Rupert Murdoch, the Australian-born media mogul, has amassed a substantial fortune over his career. As of 2024, his net worth is estimated to be $19 billion. His wealth stems from founding and building News Corp, a global media conglomerate. Although he was born in Australia, Murdoch became a US citizen in 1985, renouncing his Australian citizenship to expand his business operations in the United States.
How Did Rupert Murdoch Build His Media Empire?
Murdoch’s journey began with a small newspaper in Adelaide. He successfully transformed this publication into a thriving business, which laid the foundation for his future ventures. His early career saw him acquiring struggling newspapers and turning them into profitable entities. Murdoch’s international expansion began in the 1960s and 70s, acquiring “News of the World” and “The Sun” in the UK.
In the United States, he purchased the “San Antonio Express-News” in 1973, followed by the “New York Post” in 1976. His acquisition spree continued into the 1980s, including significant investments in the television industry, notably the formation of the Fox Broadcasting Company in 1986. These strategic moves solidified his influence in the media world.
What Was the Impact of the Disney Acquisition on Murdoch’s Wealth?
In 2019, Disney acquired 21st Century Fox for $71 billion. This deal significantly impacted Murdoch’s wealth, leaving him with approximately $12 billion in Disney stock. Additionally, Murdoch retained a 39% stake in the newly formed Fox Corporation, which includes notable assets such as Fox News and The Wall Street Journal. This stake is valued at around $4 billion, adding to his substantial net worth.
How Has Rupert Murdoch’s Real Estate Portfolio Grown Over the Years?
Murdoch’s real estate holdings are as impressive as his media empire. In 2015, he sold a Beverly Hills home to his son for $30 million, a property spanning over 8,651 square feet with 11 bedrooms. He owns multiple units in New York City’s Porter House building, purchased between 2012 and 2014 for a combined total of $12.85 million.
In 2014, Murdoch acquired two units in NYC’s One Madison condo tower for $58 million, later listing them for $78 million. He also owns a 16-acre vineyard estate in Bel-Air, purchased for $28.8 million in 2013, featuring a 7,500-square-foot main house and a working vineyard.
One of his notable acquisitions is a $200 million, 340,000-acre ranch in Montana, bought in December 2021. This property, the largest ranch sale in Montana’s history, includes two dozen homes and extensive land.
Who Has Rupert Murdoch Been Married To?
Rupert Murdoch has been married four times. His first marriage to Patricia Booker lasted from 1956 to 1967. He then married Anna Murdoch Mann in 1967, a union that ended in 1999 with a significant $1.7 billion divorce settlement. Murdoch married Wendi Deng just 17 days after his divorce from Anna, and their marriage lasted until 2013. His fourth marriage was to Jerry Hall in 2016, but they announced their divorce in June 2022.
How Has Rupert Murdoch’s Family Influenced His Business?
Murdoch has six children, many of whom have played roles in his business empire. His children have benefited from his wealth, especially following the Disney acquisition. Their involvement in his companies highlights the family’s significant influence within the media industry.
What Controversies Has Rupert Murdoch Faced?
Murdoch has faced several controversies throughout his career. In 2011, he was accused of hacking into the phones of celebrities, politicians, and royalty. This scandal led to investigations by the British government and the FBI, resulting in Murdoch stepping down from his role as director of News International. He was also implicated in the Theranos scandal, where he invested in the fraudulent blood-testing company.
How Does Rupert Murdoch’s Influence Extend Globally?
Murdoch’s media influence extends globally through his ownership of various notable outlets, including Fox News, The Wall Street Journal, The Times, Sky News Australia, and HarperCollins. His strategic acquisitions and business moves have made him one of the most influential figures in the media industry worldwide.
What Is Rupert Murdoch’s Legacy?
Rupert Murdoch’s legacy is defined by his transformation of the media landscape. From a small newspaper in Adelaide to a global media empire, his career is marked by strategic acquisitions and influential media properties. Despite controversies, his impact on the media industry remains significant, with a net worth reflecting his successful ventures and lasting influence.
