Rupert Murdoch's Net Worth (2023)

Net Worth:	$9 Billion
Age:	91
Born:	March 11, 1931
Gender:	Male
Height:	1.78 m (5 ft 10 in)
Country of Origin:	Australia
Source of Wealth:	Entrepreneur
Last Updated:	March 8, 2023

Introduction

As of September 2023, Keith Rupert Murdoch’s net worth is estimated to be roughly $9 Billion.

Keith Rupert Murdoch is an Australian-born American media mogul. After his father’s death in 1952, Murdoch declined to join his late father’s registered public company and created his own private company, News Limited.

He then went on to create the biggest news media empire in the entire world, with his News Corp. being the owner of prominent nationwide papers in the U.S., Australia, and the U.K., including publications such as the New York Post or the Wall Street Journal. He is also the owner of various local papers and television stations and is commonly hailed as the inventor of the modern tabloid.

Early Life

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

Keith Murdoch was a war correspondent and later a regional newspaper magnate owning two newspapers in Adelaide, South Australia, and a radio station in a faraway mining town, and chairman of the powerful Herald and Weekly Times group.

Career

Murdoch took over ‘New Limited’ after his father died in 1952. One of its newspapers, ‘Adelaide News’ became one of the most-read after the young man took ownership, leading the small Adelaide newspaper to dominate print media in this region of Australia. These were the humble beginnings of an empire that would come to dominate the entire English-speaking media landscape in the coming decades.

He had also managed to increase his stake hold over media firms all across Australia. In 1964, Rupert got to know of a bid going on for acquiring the Wellington-based newspaper, ‘The Dominion’, on a trip to New Zealand.

In 1968, the Australian media mogul ventured into the British market, and took over ‘News of the World’, following it up the next year with ‘The Sun’, a national daily newspaper that was struggling at the time. They were initially in the long broadsheet size, but were later shortened to a tabloid format, and were printed in the same press to cut down on costs. ‘The Sun’s’ focus on sensational coverage of controversial topics was what brought the paper out of its financial troubles, and kickstarted the popularity of tabloids in Great Britain, which continues to make up a lion’s share of the print media landscape in the country to this day.

In 1986, this businessman came under scrutiny, when he introduced electronic publishing in the Wapping area of London. These processes did not require as much manpower as before, and this resulted in downsizing.

Murdoch’s first acquisition in the U.S. came in 1973 when he bought ‘San Antonio Express-News’, and then the ‘New York Post’ three years later. He gained control of ’20th Century Fox’ (later known as ’21st Century Fox’) in 1986, through which he carried out the majority of his business activities in the United States. In 1993, his ‘Fox Network’ took over the charge of telecasting the ‘National Football League’, from competitor CBS.

In 2014, ’21st Century Fox’ attempted to buy ‘Time Warner’, but the offer was rejected. Presently, the management of most companies under Murdoch is looked after by his younger son, James Murdoch.

Until 2018, he was the owner of Sky Group, which encompasses some of the most notable publishing outlets in Australia and the United Kingdom, including Sky News, Sky News Australia, and Sky Sports. The remainder of Sky’s shares owned by Murdoch’s 21st Century Fox were sold to Comcast for $15 billion.

Currently, Murdoch is best known for being the chairman of Fox Corporation, an American media giant which owns outlets such as Fox News, Fox Business, and Fox Sports. He currently ranks 272nd on the Bloomberg Billionaires Index.

As of September 2023, Rupert Murdoch’s net worth is $9 Billion.

Personal Life

Murdoch gave up his Australian citizenship to become a US citizen in the 1980s, 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 prominent personalities such as his son James or daughter Prudence Murdoch.

Highlights

Here are some of the best highlights of Rupert Murdoch’s career:

Executive of The Herald and Weekly Times
Murdoch acquired The Times (1981)
Murdoch bought the Dow Jones & Company, the publisher of the Wall Street Journal (2007)
Murdoch sold the majority of 21st Century Fox entertainment assets to Disney for $71.3 billion (2019)
CEO of Fox Corporation (2019-present)

Favorite Quotes from Rupert Murdoch

“Climate change poses clear, catastrophic threats. We may not agree on the extent, but we certainly can’t afford the risk of inaction.” – Rupert Murdoch

“You can’t build a strong corporation with a lot of committees and a board that has to be consulted every turn. You have to be able to make decisions on your own.” – Rupert Murdoch

“As an immigrant, I chose to live in America because it is one of the freest and most vibrant nations in the world. And as an immigrant, I feel an obligation to speak up for immigration policies that will keep America the most economically robust, creative and freedom-loving nation in the world.” – Rupert Murdoch

“The Internet has been the most fundamental change during my lifetime and for hundreds of years. Someone the other day said, “It’s the biggest thing since Gutenberg,” and then someone else said, “No, it’s the biggest thing since the invention of writing.” – Rupert Murdoch

“The Internet has been the most fundamental change during my lifetime and for hundreds of years.” – Rupert Murdoch

3 Business Lessons from Rupert Murdoch

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

1. Get the Timing Right

Murdoch says timing is crucial in succession planning. “We say this all the time to our clients, you can never start preparing too early,” he says.

“The longer you have to communicate the succession plan and embed it in the company in terms of the structure, the better it will be for the employees, the board, the stakeholders, and the company.”

Murdoch’s mastery of timing was impeccable throughout the majority of his career. Whether we’re talking about dragging Australian newspapers to the top of sales charts or buying out struggling papers such as ‘The Sun’ for an attractive price to turn them into powerful forces in the media.

Finally, in the U.S., he built up the Fox empire from the ground up, starting a number of cable television networks and ending up with a giant that controlled much of the news and entertainment industry in the country. He sold portions of his investments at the height of their performance, with the best example being the sale of ’21st Century Fox’ to Disney in 2019.

2. Be Prepared For Challenges

Succession planning is complex and even more difficult in a family business. Murdoch says family businesses face unique challenges because the family dynamic also comes into play. “Usually there will be family issues to consider which cloud the business issues,” he says.

“If you’re handing over to someone who’s not in the family then it’s effectively a commercial transaction, but when it’s a family member you have to consider things like sibling rivalry and emotional factors which play a part.”

Throughout his career, Murdoch never shied away from a challenge, seeing opportunities in struggling media outlets that he knew would require a lot of time and effort to turn any profit. Another example of this is News Corp. Australia, which he built up from a tiny network of daily newspapers.

3. Communicate Clearly

Murdoch says it’s important for business owners to execute a succession plan to communicate clearly with all staff and stakeholders. “Allow enough time for the transition plan to be effective and ensure to communicate clearly about what’s happening and why,” he says.

It shouldn’t surprise anyone that Rupert Murdoch is a master of communication. After all, that’s his main source of revenue! Through carrying multiple media companies and the distribution of news, international and domestic, the former CEO of ’21st Century Fox’ arguably became the most influential person in the world with regard to the dissemination of information and entertainment. You don’t get there without clearly communicating your expectations and desires!

Frequently Asked Questions

How much is Rupert Murdoch worth?

Rupert Murdoch’s net worth is estimated to be $9 Billion.

How old is Rupert Murdoch?

Rupert Murdoch was born on March 11, 1931, and is currently 92 years old.

How tall is Rupert Murdoch?

Rupert Murdoch’s height is 1.78 m, which is equal to 5 ft 10 in.

Summary

Rupert Murdoch is a famous Australian businessman who is known for his establishment of News Corporation’. After his father’s death, he started by acquiring small, struggling publications in Australia. The first foreign investment happened when he bought ‘The Dominion’, a New Zealand-based newspaper.