Lachlan Keith Murdoch is the eldest son of media baron Rupert Murdoch from his former wife Scottish journalist and author Anna Maria dePeyster, Lachlan Murdoch was born on 8 September 1971 at Wimbledon Hospital in Wimbledon, London.
He holds the position of executive chairman of Nova Entertainment. He is also the chairman of News Corp, the executive chairman and CEO of Fox Corporation and founded the Australian investment company Illyria Pty Ltd.
Lachlan Keith Murdoch was brought up in New York City and completed his primary and secondary education at multiple schools including Aspen Country Day School in Aspen, Colorado, Trinity School in New York City, and at Phillips Academy in Andover, Massachusetts.
He graduated in philosophy from Princeton University and his classmates were Béatrice Longuenesse and Alan Hajek.
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Lachlan Murdoch’s Career So Far
His career started when he was only 18 years old when his father Rupert Murdoch brought him to Australia. He trained for three months at Daily Mirror. His real test came when at 22 Lachlan was appointed the general manager of Queensland Newspapers, the publisher of Brisbane’s Courier-Mail.
Within a year he started publishing ‘The Australian’ which was the first Australian national newspaper. In 1995 he was appointed the deputy CEO of News Limited. In 1996 he donned the role of executive director of News Corporation and subsequently deputy chief operating officer in 2000. He is also the chairman of STAR since 1995.
He met Australian businessman James Packer, who is the son of Kerry Packer who encouraged him to invest in One.Tel which was a start-up telecommunications company.
He received a lot of flak when News Corporation’s multi-hundred-million-dollar investment was made in the startup company.
However, things turned nasty, and the start-up One.Tel tanked and finally in April 2014, Murdoch and Packer agreed to an A$40 million settlement which was approved by the Supreme Court of New South Wales.
The breakup of the settlement was as follows-
- A$14.93 million to be paid by the Packer family’s Consolidated Press Holdings
- A$11.77 million paid by Packer’s Crown Resorts
- A$13.3 million to be paid by News Corp
- Sudden Exit From News Corp
In July 2005 Lachlan Keith Murdoch quit as an executive at the News Corp. unexpectedly. No reason was given for this abrupt decision and the move also dashed the hope of Rupert Murdoch that his eldest son would take over the CEO post of the huge media empire which included the Twentieth Century Fox movie studio, Fox television network, several satellite broadcasters, and newspapers in Britain, Australia, and the United States.
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Private investment activities
After quitting News Corp Lachlan created an Australian investment entity named Illyria Pty Ltd. The investment company has varied interests and made a number of investments including Indian Premier League (IPL) cricket team Rajasthan Royals, online DVD rental company Quickflix, toy marketer Funtastic, and digital media company Destra.
In January 2008 Murdoch and James Packer unveiled a plan to privatize the publicly-listed Consolidated Media Holdings.
The deal worth a whopping A$3.3 billion will enable both Murdoch and Packer to the stakes in LLC and PBL Media, Universal Media Firm, Fox Sports, and Foxtel.
However things didn’t go as planned and eventually Packer sold his stakes and the deal with Murdoch came to an end.
Lachlan Murdoch Taking On As The New Chairman Of Fox and News Corp
Lachlan Murdoch is now going to handle the affairs at News Corp and Fox and will be the sole in charge of the media houses.
Murdoch is not new to this role and has for years guided the media behemoths with astute decision-making and augmenting the coffers with crucial and profitable deals for the companies.
An announcement to this effect was made by Fox and News Corp on Thursday which said that Rupert Murdoch who had been managing the affairs of the giant media behemoths will don the role of chairman emeritus of both companies.
This makes the 52-year-old Lachlan the sole chair of News Corp and the executive chair and chief executive of Fox.
Lachlan had earlier held the position of a co-chair for News Corp for nine years and also had a brief stint as publisher of the New York Post and four years as the CEO of Fox.
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How Much Is Lachlan Murdoch’s Net Worth In 2023?
Lachlan Murdoch’s Net Worth as per Forbes is to the tune of $4.8 Billion and this includes an annual income of $360 million, stock portfolio of $1 Billion, inheritance of $2.9 billion, and cash in bank.
|Born||8 September 1971 (age 52)|
|Place Of Birth||London, England|
|Nationality||Australia, United Kingdom, United States|
|Education||Princeton University (BA)|
|Occupation(s)||Executive chairman, Nova EntertainmentExecutive, chairman and CEO, Fox Corporation, Co-chairman, News Corp|
|Parents||Rupert Murdoch (father), Anna Maria Torv (mother)|
|Net Worth||$4.8 Billion|
Who is Lachlan Keith Murdoch?
Lachlan Keith Murdoch is the eldest son of media mogul Rupert Murdoch and Anna Maria dePeyster. He holds various positions in media and business.
What happened with Lachlan Murdoch’s investment in One.Tel?
Lachlan Murdoch and James Packer invested in One.Tel, a telecommunications startup. However, it faced difficulties, resulting in a settlement of A$40 million.
What is Lachlan Murdoch’s estimated net worth?
Lachlan Murdoch’s estimated net worth is approximately $4.8 billion.
How did Lachlan Murdoch accumulate his net worth?
Lachlan Murdoch’s net worth comes from various sources, including his positions in media companies like Fox Corporation and News Corp, investments in businesses like One.Tel, and his inheritance.
Is Lachlan Murdoch one of the wealthiest individuals in the media industry?
Yes, Lachlan Murdoch is considered one of the wealthy figures in the media industry, with a significant net worth and a history of leadership in major media companies.