• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Egg companies made $1.22 billion in profit off a $6 carton — now they’re buying their way out of a price-fixing case with 53 million donated eggs

2

Meet the Zillennials: The luckiest micro-generation in the workforce, born between 1993 and 1998

3

Economists have found an answer to slowing cognitive decline: Avoid retiring early, study finds

1

Egg companies made $1.22 billion in profit off a $6 carton — now they’re buying their way out of a price-fixing case with 53 million donated eggs

2

Meet the Zillennials: The luckiest micro-generation in the workforce, born between 1993 and 1998

3

Economists have found an answer to slowing cognitive decline: Avoid retiring early, study finds
LeadershipRupert Murdoch

Rupert Murdoch’s children started ‘secretly discussing’ the future of his empire after seeing a ‘Succession’ episode

Sydney Lake
By
Sydney Lake
Sydney Lake
Associate Editor
Down Arrow Button Icon
Sydney Lake
By
Sydney Lake
Sydney Lake
Associate Editor
Down Arrow Button Icon
December 10, 2024, 12:57 PM ET
Rupert Murdoch and his son Lachlan
Rupert Murdoch wants to pass his media empire on to his son Lachlan.Getty Images—David Paul Morris/Bloomberg
Add Fortune on Google for similar content.
  • The four eldest children of Rupert Murdoch, the former chairman and CEO of Fox News and News Corp., have been vying for the power of their father’s media empire and started discussing the future of it after seeing an episode of hit HBO show “Succession.”

The deliberation over what will happen to Rupert Murdoch’s vast media empire has come to a head. 

Recommended Video

On Saturday, a Nevada commissioner ruled against Murdoch’s attempt to change his family’s trust to put his eldest son, Lachlan, in charge of the media empire and solidify Fox News’ right-wing editorial swing, according to a sealed court document obtained by the New York Times. Murdoch, 93, had already named Lachlan as his corporate successor when he stepped down last year as chairman of Fox News and News Corp.

The drama of what would happen to Murdoch’s power and wealth (which is estimated at about $12 billion, according to the Bloomberg Billionaires Index) has unfolded both in real life and on the screens in HBO’s hit television show Succession. While the TV show isn’t an outright depiction of the Murdoch family, there are several close ties, including a main character, Logan Roy, who is an aging media titan. Both Murdoch and Roy “encourage their children to compete to be their successor, though they seemingly have no intention of ever dying, let alone retiring,” according to New York magazine. 

The show had enough impact, though, on some of Murdoch’s children to encourage them to take action on their father’s succession plans. In September, Murdoch and his four eldest children—Lachlan, James, Elisabeth, and Prudence—met with several trust representatives for days of sealed, in-person testimony. The proceedings from this testimony revealed Murdoch’s children had started “secretly discussing the public-relations strategy for their father’s death in April 2023,” according to the NYT. And what reportedly kicked off the discussions was an episode of Succession in which the patriarch of the family dies. 

This episode reportedly prompted Elisabeth’s representative to the trust, Mark Devereux, to write a “Succession” memo “intended to help avoid a real-life repeat.”

What’s at stake with Murdoch’s media empire

Much like is portrayed in Succession, the Murdochs have a complicated family tree. Rupert Murdoch, the patriarch, has a total of six children, each of which will get a portion of the family fortune. However, the two youngest of Murdoch’s children, Chloe and Grace, whom Murdoch had with his third wife, Wendi Deng, don’t stand to get the same voting power as Lachlan, James, Elisabeth, and Prudence. Murdoch had Prudence with his first wife, Patricia Booker, and Elisabeth, Lachlan, and James share the same mother: Anna Torv, Murdoch’s second wife. The trust was established in 1999 as a compromise amid Murdoch’s divorce with Torv.

While even just a portion of Murdoch’s fortune may seem like enough to cause some family drama, what’s really at stake is voting power for Fox News. 

Lachlan, Murdoch’s eldest son, holds similar political opinions to his father, which makes him Murdoch’s top choice for controlling the media empire after his death—especially since James has regularly had beefs with his father over differing political and business-related views. Plus, James was the only one of Murdoch’s elder children who refused to give him $100 million each as a sign of respect after closing on the sale of Fox entertainment assets to Disney in spring 2019.

