Rupert Murdoch, an Australian-born media mogul, has amassed a staggering net worth of $19 billion. He built his wealth through the founding and expansion of News Corp, becoming one of the most influential media figures worldwide. Despite being born in Australia, Murdoch became a US citizen in 1985, subsequently renouncing his Australian citizenship for business reasons. He owns numerous notable media outlets, including Fox News, The Wall Street Journal, and Sky News Australia.
How Did Rupert Murdoch Start His Career?
Keith Rupert Murdoch was born on March 11, 1931, in Melbourne, Australia. At the age of 21, following his father’s death, Murdoch took over the family business, managing “The News,” a newspaper in Adelaide. He successfully turned the publication around, leading to the acquisition of other newspapers across Australia. His career then expanded internationally, focusing heavily on markets in the United Kingdom and the United States.
What Major Acquisitions Has Rupert Murdoch Made?
Murdoch’s acquisition journey began in Australia, where he set up “The Australian.” He then expanded to the UK, purchasing struggling publications like “News of the World” and “The Sun,” transforming them into successful businesses. In 1973, he made his first US acquisition, the “San Antonio Express-News,” followed by the “New York Post” in 1976.
The 1980s marked a significant period of acquisition for Murdoch. In 1984, he bought a stake in 20th Century Fox from Marc Rich for $250 million. He then purchased independent TV stations from John Kluge, forming the backbone of Fox Broadcasting Company, which quickly became a major media entity.
How Did the Disney Acquisition Impact Murdoch?
In 2019, Disney acquired 21st Century Fox for $71 billion. Rupert Murdoch held a 17% stake in Fox, resulting in about $12 billion in Disney stock. His children also benefited, receiving $10 billion from the sale. Post-acquisition, Murdoch retained a 39% stake in the newly-formed Fox Corporation, valued at around $4 billion.
What Are Some Notable Real Estate Investments by Rupert Murdoch?
Rupert Murdoch’s real estate portfolio is extensive. In 2015, he sold a $30-million Beverly Hills home to his son James. In New York City, he acquired three units in the Porter House building for $12.85 million, later listing them for $22 million. Additionally, he owns a 12,000-square-foot Georgian townhouse on the Upper East Side, purchased for $23 million.
In 2014, Murdoch bought two units in NYC’s One Madison condo tower for $58 million. He listed these units for $78 million in 2022. One unit is a triplex spanning the 58-60th floors with 7,000 square feet of space.
Murdoch also owns a 16-acre vineyard estate in Bel-Air, Los Angeles, purchased for $28.8 million in 2013. The estate features a 7,500 square-foot main house, a two-bedroom guesthouse, and a 4,400 square-foot office space.
In 2021, Murdoch made history with the purchase of a 340,000-acre ranch in Montana for $200 million, the largest ranch sale in the state’s history. The property includes two dozen homes and spans more than 50 miles across two counties.
In 2023, he acquired a full-floor, 6,500 square-foot apartment on Central Park South for $30 million from the estate of the late hedge fund manager Julian Robertson.
Who Are Rupert Murdoch’s Family Members?
Rupert Murdoch has been married four times. His first marriage to Patricia Booker lasted from 1956 to 1967. He then married Anna Murdoch Mann from 1967 to 1999, followed by Wendi Deng from 1999 to 2013. In 2016, he married Jerry Hall, but they divorced in 2022. Murdoch has six children, many of whom have had successful careers within his various business enterprises.
What Was the Anna Murdoch Divorce Settlement?
Rupert Murdoch’s divorce from Anna Murdoch Mann in 2013 resulted in a $1.7 billion settlement. Just 17 days after the divorce was finalized, Murdoch married Wendi Deng.
What Controversies Has Rupert Murdoch Been Involved In?
In 2011, Murdoch was embroiled in a phone hacking scandal, accused of hacking into the phones of prominent figures, including royalty and politicians. He faced investigations by the British government and the FBI, as well as charges of corruption and bribery. This controversy led to his resignation as director of News International.
Murdoch was also a victim of the Theranos scandal, where Elizabeth Holmes falsely claimed to have developed revolutionary blood testing technology.
Conclusion
Rupert Murdoch’s journey from managing a small Adelaide newspaper to becoming a global media mogul is a testament to his business acumen and relentless pursuit of growth. With a net worth of $19 billion, Murdoch remains a pivotal figure in the media industry, continually influencing the landscape with his vast array of acquisitions and investments. Despite controversies, his impact on media and his extensive real estate portfolio underscore his significant presence in the business world.
Ann O. Laureano View all posts by
