Last Updated on January 15, 2024 by Ben
Rupert Murdoch is a media tycoon and businessman who has acquired a staggering net worth of almost $23.3 billion throughout his career. He has numerous significant media businesses under his control, including Fox News, The Wall Street Journal, and HarperCollins, making him one of the most significant individuals in the media business today. His fortune has allowed him to leave a lasting family legacy and donate to charities worldwide.
What is Rupert Murdoch’s Net Worth and Salary?
As the creator of News Corp., Australian media tycoon Rupert Murdoch amassed an estimated $9 billion in wealth. He has grown to be one of the most influential people in the world today thanks to his ownership of several publishing companies, including Fox News, The Wall Street Journal, The Daily Telegraph, The Times, Sky News Australia, and HarperCollins.
He began to experience financial success when he purchased a small newspaper in Adelaide. His success subsequently spread to other nations, and by 1985, he had become a naturalized US citizen.
Since that time, Murdoch’s net worth has increased dramatically. In 1990, he was the 60th richest person on the planet with a net worth of $1.1 billion, and by 1996, it had increased to $3.2 billion, ranking him 85th. With 800 businesses scattered across 50 nations, News Corp. had an estimated value of over $5 billion in 2000.
Murdoch didn’t officially join the billionaire club until 2003, when he declared his net worth reached $5.4 billion. Four years later, though, it had dropped to barely $6.3 billion.
Keith Rupert Murdoch, born on March 11th, 1931, in Melbourne, Australia, succeeded his father in running “The News,” an Adelaide daily after the latter passed away when Keith was just 21.
Murdoch had such an astute business sense that he could make a tiny local paper successful throughout Australia and even acquired several other magazines nationwide.
Murdoch first focused on struggling British magazines like “News of the World” and “The Sun” after founding “The Australian,” an Australian daily.
Under his management, these publications prospered, much like “The News” in Australia. Rupert entered the US market by purchasing the “San Antonio Express-News” in 1973, his first US-based newspaper and he bought the legendary “New York Post” the following year.
Murdoch’s acquisition binge got going in the 1980s when he paid $250 million to Marvin Davis to buy Marc Rich’s stake in 20th Century Fox. This was because Rich had been involved in trade agreements with Iran that we had sanctioned at the time.
Murdoch acquired all six independent television stations from John Kluge, the 1990’s richest man, to establish Fox Broadcasting Company, which was established in 1986 and swiftly rose to the top of the American media landscape. He later paid an extra $326 million to acquire Davis’ share in Fox, adding to his initial investment.
With a 17% ownership in the company, Murdoch received over $12 billion in Disney stock when Disney paid a record $71 billion to acquire 21st Century Fox in 2019. Murdoch’s six children also profited handsomely from the transaction, adding to his fortune, as each received a gift of $10 billion.
Murdoch also acquired a 39% stake in the newly established Fox Corporation, including well-known companies, including The Wall Street Journal, New York Post, and Fox News. This 39% share is expected to be valued at roughly $4 billion in 2020.
Murdoch has been married four times; his first union lasted from 1956 to 1967 with Patricia Booker; the second, from 1967 to 1999, with Anna Murdoch Mann; the third, from 1999 to 2013, with Wendi Deng; and the fourth, in 2016, with Jerry Hall. After six years of marriage, Rupert and Jerry Hall announced this year that they would be divorcing.
In addition, Murdoch is the father of four kids, all of whom have succeeded in the companies he owns.
Rupert was charged with being the mastermind of a phone-hacking incident in 2011 directed at powerful politicians, nobility, and celebrities. Following an investigation into these claims by the FBI and the British government, he was charged with bribery and corruption and forced to retire as director of News International.
Murdoch was also one of many investors duped by the infamous “Theranos” fraud, orchestrated by Elizabeth Holmes, who claimed to have developed a technology that would allow many blood tests to be performed on a single sample, even though no such technology ever existed.
Rupert Murdoch’s $30 million Beverly Hills residence was sold to his son James in 2015 for $5 million less than the asking price. James expressed his intention to maintain the property’s historical integrity as he envisioned future modifications because the 8,651 square-foot mansion was built in the 1920s and featured eleven bedrooms.
Murdoch also owns a 12,000-square-foot Georgian townhouse in the Upper East Side purchased in 2011 for $23 million, three units in New York City’s Porter House building bought between 2012 and 2014 for a total of $12.85 million, and later combined into one listing worth $22 million; two units in NYC’s One Madison condo tower bought for $58 million altogether in 2014 and later put up for sale at the asking price of $78 million, one of them being a penthouse; and a
Next, Rupert spent $28.8 million on a 16-acre vineyard estate in Bel Air, including a 7,500-square-foot main house, a two-bedroom guesthouse, and 4,400 square feet of office space. Next, he spent $57.25 million on a 6,850-square-foot quadruple penthouse that spanned almost all floors of the One Madison Building.
Finally, he spent an astounding $200 million on a 340,000-acre ranch in Montana called Beaverhead. His spectacular real estate holdings reached their height when he paid another sizable sum early this year to acquire a full-floor apartment on Central Park South from the estate of late hedge fund investor Julian Robertson. The cost was approximately $30 million.
Pros and Cons Of Rupert Murdoch’s Net Worth
- Rupert Murdoch has a net worth of $17.7 billion, which places him among the wealthiest people in the world and gives him access to several significant business opportunities, investments, and charitable endeavors.
- Throughout his long career in various media outlets over four decades, he has built an impressive and significant international portfolio that ranges from Europe to the United States, Australia, and beyond.
- Murdoch founded and presently serves as chairman of News Corporation, which holds a significant portion of his wealth.
- The homogeneous control of the media at all levels can significantly affect the person’s right and freedom of speech. Murdoch’s authority also means that critics are questioning how much control he has over media regulation and coverage, especially when compared to publicly owned businesses with various interests and owners.
- His monopoly on the market has sparked concerns about variety and competitiveness in the industry, particularly in light of potential mergers or acquisitions involving his company.
Final Thought – Rupert Murdoch Net Worth
Rupert Murdoch’s wealth reflects his daring business ventures and significant influence in the media sector. His riches have given him the ability to significantly impact world culture while raising concerns about how much power one person should have over the media.
Although many still find inspiration in his accomplishment, it also serves as a stark reminder of the necessity of regulation and ownership restrictions to preserve press freedom and healthy competition.