But now that the Nevada commissioner, Edmund J. Gorman Jr., has concluded that Murdoch and Lachlan acted in “bad faith” in their effort to change the irrevocable trust, their efforts to solidify Fox News’ and News Corp.’s futures will continue. Gorman called the plan to alter the trust a “carefully crafted charade” to “permanently cement Lachlan Murdoch’s executive roles” despite the impacts it could make on the company or the trust’s beneficiaries, according to the NYT. 

However, Murdoch has argued that maintaining the right-leaning political bent of Fox News and his other media outlets is in the best financial interest of the beneficiaries—and Murdoch and Lachlan plan to appeal, according to the NYT. 

Fox News did not immediately respond to Fortune’s request for comment.

About the Author
Sydney Lake
By Sydney LakeAssociate Editor
LinkedIn iconTwitter icon

Sydney Lake is an associate editor at Fortune, where she writes and edits news for the publication's global news desk.

See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Leadership

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Leadership

‘It’s just his AI and my AI going back and forth’: The workplace phenomenon that’s undermining human relationships
Future of WorkWorkforce
‘It’s just his AI and my AI going back and forth’: The workplace phenomenon that’s undermining human relationships
By Jacqueline MunisJuly 3, 2026
13 hours ago
Chad Hurley and Steven Chen wearing suits
SuccessWealth
YouTube’s founders split over $650 million when they sold to Google in 2006—had they held out, they could have taken a slice of $550 billion
By Preston ForeJuly 3, 2026
13 hours ago
2
Commentary250 Years of Innovation
America’s secret weapon isn’t just innovation — It’s the freedom to fail
By Keith KrachJuly 3, 2026
17 hours ago
Woman sitting in front of her house
SuccessWorld Cup
Airbnb offered $750 to Americans to open up their homes during the World Cup—mostly women took it up and now they’re earning thousands
By Emma BurleighJuly 3, 2026
19 hours ago
Microsoft’s next big bet isn’t on a model but on becoming the Swiss Army knife of enterprise AI
AIMicrosoft
Microsoft’s next big bet isn’t on a model but on becoming the Swiss Army knife of enterprise AI
By Sheryl Estrada and Sebastian HerreraJuly 3, 2026
20 hours ago
z
AIdisruption
Meet the Zillennials: The luckiest micro-generation in the workforce, born between 1993 and 1998
By Nick LichtenbergJuly 3, 2026
21 hours ago

Most Popular

Egg companies made $1.22 billion in profit off a $6 carton — now they’re buying their way out of a price-fixing case with 53 million donated eggs
Law
Egg companies made $1.22 billion in profit off a $6 carton — now they’re buying their way out of a price-fixing case with 53 million donated eggs
By Wyatte Grantham-Philips and The Associated PressJuly 2, 2026
1 day ago
Meet the Zillennials: The luckiest micro-generation in the workforce, born between 1993 and 1998
AI
Meet the Zillennials: The luckiest micro-generation in the workforce, born between 1993 and 1998
By Nick LichtenbergJuly 3, 2026
21 hours ago
Economists have found an answer to slowing cognitive decline: Avoid retiring early, study finds
Economy
Economists have found an answer to slowing cognitive decline: Avoid retiring early, study finds
By Sasha RogelbergJuly 2, 2026
1 day ago
On Wall Street, analysts increasingly don’t believe the U.S. government’s 'misleading' job numbers
Economy
On Wall Street, analysts increasingly don’t believe the U.S. government’s 'misleading' job numbers
By Jim EdwardsJuly 3, 2026
16 hours ago
$25 billion CEO says one-hour interviews are a waste of time—he puts candidates through six hours of tests and wants them to order wine at lunch
Success
$25 billion CEO says one-hour interviews are a waste of time—he puts candidates through six hours of tests and wants them to order wine at lunch
By Orianna Rosa RoyleJuly 3, 2026
21 hours ago
Current price of oil as of July 2, 2026
Personal Finance
Current price of oil as of July 2, 2026
By Joseph HostetlerJuly 2, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.