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Rupert Murdoch
#113

Rupert Murdoch

Source of wealth: Newspapers, TV network

Net Worth

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Earnings per second

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Biography

Rupert Murdoch built a media empire that includes cable channel Fox News, The Times of London and The Wall Street Journal. He stepped down as chairman in September 2023.

Murdoch sold most of Fox's movie studio, FX, and National Geographic Networks and its stake in Star India to Disney for $71.3 billion in March 2019.

Murdoch's son, Lachlan, runs the new Fox, which consists of its broadcast, cable news, business and sports networks.

Though several of his companies are known for their conservative tilt, he initially urged Mike Bloomberg to run for president against Donald Trump.

A native of Australia, Murdoch inherited a newspaper at age 22 after his father, a former war correspondent, passed away.

Financial Assets

Exchange
NASDAQ
Ticker
FOX-US
Company
Fox Corp. Class B
Exchange
NASDAQ
Ticker
NWS-US
Company
News Corp. (Cl B)
Exchange
NYSE
Ticker
DIS-US
Company
Walt Disney

The Great Lie of Mega-Fortunes: The Case of Rupert Murdoch

Billionaires are often presented under the romantic myth of the 'self-made person': a narrative designed to justify opulence as the natural reward for hard work, effort, or ingenuity. However, when confronting such extreme volumes of wealth with macroeconomic reality, the meritocracy narrative completely breaks down. No individual can legitimately generate through personal effort a fortune equivalent to millions of times the average working-class salary. Capital at the top does not grow because of exceptional talent; it expands through an implacable dynamic where accumulated money works exponentially faster than people, devouring the wealth generated by productive labor.

The immense fortune of Rupert Murdoch, linked to Media & Entertainment and 'Newspapers, TV network', has not been built in a free-market vacuum, but through rent-seeking, the use of exclusive elite influence, the consolidation of monopoly positions, or inherited wealth. Far from taking real private risks, billionaire empires structurally depend on state support through direct subsidies, infrastructure use, exploitation of R&D, public contracts, and offshore tax engineering. While this wealth is equivalent to the physical weight of 160 tons of pure gold, the rest of the planet suffers from an artificial scarcity of basic resources. The fact that this wealth is enough to fully fund the public health system of DR Congo, a country with more than 105800000 million inhabitants for 10.5 years, proves that unlimited accumulation is not an entrepreneurial achievement, but the hijacking of democratic sovereignty.

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