Entrepreneurship

What Happened To Rupert Murdoch

Are you wondering what happened to Rupert Murdoch, The 90-year-old Media Mogul? He is still running his global empire and is showing no signs that he is looking to slow down.

Where Is Rupert Murdoch Now?

Rupert Murdoch is currently staying with Jerry Hall, his wife who was a model at Holmwood House. This property is located near Henley on the Thames and was purchased by Rupert for £11.25m a couple of years ago. He has been living here during the pandemic and is extremely fit. He is still conducting meetings by following covid protocol and talking and engaging in things while staying updated about his business.

What Happened to Rupert Murdoch?

Murdoch is still an Executive Chairman to News Corp which owns The Sun, The Wall Street Journal, The Australian, and The Times. He is also the Co-Chairman of Fox Corporation which broadcasts NFL Games and FOX News. Rupert still controls his formidable media empire.

UK Scandal

Rupert’s UK operation of news which is Fox now was almost ruined due to the scandal of phone hacking a while back. He however pulled through and the company is now run by Lachlan, his oldest son. Fox is a commercial entity that is led by Fox News. Fox News enjoyed high ratings when Trump was President. Most people believe it is impossible to own any subscription of cable without buying Fox or Fox News since they broadcast the NFL.

Fox News is currently facing a lot of issues. They are currently looking at a billion-dollar lawsuit fighting allegations that they promoted theories about the US election being rigged and have promoted Newsmax and One America News Network. However, Rupert who is battle-hardened is probably not concerned about these lawsuits.

The Disney Deal

Rupert has enjoyed immense commercial success with Fox but he still has a problem which is scale. Currently, Fox’s value is $22 billion but its competitors AT&T and Disney are valued at $200 billion and $350 billion. Rupert bid to acquire Time Warner in 2014 for $80 billion but he lost the bid.

Rupert realized his limitations in 2017 when it comes to global entertainment. He sold 21st Century Fox which made The X-Men, The Simpsons, Avatar for $71 billion to Disney. He gave all of his children $2 billion from the money he made with the deal. At the time, Rupert said in an interview that he was not retreating. He was pivoting at an important moment.

Source: Getty Images

What Happens After The Rupert Era Ends?

After Rupert passes away, the family trust which has 40% voting shares in Fox corporation and News Corp will be split equally between his four oldest children. Chloe and Grace, his youngest daughters will be financial beneficiaries. Rupert’s Mom, Dame Elisabeth had lived until she was 103, so Rupert could still have a lot of time to make deals, reshape his family empire and avoid division of his companies after he passes on. He can still ensure the coming generation keeps the legacy of the Murdoch name intact.

We hope we answered your question about what happened to Rupert Murdoch. He is fit and kicking at 90 and continues to lead his empire powerfully.

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