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Meet Fox CEO Lachlan Murdoch, the successor to his father’s media empire and one of the people who decided to fire Tucker Carlson

lachlan rupert murdochLachlan Murdoch and Rupert Murdoch at Day 10 of the US Open held at the USTA Tennis Center on September 5, 2018 in New York City.

Adrian Edwards/GC Images

  • Lachlan Murdoch is Rupert Murdoch’s oldest son and current successor to his father’s media empire.
  • He currently serves as executive chairman and CEO of Fox Corporation, and co-chairman of News Corp.
  • Lachlan and Fox News’ CEO jointly decided to fire Tucker Carlson, a source familiar with the matter confirmed to Insider’s Claire Atkinson.
Lachlan, 51, was born in London in 1971. He was raised in New York with his older sister Elisabeth and younger brother James.James, Elisabeth, Rupert, Lachlan MurdochFrom left: James, Elisabeth, Rupert, and Lachlan Murdoch (Photo by Tom Stoddart/Getty Images)

Tom Stoddart/Getty Images

Lachlan was born to Rupert’s second wife, Anna Torv. His older half-sister, Prudence, was born in 1958 to Rupert and his first wife, Patricia Booker.

Source: Bloomberg, Financial Times

According to a 1998 profile of Lachlan, he sometimes woke up before dawn as a child to have breakfast with his father before he left for business meetings.Lachlan and Rupert MurdochRupert Murdoch and his son Lachlan Murdoch (left) attend the 2018 tennis US Open on Arthur Ashe stadium at the USTA Billie Jean King National Tennis Center on September 5, 2018 in Flushing Meadows, Queens, New York City.

Jean Catuffe/GC Images

He would also stay up late listening to Rupert talk business strategy at the dinner table “with famous guests,” according to the profile.

Source: The New York Times Magazine

Growing up, Lachlan was educated at elite private schools like Trinity School in Manhattan, and Phillips Academy Andover in Massachusetts. He graduated from Aspen Country Day School in Colorado.Phillips Academy Andover

Facebook/phillipsacademy

Lachlan was reportedly a member of the “Conservative Society” at Trinity, a club formed to address “a definite imbalance of political ideology in the school community,” according to the school’s yearbook.

Source: The Intercept

He attended Princeton and studied philosophy.People walk through the Princeton University campus in Princeton, N.J., Thursday, April 5, 2018.People walk through the Princeton University campus in Princeton, N.J., Thursday, April 5, 2018.

AP Photo/Seth Wenig

Lachlan’s senior thesis focused on German idealism, and was titled, “A Study of Freedom and Morality in Kant’s Practical Philosophy.”

Source: The Intercept

When Lachlan was 19, he went to London at his father’s request to observe the British Sky Broadcasting merger.Westminster Abbey in London on July 11, 2020.Westminster Abbey in London on July 11, 2020.

JUSTIN TALLIS/AFP via Getty Images

Lachlan told The New York Times Magazine, “I wanted to put my arms around him and hold him up,” about seeing his father stressed during the merger because of the debt hanging over News Corp.

His father successfully navigated the deal, and Lachlan reportedly never talked about the moment with Rupert again.

Source: The New York Times Magazine

After graduating from Princeton, Lachlan oversaw Murdoch media properties in Australia.Lachlan Murdoch

21st Century Fox

Source: The Intercept

In 1997, Lachlan became deputy chief operating officer at News Corp.Lachlan Murdoch

Business Insider

News Corp said that Lachlan was “directly responsible” for two-thirds of the company’s global revenue, specifically from TV stations in the US.

Source: News Corp

Lachlan married Sarah O’Hare, a British-Australian model, in 1998. They have three children: Karan, Aidan, and Aerin.lachlan murdoch sarah murdoch sun valleyLachlan and Sarah Murdoch in Sun Valley, Idaho.

Getty/Kevork Djansezian

Lachlan previously told Insider that marrying Sarah was the best decision of his life.

Source: People, Insider

In 2005, Lachlan resigned from his role as deputy chief operating officer of News Corp amid reported tensions between company executives and his family.Lachlan Murdoc

Jon Kopaloff/WireImage

Source: Insider, NYT, and Reuters

He moved back to Australia where he launched the investment firm Illyria through which he invested in media entities like Nova Entertainment, a radio station group.Sydney, AustraliaMurdoch moved to Sydney after resigning from News Corp.

Vijay Anand/Getty Images

Source: FT, Bloomberg, NPR, and Ronald Reagan Presidential Foundation

In 2014, after seeing some success and some failure after venturing out on his own, Murdoch returned to the family business as the non-executive co-chairman of both 21st Century Fox and News Corp.lachlan murdoch

REUTERS/Rick Wilking

Source: Reuters

In 2016, Lachlan and his brother, James, worked together to oust Fox News co-founder Roger Ailes from the company after allegations of sexual harassment surfaced against Ailes.roger ailesRoger Ailes.

