Rupert Murdoch Net Worth

net worth:	$9 billion
age:	93
Date of Birth:	March 11, 1931
gender:	male
high:	1.78 m (5 ft 10 in)
country of origin:	Australia
Source of wealth:	entrepreneur
Last updated:	August 12, 2024

introduce

Keith Rupert Murdoch’s net worth is estimated to be around $9 billion.

Keith Rupert Murdoch is an Australian-American media mogul who, after his father’s death in 1952, refused to join his late father’s registered public company and instead founded his own private company, News Corporation.

He went on to create the world’s largest news media empire, with News Corporation being the owner of prominent national newspapers in the United States, Australia and the United Kingdom, including publications such as the New York Post and the Wall Street Journal. He is also the owner of several local newspapers and television stations and is widely credited as the inventor of the modern tabloid.

early life

Keith Rupert Murdoch was born on March 11, 1931 in Melbourne, Victoria. Murdoch is the son of Sir Keith Murdoch and Dame Elizabeth Murdoch. He is of English, Irish and Scottish descent. Murdoch’s parents were also born in Melbourne.

Keith Murdoch is a former war correspondent turned regional newspaper magnate who owns two newspapers in Adelaide, South Australia, a radio station in a remote mining town and is chairman of the powerful Herald and Weekly Times Group.

Profession

Murdoch took over New Ltd in 1952 after his father’s death. After Murdoch took over, one of its newspapers, The Adelaide News, became one of the most widely read newspapers and led the Adelaide tabloid to dominate print media in this part of Australia. This was the beginning of an empire that would dominate the entire English media landscape for decades to come.

He also successfully expanded his holdings in media companies across Australia. In 1964, during a trip to New Zealand, Rupert learned of a bid for the Wellington newspaper, The Dominion.

In 1968, the Australian media tycoon entered the UK market, taking over the News of the World and the following year acquiring the then-struggling national daily The Sun. The Sun started out as a long-running broadsheet, but was shortened to a tabloid format and printed at the same printer to cut costs. The Sun’s focus on sensational reporting on controversial topics saved the paper from financial trouble and helped kick-start the popularity of tabloids in the UK, which still make up the lion’s share of the country’s print media.

The businessman attracted attention when he introduced electronic publishing in the London borough of Wapping in 1986. These processes did not require as much manpower as before, so the company shrunk in size.

Murdoch’s first acquisition in the United States was in 1973, when he bought the San Antonio Express-News, and three years later the New York Post. In 1986, he took control of 20th Century Fox (later known as 21st Century Fox) and conducted most of his commercial activities in the United States through the company. In 1993, his Fox Network took over the broadcasting rights of the National Football League from rival CBS.

In 2014, 21st Century Fox attempted to acquire Time Warner but was rejected. Currently, the management of most of Murdoch’s companies is controlled by his youngest son, James Murdoch.

Until 2018, he was the owner of Sky Group, which includes some of the most prominent publications in Australia and the UK, including Sky News, Sky News Australia and Sky Sports. Murdoch’s 21st Century Fox’s remaining stake in Sky was sold to Comcast for $15 billion.

Murdoch is currently best known as the chairman of Fox Group, an American media giant that owns Fox News, Fox Business and Fox Sports. He is currently ranked 272nd on the Bloomberg Billionaires Index.

Rupert Murdoch has a net worth of $9 billion.

Personal life

Murdoch renounced his Australian citizenship in the 1980s and became a U.S. citizen, which allowed him to bring profits to more shareholders and expand his empire. He was married four times and divorced his fourth wife, Jerry Hall, in 2022. He has six children, including well-known figures such as son James and daughter Prudence Murdoch.

Highlights

Here are some highlights from Rupert Murdoch’s career:

Executive of The Herald and The Weekly Times
Murdoch acquires The Times (1981)
Murdoch acquires Dow Jones & Co., publisher of The Wall Street Journal (2007)
Murdoch sells most of 21st Century Fox’s entertainment assets to Disney for $71.3 billion (2019)
Chief Executive Officer, Fox Corporation (2019-Present)

Rupert Murdoch’s Favorite Quotes

“Climate change poses a clear and catastrophic threat. We may disagree about its severity, but we simply cannot afford not to act.” – Rupert Murdoch

“You can’t build a strong company by having lots of committees and a board that you consult on everything. You have to be able to make your own decisions.” – Rupert Murdoch

“As an immigrant, I choose to live in the United States because it is one of the freest and most vibrant countries in the world. As an immigrant, I feel an obligation to speak out for immigration policies that make the United States the most economically robust, creative, and freedom-loving country in the world.” – Rupert Murdoch

“The Internet is the most fundamental change in my lifetime and in hundreds of years. Someone said the other day, “It’s the greatest invention since Gutenberg,” and then someone else said, “No, it’s the greatest invention since the invention of writing.” – Rupert Murdoch

“The Internet is the most fundamental change in my lifetime and perhaps in hundreds of years.” – Rupert Murdoch

3 business lessons from Rupert Murdoch

Let’s look at some of the lessons we can learn about business from him:

1. Seize the opportunity

Murdoch said timing was crucial when it came to succession planning. “We always tell our clients that the earlier you start preparing, the better,” he said.

“The longer you communicate your succession plan and embed it structurally in the company, the better it is for employees, the board, stakeholders and the company.”

For much of his career, Murdoch has had impeccable timing, whether it was launching Australian newspapers to the top of the sales charts or buying struggling titles such as The Sun at attractive prices and turning them into powerful forces in the media world.

Finally, in the United States, he built the Fox empire from scratch, founded multiple cable TV networks, and eventually became a giant that controlled most of the news and entertainment industry in the United States. He sold some of his investments at the peak of his success, the best example being the sale of 21st Century Fox to Disney in 2019.

2. Be prepared for challenges

Succession planning is complex and is doubly so for family businesses. Murdoch says family businesses face unique challenges because family dynamics also come into play. “Often there are family issues to consider and that overshadows business issues,” he says.

“If you’re handing something off to a non-family member, then it’s really a business transaction, but if it’s a family member, you have to consider sibling rivalry and emotional factors and so on.”

Throughout his career, Murdoch has never shied away from a challenge, finding opportunities in struggling media outlets that he knew would require a significant investment of time and effort to turn profitable. Another example is News Corp Australia, which he started with a small network of daily newspapers.

3. Communicate clearly

Murdoch says it is important for business owners to implement succession plans with clear communication to all employees and stakeholders. “Allow adequate time for transition plans to work and ensure clear communication of what is happening and why,” he says.

It should come as no surprise that Rupert Murdoch is a master communicator. After all, it’s his main source of income! By running multiple media companies and delivering domestic and international news, the former CEO of 21st Century Fox is arguably the most influential figure in the world when it comes to disseminating information and entertainment. You can’t achieve this if you don’t clearly communicate your expectations and desires!

Frequently asked questions

How much is Rupert Murdoch worth?

Rupert Murdoch’s net worth is estimated at $9 billion.

How old is Rupert Murdoch?

Rupert Murdoch was born on March 11, 1931 and is now 93 years old.

How tall is Rupert Murdoch?

Rupert Murdoch’s height is 1.78 meters, which is equivalent to 5 feet 10 inches.

Summary

Rupert Murdoch is a well-known Australian businessman, famous for founding News Corporation. After his father’s death, he began to acquire some struggling small newspapers in Australia. His first overseas investment was the acquisition of the New Zealand newspaper The Dominion.