into successful ventures, replicating the feat in the United States with the acquisition of “San Antonio Express-News” and “New York Post.”

During the 80s, Murdoch embarked on a massive acquisition spree, purchasing 20th Century Fox from Marvin Davis for $250 million and six independent television stations from John Kluge, the richest man in the world at the time. These formed the backbone of Fox Broadcasting Company, which was founded in 1986 and became one of America’s biggest media companies.

In 2019, Disney bought 21st Century Fox for $71 billion. Rupert held a 17% stake in Fox, and with the deal, he was left with about $12 billion in Disney stock, while an additional $10 billion from the sale went to his six children. Rupert also became a 39% owner of Fox Corporation, which owns the Wall Street Journal, New York Post, Fox News, Fox Broadcast Network, and The Times of London. His 39% stake is worth approximately $4 billion.

Murdoch has been married four times, with his previous marriages lasting several decades. He has four children, many of whom have successful careers within Murdoch’s various business enterprises.

Despite his impressive real estate portfolio overseas, including an NYC penthouse, multiple vineyards, and a ranch in Montana, Murdoch’s net worth has been on a steady decline over the years. In 2013, he paid Anna Murdoch Mann, his ex-wife of 32 years, a $1.7 billion divorce settlement. However, Murdoch has faced controversies throughout his career, including allegations of phone hacking, criminal charges of corruption and bribery, and losing millions in the Theranos scandal. Regardless of this, he remains one of the most influential figures in global media.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular