- Rupert Murdoch’s six children are set to become billionaires many times over, thanks to a $71 billion Disney deal.
- About $12 billion in cash and stock from the deal will be divided between Murdoch’s six children, Bloomberg reports.
- As a result, Murdoch’s personal net worth is expected to fall from $19.3 billion to $7.3 billion.
Rupert Murdochs’s $100 billion deal with Disney is set to turn all six of his children into billionaires in their own right.
The $US12 billion in proceeds from the Disney deal are set to be distributed between Murdoch’s six children – Prudence, Elisabeth, Lachlan, James, Grace and Chloe – turning them all into billionaires, according to the Bloomberg Billionaires Index.
Murdoch’s net worth is set to drop from $US19.3 billion to $US7.3 billion as part of the restructuring of the family’s wealth, Bloomberg reports.
The Disney deal leaves Fox News and Fox Sports in a slimmed down Fox Corporation spin-off that began trading on Tuesday (US time).
So what do all of Rupert’s children do and how will the Disney deal impact their careers?
Lachlan, from Rupert’s second marriage, will become Fox’s new chief executive with Rupert as co-chairman. James has held senior roles in the Murdoch empire but now appears poised to strike out on his own, having established an investment vehicle earlier this year while holding a seat on the Telsa board.
Elisabeth sold a production company specialising in reality TV to her father’s business for $US670 million in 2011 and now focusses on creative and production roles. Prudence, Rupert’s only child from his first marriage, is a media executive and thought to be more removed than Lachlan, James or Elisabeth.
Rupert’s two children from his third marriage, Grace and Chloe, are 18 and 16 respectively.
Murdoch announced the appointment of former Republican Speaker of the House and 2012 Vice Presidential candidate Paul Ryan as a new board member.
Other new directors at Fox Corporation include long-time Murdoch executive Chase Carey, along with Aragon Global Holdings founder Anne Dias and Roland Hernandez, a former chief executive officer at Telemundo Group.
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