Net Worth Ranker
What Is Lachlan Murdoch’s Net Worth?
Lachlan Murdoch, an Australian British-American businessman and media heir, boasts a substantial net worth estimated at $2.7 billion. This wealth is primarily derived from his roles as co-chairman of News Corp, a media conglomerate founded by his father Rupert Murdoch, and as the executive chairman and CEO of Fox Corporation. Additionally, Murdoch’s investment company, Illyria Pty, contributes to his financial standing through its ownership of NOVA Entertainment.
Lachlan Murdoch’s Early Life and Education
Born on September 8, 1971, in London, England, Lachlan Murdoch is the eldest son of media mogul Rupert Murdoch and his former wife, Anna Murdoch. His upbringing took place in New York City, where his father’s media empire included the New York Post. Lachlan’s early education included attendance at the Aspen Country Day School in Colorado, Trinity School in New York City, and Phillips Academy in Andover, Massachusetts. He pursued higher education at Princeton University, earning a bachelor’s degree in philosophy in 1994.
Lachlan Murdoch’s Career at News Corp
Lachlan Murdoch’s career within his father’s News Corp began in 1989 with a three-month training stint at the Daily Mirror in Australia. In the early 1990s, he advanced to become general manager of Queensland Newspapers and subsequently publisher of the Australian. By 1995, he was appointed deputy CEO of News Limited, and in 1996, he became an executive director of News Corp. From 1999 to 2000, Murdoch held the position of senior executive vice president of News Corp, before becoming deputy COO in 2000.
During his tenure at News Corp, Lachlan Murdoch spearheaded the company’s significant investment in the telecommunications startup One.Tel, which ultimately proved unsuccessful. However, he also led a major investment in the REA Group, which eventually emerged as Australia’s leading online real estate advertising platform. Murdoch’s responsibilities at News Corp also included serving on the board of Foxtel and acting as chairman of Fox television stations.
In the summer of 2005, Lachlan Murdoch abruptly resigned from News Corp without providing a clear explanation. This decision was unexpected, particularly given his father’s expectations of him as a successor. Following his departure, Roger Ailes, the chairman of the Fox News Channel, assumed responsibility for News Corp’s group of television stations.
Lachlan Murdoch returned to News Corp in early 2014, assuming the role of non-executive co-chairman of both News Corp and 21st Century Fox. The following year, he became executive chairman of 21st Century Fox. Following the acquisition of 21st Century Fox by Disney in 2019, Murdoch became the chairman and CEO of Fox Corporation.
Lachlan Murdoch’s Private Investments
After departing from News Corp, Lachlan Murdoch established the private investment company Illyria Pty, adhering to a two-year non-compete agreement. Through Illyria Pty, he cultivated a diverse investment portfolio encompassing various ventures, including the Indian Premier League cricket team Rajasthan Royals, the digital media company Destra, and the online DVD rental company Quickflix. In late 2009, Murdoch acquired a 50% stake in NOVA Entertainment, assuming the role of chairman. He subsequently acquired the remaining portion of the company a few years later.
Lachlan Murdoch’s Lawsuits
Lachlan Murdoch, along with his father, was embroiled in billion-dollar lawsuits filed by voting machine manufacturers Dominion and Smartmatic. These companies initiated legal action against Fox News Network in 2021, alleging the deliberate and malicious dissemination of false narratives regarding election fraud in the 2020 presidential election. Dominion claimed that, under Lachlan Murdoch’s direction, Fox News connected the company to unsubstantiated fraud claims and intentionally provided a platform for the propagation of defamatory and false statements pertaining to its machines.
In the spring of 2023, Fox News reached a settlement with Dominion, agreeing to pay $787.5 million. The Smartmatic lawsuit, however, remains pending as of this writing.
Lachlan Murdoch’s Personal Life and Real Estate Holdings
In 1999, Lachlan Murdoch married British-Australian model and actress Sarah O’Hare. Together, they have two sons named Kalan and Aidan, as well as a daughter named Aerin.
The Murdochs previously owned a residence in Elizabeth Bay, Sydney, known as “Berthong,” which was sold to actor Russell Crowe in 2003. In 2009, Murdoch acquired a 44,100-square-foot mansion in Bellevue Hill for $23 million, followed by the purchase of an adjacent 11,290-square-foot property two years later.
In 2017, Lachlan and Sarah Murdoch acquired an equestrian property in Aspen, Colorado, for $29 million. This property includes a 13,500-square-foot home with six bedrooms. In 2019, Lachlan made headlines with the purchase of a 10-acre estate in Bel-Air for $150 million. This residence, known as “Chartwell,” was featured in the opening title sequence of the 1960s TV series “The Beverly Hillbillies.” At the time of purchase, it was the most expensive home ever sold in California.
Chartwell’s features include a 12,000-bottle wine cellar, a formal salon, paneled dining room, and a guest house. The grounds include manicured gardens, a 75-foot swimming pool, a pool house, a tennis court, and a covered parking area that can accommodate 40 cars. Prior to Murdoch’s purchase, the estate had been on the market for several years with an initial asking price of $350 million.
However, Lachlan’s record for the most expensive home purchase in California was broken a few months later when Jeff Bezos acquired a nearby estate for $300 million. Bezos’ purchase included a 1.3-acre vacant lot that was previously owned by Ronald and Nancy Reagan until their deaths.
In August 2020, Lachlan expanded his Bel-Air property holdings by purchasing one of his next-door properties for $14 million. The seller was former supermodel Cheryl Tiegs. This property spans 1.4 acres and contains a 4,770-square-foot home with four bedrooms and four bathrooms. It also has a swimming pool, expansive lawns, and lush landscaping.
These real estate acquisitions reflect Lachlan Murdoch’s significant wealth and investment strategies. The Bel-Air estate, in particular, is a landmark property with a rich history and extensive amenities.
