What is Rupert Murdoch’s Net Worth? – Rupert Murdoch, an Australian-born American business magnate, media proprietor, and investor, has left an indelible mark on the global media landscape through his company News Corp.
This media conglomerate encompasses hundreds of publishing outlets worldwide, including prominent names such as The Sun and The Times in the UK, The Daily Telegraph, Herald Sun, and The Australian in Australia, and The Wall Street Journal and the New York Post in the US.
Additionally, News Corp owns the esteemed book publisher HarperCollins and television broadcasting channels like Sky News Australia and Fox News (through the Fox Corporation). In his illustrious career, Murdoch also owned Sky until 2018, 21st Century Fox until 2019, and the now-defunct News of the World.
What is Rupert Murdoch’s Net Worth?
As of 2023, Rupert Murdoch was known to have garnered massive wealth. According to Forbes, he has an estimated net worth of $21.7 billion.
In 2003, Rupert Murdoch acquired “Rosehearty,” an 11-bedroom mansion situated on a 5-acre waterfront estate located in Centre Island, New York. In May 2013, he invested in the Moraga Estate, which encompasses a substantial estate, vineyard, and winery in Bel Air, Los Angeles, California.
In 2019, along with his spouse, Jerry Hall, Murdoch purchased Holmwood, an 18th-century residence and estate nestled in the English village of Binfield Heath, approximately 4 miles (6.4 km) to the north-east of Reading.
Murdoch’s journey in the media realm began after he assumed control of The News, a small Adelaide newspaper owned by his father, following his father’s passing in 1952. In the subsequent decades, he embarked on a path of expansion, acquiring newspapers in Australia and New Zealand during the 1950s and 1960s.
In 1969, Murdoch made a significant move by venturing into the United Kingdom, where he took over the News of the World and, shortly after, The Sun. In 1974, he made another pivotal shift by relocating to New York City, aiming to conquer the US media market. Nevertheless, Murdoch maintained his interests in Australia and the UK. His media empire continued to grow with the acquisition of The Times in 1981, marking his foray into the British broadsheet domain. To facilitate his ownership of a US television network, Murdoch became a naturalized US citizen in 1985, relinquishing his Australian citizenship.
In his quest to embrace emerging electronic publishing technologies, Murdoch streamlined his UK printing operations to London in 1986, which led to contentious labor disputes. His holding company, News Corporation, went on to acquire Twentieth Century Fox in 1985, HarperCollins in 1989, and The Wall Street Journal in 2007. Murdoch’s media footprint extended further as he founded the British broadcaster BSkyB in 1990 and expanded into Asian networks and South American television during the 1990s. By the year 2000, News Corporation, under Murdoch’s leadership, had a presence in over 800 companies across more than 50 countries, amassing a net worth exceeding $5 billion.
In July 2011, Rupert Murdoch found himself at the center of controversy when allegations emerged that his companies, including the News of the World under News Corporation’s ownership, had been engaged in widespread phone hacking of celebrities, members of royalty, and ordinary citizens. This scandal prompted investigations by both British authorities, probing bribery and corruption, and the FBI in the United States. On July 21, 2012, Murdoch resigned from his position as a director of News International.
Throughout his career, many of Murdoch’s newspapers and television channels have faced criticism for their alleged biased and misleading coverage, purportedly in support of his business interests and political allies. Some have attributed his influence to significant political developments in the UK, US, and Australia.
In a surprising development in September 2023, Rupert Murdoch announced his decision to step down as chairman of Fox Corp. and News Corp., marking the end of an era in his influential media empire.
Source: www.ghgossip.com
