Rupert Murdoch Net Worth 2023: Exploring The Wealth of American Business Magnate As He Steps Down As Chairman of Fox and News Corp

Keith Rupert Murdoch commonly known as Rupert Murdoch is a media baron who hailed from Australia and went on to create one of the biggest Media conglomerates IN America. He was born in Melbourne, Victoria, Australia on March 11, 1931. Rupert started the global media holding company News Corporation Ltd.—often called News Corp in 1979.

The media house focused on publishing and also amalgamated media and television holdings to create the entity called 21st Century Fox. The entity was sold off and it led to the creation of Fox Corporation, which included Fox News and other TV channels.

Table of Contents

Ruper Murdoch’s Journey

The Beginning

Keith Rupert Murdoch was born to Sir Keith Murdoch and started his career as a war correspondent. He completed his college education at Worcester College, Oxford (M.A., 1953), and for some time held the position of an editor with Lord Beaverbrook’s London Daily Express. It served as a platform for experiments and Rupert gained his first exposure to sensationalist journalism which became his trademark in the later part of his career.

After the demise of his father, he returned to Australia in 1954 and took the reins of the Sunday Mail and The News, both of Adelaide.

Under his tutelage both the papers underwent a huge transformation with the focus on sensationalism dominated by news of sex and scandal, often writing its banner headlines himself.

Rupert Murdoch

The circulation of the papers increased dramatically and he also bought a number of papers that were published in Sydney, Perth, Melbourne, and Brisbane.

Acquisitions Spree

News of the World of London was the first paper he bought in Great Britain in 1969 and again the paper went for a transformation with a focus on crime, sex, scandal, and human-interest stories.

His papers had a judicious mixture to cater to every taste including boldface headlines, and also focused on sports in a big way.

His sure shot formula led to a huge surge in circulation of both News of the World and The Sun, a London daily that he acquired the following year.

He entered the American scene with the purchase of two San Antonio, Texas, dailies, one of which—the San Antonio News (later the Express-News). Again he transformed the paper and sex and scandal became the staple content of the newspaper.

Rupert Murdoch followed it with the creation of a weekly sensationalist tabloid, the Star, and in 1976 he purchased the afternoon tabloid New York Post, which he sold in 1980’s before repurchasing it 1993. He made millions as profit in both the sales.

His other acquisitions included Boston Herald American from the Hearst Corporation in 1982 which he renamed as Boston Herald.

Rupert Murdoch bought and later sold the Chicago Sun-Times, the New York City Village Voice, and New York magazine. He started living in the US and in 1985 became a naturalized U.S. citizen.

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More Acquisition, More Diversification

In the 1980’s and 90’s Murdoch went into an acquisition spree and bought an interest in communications ventures, including radio and television stations and video, film, and record companies, as well as book publishing. However,

the slew of purchases created a financial crisis and Murdoch had to sell a number of assets to cater to his debt obligations.

Rupert Murdoch Steps Down As Chairman of Fox and News Corp

Now Rupert Murdoch has finally hung his boots after an eventful career spanning more than seven decades. He created a media conglomerate of gigantic proportions and his empire spread from Australia, Asia to the United States.

Rupert Murdoch Net Worth

Rupert gave the mantle to his son Lachlan Murdoch who will become the sole chairman of News Corp and continue as the chair and CEO of Fox, the companies said on Thursday.

How Much Is Ruper Murdoch’s Net Worth In 2023?

Rupert Murdoch’s media empire is gargantuan by any measure and as per the latest estimate by Bloomberg, his net worth is to the tune of a massive $8.3 billion.

Name Keith Rupert Murdoch
Born 11 March 1931 (age 92)
Place of Birth Melbourne, Victoria, Australia
Citizenship Australia (until 1985), United States (from 1985)
Education Worcester College, Oxford (BA)
Occupations Businessman, media proprietor, investor
Years active 1952−present
Posts Held Chairman and CEO of News Corporation (1980–2013)
Executive chairman of News Corp (2013–2023)
Chairman and CEO of 21st Century Fox (2013–2015)
Executive co-chairman of 21st Century Fox (2015–2019)
Acting CEO of Fox News (2016–2018)
Chairman of Fox News (2016–2019)
Chairman of Fox Corporation (2019– 2023)
Board member of News CorpFox Corporation
  Spouses Patricia Booker (1956-1967)​
Anna Maria Torv (1967-1999)​
Wendi Deng (1999-2013)​
Jerry Hall (2016-2022)​
Children 6, including Prudence, Elisabeth, Lachlan, and James
Parents Keith Murdoch
Elisabeth Greene
Relatives Ivon Murdoch (uncle)
Patrick John Murdoch (grandfather)
Walter Murdoch (grand-uncle)
Family Murdoch family
Awards Companion of the Order of Australia (1984)

FAQs

Who is Rupert Murdoch?

Rupert Murdoch, also known as Keith Rupert Murdoch, is a media magnate from Australia.

What is News Corporation Ltd., and when was it founded?

News Corporation Ltd., often referred to as News Corp, is a global media holding company founded by Rupert Murdoch in 1979.

What is Rupert Murdoch’s estimated net worth in 2023?

As of 2023, Rupert Murdoch’s estimated net worth is a massive $8.3 billion, according to Bloomberg.


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