Lachlan Murdoch Set To Take Over Fox News Corp (& It's Giving Kendall Roy)
Media mogul Rupert Murdoch is drawing the curtain on his decades-long career, but not to worry, his billion-dollar empire is staying within the family. Born to an Australian newspaper publisher, Murdoch's media career fully took off after his father's sudden death in 1952. In the years that followed, Murdoch expanded the business, acquiring smaller newspapers and setting up operations in the UK and US. With a net worth of $17.5 billion, as reported by Forbes — the majority of which can be traced back to the two divisions of his business, 21st Century Fox Inc. and News Corp — Murdoch is ranked as one of the richest people in the world.
Beyond Murdoch's enormous wealth and great business mind, however, lies a chaotic personal life. From three of his past marriages, Murdoch welcomed six children: Prudence, Elisabeth, Lachlan, James, Chloe, and Grace. While the media giant had no issue ruling his empire, rumors often pointed to a potential rivalry amongst his oldest kids over who would take over the family business. "He pitted his kids against each other their entire lives. It's sad," a source close to the Murdoch family told Vanity Fair in April 2023.
But while spectators have always drawn similarities between their supposed family drama and HBO's hit series "Succession," the Murdochs might just be giving the Roy dynasty a run for its money!
Rupert Murdoch has confidence in his 'passionate, principled' son
In a recent memo to staff, Rupert Murdoch announced he will be stepping down from his role as chairman of Fox News Corporation and News Corp. "For my entire professional life, I have been engaged daily with news and ideas, and that will not change," the memo read, per CNN. "But the time is right for me to take on different roles, knowing that we have truly talented teams." In the memo, Rupert also announced that his oldest son, Lachlan Murdoch, whom he described as "a passionate, principled leader," would be taking over as chairman of the two media companies. "My father firmly believed in freedom, and Lachlan is absolutely committed to the cause," Rupert said of Lachlan in the memo.
The new appointment comes only a few months after a Vanity Fair article hinted at Rupert's preference for having Lachlan as his successor. "Lachlan was the golden child," a source close to the family told the outlet. Regardless, the 52-year-old reportedly had to prove himself worthy in different capacities through the years. As reported by CNN, in 2015, Lachlan, alongside his brother James, was named co-chairman of 21st Century Fox, the entertainment division of Rupert's business. However, in 2019, following James' exit from the company and Disney's acquisition of 21st Century Fox, Lachlan was named CEO of Fox Corporation — a role he held until his recent new appointment as chairman.