Frederick M. Brown/Getty Images

Source: Insider

James and Lachlan, however, have had their differences. James has reportedly been critical of the “alternative reality” that Fox News has created and his brother’s role in allowing it to persist. The brothers reportedly aren’t on speaking terms.James Murdoch, Lachlan Murdoch Sun ValleyLachlan Murdoch (left) and James Murdoch (right) don’t speak to one another anymore, Vanity Fair reported.

Getty / Drew Angerer

Source: Insider and Vanity Fair

In 2019, Disney acquired 21st Century Fox— the entertainment wing of the Murdoch media empire— for $71.3 billion. Lachlan became the chief executive of Fox Corp, a new entity that spun out of the deal that includes Fox News.Bob IgerBob Iger, CEO of Disney.

Charley Gallay/Stringer/Getty Images

Source: Insider and The Intercept

Lachlan was reportedly not in favor of the Disney deal, and at the time of the deal, worried that it was rushed and undervalued the company’s assets.Rupert Murdoch and Lachlan Murdoch

Drew Angerer, Getty images

The Disney deal also reportedly exacerbated tensions between James and Lachlan — the latter believed the deal was eroding what could end up being his future media empire. “Lachlan’s whole self-image was that he was going to be the next Rupert,” a person close to Lachlan told Vanity Fair. 

Source: Vanity Fair

Rupert Murdoch netted $12 billion from the Disney deal and gave each of his six children $2 billion. Lachlan ultimately spent $150 million to buy the 25,000-square-foot Bel Air estate featured in The Beverly Hillbillies— the highest price in California history.The gates of Bel Air, California.The ritzy Los Angeles community of Bel Air is accessed through two sets of main gates.

gregobagel/Getty Images

Aside from his mansion, Lachlan is known for leading a luxurious lifestyle, owning multiple estates, custom built sports cars, and multimillion dollar yachts.

Source: InsiderVanity Fair and Bloomberg

In 2017, Lachlan paid $29 million for a large equestrian property in Aspen. Based on the property listing, luxury real estate listings site Mansion Global reported that the main home is a 13,500-square-foot property with six bedrooms. There is also a two-bedroom, two-bathroom guest house, a 300-bottle wine cellar, two outdoor kitchens, a gym, and an art gallery.Lachlan Murdoch home Aspen

Realtor.com

Source: Mansion Global

Over the past few years, Lachlan has been leading Fox Corp. He worked remotely from Australia for a stretch of the pandemic.Lachlan Murdoch

REUTERS/Brendan McDermid

In 2020, he acquired the streaming service Tubi, doubling its monthly users in a year. Murdoch has also extended the Fox News brand into weather, lifestyle, and book imprints. 

Murdoch has also said that he’s eager to build a “blank sheet” as CEO whilst keeping his father, Rupert, as a sounding board.

Source: Insider

Lachlan also helmed Fox Corp through tumultuous news cycles and long defended the controversial remarks of Tucker Carlson, anchor of the primetime Fox News show, Tucker Carlson Tonight.Tucker Carlson.Tucker Carlson.

Fox News/YouTube.

Source: Insider

On Monday, in a surprising turn of events, Fox News fired Carlson. The decision was jointly made by Lachlan and Fox News CEO Suzanne Scott on Friday, Insider’s Claire Atkinson confirmed.lachlan murdoch21st Century Fox co-chair Lachlan Murdoch in Sun Valley, Idaho.

Drew Angerer/Getty Images

Carlson was axed from Fox News less than a week after the outlet settled a defamation lawsuit with Dominion Voting systems for $787.5 million over false claims made about election fraud during the 2020 election.

Prior to the settlement though, texts revealed through the discovery process showed Carlson disapproved of the company’s news division and management, was skeptical of the network’s coverage of the election, and had strong critiques of Donald Trump. 

Shortly after Biden was declared the winner of the 2020 election, Carlson texted other employees saying, “Do the executives understand how much trust and credibility we’ve lost with our audience? We’re playing with fire, for real.”

Source: Insider, Reuters, and Wall Street Journal

 

Lachlan’s net worth isn’t clear, but he received $21.7 million in total compensation as Fox Corporation CEO in 2022.Rupert Murdoch and son Lachlan Murdoch.

REUTERS/Brendan McDermid

Lachlan’s base salary for fiscal year 2022 was $3 million, according to Fox Corporation’s public filings. Overall, his total compensation for fiscal year 2022 was $21,748,681. In 2021, his total compensation was higher, at $27,675,399.

Rupert Murdoch and his family have a combined net worth of $17.3 billion, according to Forbes.

A representative for Lachlan Murdoch did not immediately respond to Insider’s request for comment ahead of publication.

Source: Forbes, SEC

Read the original article on Business Insider
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