Lachlan Murdoch Net Worth: How Much Is He Worth & How Rich Is He Now? – Lachlan Murdoch is a British-American businessman and heir to the mass media industry born on September 8, 1971 in London, England. Many people are curious in Lachlan Murdoch’s net worth after taking over as chairman of News Corporation and Fox Corporation after his father, Rupert Murdoch, stepped down. So how much is he worth? and How much money has made in his career so far.
Who is Lachlan Murdoch?
Lachlan Murdoch is the executive chairman of Nova Entertainment. He is also the founder of the Australian investment company Illyria Pty Ltd. Murdoch grew up in New York City, where his father, Australian-born American media billionaire Rupert Murdoch, who owned the New York Post.
Aspen, Colorado, Trinity School in New York City, and Phillips Academy in Andover, Massachusetts for his primary and secondary education
He graduated from Princeton University with a bachelor’s degree in philosophy in 1994, where he studied under Béatrice Longuenesse and Alan Hajek.
Rupert Murdoch took Lachlan, who was 18 at the time, to Australia for a three-month training period at the Daily Mirror in 1989.
Murdoch was appointed general manager of Queensland Newspapers, which produced Brisbane’s Courier-Mail, when he was 22 years old.
A year later, he became the publisher of The Australian, Australia’s first national newspaper. In 1995, he was appointed deputy CEO of News Limited, and in 1996, he was made executive director of News Corporation.
He eventually became deputy chief operating officer in 2000 and senior executive vice president from 1999 to 2000. He has also served as the chairman of STAR since 1995.
Murdoch was encouraged to invest in One.Tel, a telecommunications startup, by his buddy, Australian tycoon James Packer, which later faced controversy and a settlement in April 2014.
Murdoch was also a founding investor in REA Group, which grew to become Australia’s top online real estate advertising company.
Murdoch has a personal interest in Australian rugby league and was involved in the Super League’s early days.
In 2001, he earned a salary of A$2.59 million and received the Press & Outdoor Advertising “media person of the year” award in Cannes in June 2005.
He is one of the founding patrons of an organization called “Advance,” formerly known as the Young Australian Professionals in America.
Murdoch abruptly quit as a News Corp executive in July 2005, disrupting the company’s leadership succession plans. Roger Ailes took over as chairman of News Corp’s television station group.
Murdoch formed Illyria Pty Ltd., an Australian private investment firm, after leaving News Corp.
In 2014, Lachlan Murdoch was appointed as non-executive co-chairman of News Corp. and 21st Century Fox Inc., marking a succession planning move. In 2015, he became the Executive Chairman of 21st Century Fox. After Disney’s acquisition of 21st Century Fox in 2019, Murdoch was named chairman and CEO of the Fox Corporation.
Murdoch faced legal challenges, including lawsuits from Dominion Voting Systems and Smartmatic, related to allegations of spreading false election fraud narratives through Fox News. In April 2023, Fox News Corp settled with Dominion for $787.5 million.
Lachlan Murdoch Net Worth: How Much Is Lachlan Murdoch Worth?
Lachlan Murdoch’s family is extremely rich. He owns and manages a number of prominent companies. Lachlan Murdoch’s net worth is estimated to be around $3.35 billion.
He has invested in a number of businesses, including the Rajasthan Royals cricket franchise and the online DVD rental service Quickflix. In 2008, he and James Packer discussed privatising Consolidated Media Holdings, but the proposal fell through.
Murdoch purchased fifty percent of the shares in Nova Entertainment in November 2009 and later became its chairman. He also ventured into Network Ten, where he briefly served as CEO in 2011, despite financial difficulties.
Lachlan has built and maintained these businesses with savvy leadership, continuing the family’s tradition of power and profitability. The Murdoch name is connected with media companies such as News Corp and 21st Century Fox, and Lachlan has played an essential role in maintaining their popularity.