Rupert Murdoch Net Worth: Revealed why Steps Down as Chairman

Rupert Murdoch Net Worth: Revealed why Steps Down as Chairman

Rupert Murdoch, the media mogul, is stepping down as chairman of Fox Corporation and News Corporation at age 92.

End of an Era in Media

His decision marks a significant moment as the media industry faces major transformations and the rise of streaming services.

Political Impact

Murdoch’s exit will have political implications, especially as the 2024 presidential race unfolds.

Lachlan Murdoch’s Stance

Lachlan Murdoch, Rupert’s son and successor, has voiced differences with former President Trump’s behavior.

Rupert Murdoch’s Media Journey

Rupert Murdoch’s media career began in the 1950s with an Australian newspaper chain.

Expanding Influence in the UK

He expanded his influence in the UK by acquiring News of the World, The Sun, The Times, and The Sunday Times.

Entry into the US Media Sphere

In 1973, he entered the US media sphere with the purchase of the San Antonio Express and San Antonio News.

The New York Post

Murdoch’s ownership of the New York Post, a significant NYC tabloid, has been enduring.

Hollywood and Television

He became a Hollywood executive with the purchase of Twentieth Century Fox and ventured into television with Fox Broadcasting.

UK Satellite Pay-TV

Murdoch launched Sky in the UK in 1989, later merging it with a major rival.

Hacking Scandal and Consequences

A hacking scandal at News of the World led to its closure in 2011 and affected Murdoch’s control of Sky.

Rupert Murdoch Net Worth

Calculations of Rupert Murdoch Net Worth net worth vary, with Forbes estimating it at $23.8 billion and Bloomberg at $8.35 billion as of September 2023.

FAQs about Rupert Murdoch’s Retirement

Q1: Why is Rupert Murdoch retiring?

A1: Rupert Murdoch is retiring to take on different roles while acknowledging his talented teams.

Q2: What impact will this have on Fox News?

A2: Murdoch’s departure will affect Fox News during the 2024 presidential race and ongoing litigation related to the 2020 election.

Q3: Who is Lachlan Murdoch, and what are his views on Trump?

A3: Lachlan Murdoch, Rupert’s son and successor, has privately criticized Trump’s behavior and expressed concerns about his potential return to politics.

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