Rupert Murdoch Net Worth: Media Mogul And Fox Head Is 25th Richest In US

Rupert Murdoch’s $18.2 billion net worth is good for the 28th spot on the richest list in the U.S. This is how the media mogul amassed his wealth.

Murdoch has built a media empire that controls TV and print, which includes Fox News, The Times of London and The Wall Street Journal. He is the son of a former war correspondent and newspaper publisher which could have influenced his career. At 22 years old, he was thrust into leading a newspaper company after his father passed away.

Forbes reported that in 2019, the media mogul sold Fox movie studios FX and National Geographic Networks to Disney for $71 billion. Comcast actually offered a significantly higher deal on the table to buy 21st Century Fox but Murdoch chose Disney due to his ties with then CEO Bob Iger. In the end, Disney had to bump its offer closer to the final amount.

His foray into media jump started in 1985 after the purchase of 20th Century Fox Film Corp. According to Biography, under his watch, the company expanded its offerings to Fox News. The Australian billionaire’s family members gained their own wealth after the 89-year-old decided to split his fortune among his six children. With Murdoch family’s estimated fortune pegged at $20.9 billion, the New York Post owner still has more than $7 billion left.

In a Business Insider report, the Oxford graduate owned about two-thirds of the media market in Australia. Because of his media empire, Murdoch used that influence to support some political figures in the past. However, this also put his business in hot water after a 2010 article exposed Murdoch’s papers alleged hacking of British celebrities and royals.

Murdoch’s News of the World admitted the allegations a year after and had to testify. In 2015, Donald Trump informed Murdoch of his plans to run for the presidency over lunch. The Melbourne, Australia native was actually against Trump at the beginning but eventually supported him over the years.

On the personal side, the multibillionaire has been married four times and has six children. Murdoch’s son, Lachlan Murdoch, now runs the Fox Corporation, which includes cable news, sports and business departments, a report from Forbes revealed. He lives in a Bel-air estate, which is worth around $28.8 million. He also owns an apartment in New York that carries a price tag of $57 million, on top of several real estate assets scattered all over the world.