Who is Lachlan Murdoch, successor of Rupert Murdoch's media empire
Rupert Murdoch, aged 92, is stepping down as the chairman of Fox and News Corp after a seven-decade career as one of the world's most influential and controversial media tycoons. He will be assuming the position of chairman emeritus for both corporations. His eldest son, Lachlan Murdoch, is supposed to succeed him. In a message to employees, Rupert praised Lachlan as a "passionate, principled leader." Here's what you should know about the successor.
Early life and education
Lachlan was born in Wimbledon, London, on September 8, 1971. He received his primary and secondary education at Aspen Country Day School in Aspen, Colorado; Trinity School in New York City; and Phillips Academy in Andover, Massachusetts. In 1994, he graduated from Princeton University with a bachelor's degree in philosophy. His latest appointment as his father's successor comes after a tumultuous career within the family's media business, including a brief departure from the company.
Lachlan's journey over the years
Lachlan spent much of his career managing his father's businesses in Australia but left the company in 2005 after a feud with the then-boss of Fox News, Roger Ailes. He later established an Australian investment firm, investing in various media and marketing companies as well as an Indian Premier League cricket team. However, not all investments were successful, with his company suffering a significant loss on an Australian TV network.
Lachlan's return and rise in Murdoch empire
In 2014, Lachlan returned to his father's empire to assist during a crisis point - following the phone hacking scandal and Rupert's divorce from Wendi Deng. He was named co-chairman of 21st Century Fox with his brother James in 2015. The film studio was sold to Disney in 2019, and James resigned from the News Corp board the following year.
The lavish lifestyle of Lachlan and Sarah
Lachlan and his wife Sarah are part of the 1%, owning multiple properties, including the $150 million Chartwell Estate in Los Angeles. The Australian Financial Review recently ranked him 33rd on their list of Australia's richest people, with a total fortune of A$3.35 billion. Lachlan and his wife have been known to enjoy luxury yachts and extravagant boat sheds near their family mansion.
