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☆ Dior and Gucci owners suffer $14 billion wealth crash as luxury stocks slide
▼ + stars: | 2024-10-08 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

The ultra-rich owners of the world's leading luxury brands took a hit to their fortunes on Tuesday. LVMH shares fell as much as 7% in Paris on Tuesday, slashing the value of his stake by about $13 billion, before paring their decline to 3%. Arnault ranked as the world's fourth-richest person with a $197 billion net worth at Monday's market close, per the Bloomberg Billionaires Index. Pinault was 83rd in the wealth rankings with a $24 billion fortune at Monday's close, down more than $11 billion this year. For example, the Dumas family owes most of its estimated $150 billion fortune to Hermès stock, which slid 3% on Tuesday.

Persons: Bernard Arnault, —, LVMH Moët Hennessy Louis Vuitton, Dior, Arnault, François Pinault, Gucci, Kering, Pinault, Dumas, Johann Rupert's, Cartier, Piaget, Remo Ruffini isn't, Forbes, Chanel isn't, Alain, Gérard Wertheimer, they're Organizations: Service, Bloomberg Locations: LVMH, Paris, China, Monday's

☆ Behind the scenes at the Murdoch family's secret court fight
▼ + stars: | 2024-09-23 | by ( Peter Kafka | ) www.businessinsider.com time to read: +11 min

The biggest story in media right now has nothing to do with sexting. But recently, Rupert Murdoch has been trying to change those plans, and pass along full control to Lachlan Murdoch, who now has the CEO title at both News Corp and Fox. AdvertisementElisabeth Murdoch and her father, Rupert Murdoch, pictured in 2010. I think Lachlan would hope to figure out ways to keep on keeping on. Related storiesThroughout his career, Rupert Murdoch was always willing to sell assets he'd spent time and money acquiring.

Persons: Rupert Murodoch's, Murdoch, haven't, Rupert Murdoch's, Lachlan, James, Elisabeth, Prudence —, Rupert Murdoch, Lachlan Murdoch, David Folkenflik, Elisabeth Murdoch, Samir Hussein, he'd, didn't, I've, Rupert, Prudence Murdoch, Prudence MacLeod, Evan Agostini, It's, He's, it's, NPR's David Folkenflik, Gabriel Sherman, you've, Suzanne Scott, who've Organizations: Service, Fox News, Business, — News Corp, New York Post, Street Journal, Fox Corp, Fox, News Corp, HBO, Trump . Fox News, Disney, Sky News, Capitol, NPR, Nevada Supreme, Court, Corp, Old Media, Fair, NBC, Street Locations: Reno , Nevada, Nevada, Rupert's, Australia, Reno

For Lachlan Murdoch, this moment has been a long time coming. On Thursday, his father Rupert Murdoch announced that in November he'll step down as the head of his two media companies: News Corp. and Fox Corp. Lachlan will become the chair of News Corp. while remaining chief executive and chair at Fox Corp., the parent of Fox News Channel. In Murdoch World, as in the fictional world of the Roy family, seemingly sure things can go sideways in an instant, particularly when unexpected opportunities arise. Lachlan Murdoch has lived that first hand. Lachlan Murdoch has drawn criticism from media watchdogs for what many called Fox News' increasingly conspiratorial and misinformation-promoting broadcasts.

Persons: Lachlan Murdoch, Rupert Murdoch, Lachlan, James, Elisabeth, Rupert, Rupert Murdoch's, ”, Roy, Paddy Manning, Roger Ailes, ” Manning, “, I'm, Murdoch, Manning, Lachlan Murdoch's, James ., Ailes, Fox, Smartmatic, Kathryn Murdoch Organizations: News Corp, Fox Corp, Fox News Channel, Murdoch, Princeton, Fox News, News, British, Voting Systems, AP Locations: London, New York City, Australia, Australian, U.S

☆ Rupert Murdoch is urging Virginia Gov. Glenn Youngkin to jump into the Republican presidential race, report says
▼ + stars: | 2023-08-19 | by ( John L. Dorman | ) www.businessinsider.com time to read: +4 min

Rupert Murdoch wants Glenn Youngkin to join the GOP presidential field, per The Washington Post. Murdoch doesn't think Trump is a healthy figure for the Republican Party, according to the report. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyBillionaire media baron Rupert Murdoch has repeatedly urged Gov. Glenn Youngkin of Virginia to jump into the Republican presidential primary, according to The Washington Post. Murdoch has not been a fan of Trump's continued rejection of the 2020 presidential results, with the media magnate feeling as though it will only hurt the party at the ballot box.

Persons: Rupert Murdoch, Glenn Youngkin, Murdoch doesn't, Trump, Youngkin, Murdoch, Donald Trump, Ron DeSantis, Murdoch's, Dave Rexrode, Youngkin's, Trump's, Michael Bloomberg, Rupert Organizations: GOP, Washington Post, Republican Party, Service, Privacy, Billionaire, Republican, The Washington Post, New York Times, Fox News Corp, Republicans, The, Trump, Youngkin's, Virginia PAC, Dominion Voting Systems, New, Bloomberg, Democratic Locations: Wall, Silicon, Virginia, Florida, Trump, New York

☆ Elon Musk says he doesn't plan to give his kids control of his companies
▼ + stars: | 2023-05-23 | by ( Grace Kay | ) www.businessinsider.com time to read: +5 min

Elon Musk said he's found potential successors for his companies if "something happens to me unexpectedly." The billionaire said he doesn't plan to hand over his companies or voting shares to his kids. Musk dispelled rumors earlier this month that he would bring in a new Tesla CEO. Elon Musk says he doesn't plan to hand over his companies to his kids any time soon. The Tesla CEO did not respond to a request for comment from Insider ahead of publication.

Persons: Elon Musk, he's, Musk, X, X's, Grimes, Steve Jobs, Bernard Arnault, Rupert Murdoch —, I've, Musk's, Zach Kirkhorn, Tesla, James Murdoch —, —, Tom Zhu, he'd, Dan Ives Organizations: Morning, Reuters, Twitter, Street Journal, Musk Locations: China, North America, Europe

☆ Fox News has lost half its 8 p.m. audience in just days since Tucker Carlson's firing
▼ + stars: | 2023-04-28 | by ( Aaron Mcdade | ) www.businessinsider.com time to read: +3 min

Fox News has lost about half of its 8 p.m. audience in the days following Tucker Carlson's firing. 1.33 million viewers tuned in on Wednesday, compared to 2.65 million for Carlson's unexpected final show last Friday. The ratings data from Nielsen has been tracked by CNN's Oliver Darcy every day since Carlson was fired. Carlson's last show Friday drew 2.65 million viewers, itself down from the other four days of last week which each topped 3 million, and Tuesday and Wednesday this week fell to 1.7 million and 1.33 million viewers, CNN reported. The viewers appear to be opting for other conservative networks, as Darcy reported that Newsmax's 8 p.m. hour totaled 510,000 viewers, tripling the audience they drew at the same time last Wednesday.

☆ The 7 theories for why Tucker Carlson got fired from Fox News
▼ + stars: | 2023-04-27 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +8 min

Tucker Carlson was axed by Fox News Monday, days after it settled Dominion's defamation lawsuit. Here are seven theories for why Fox News decided to part ways with Carlson. Since then, media industry insiders have been buzzing with different theories for why Carlson was pushed out. The C-wordWithin the Dominion lawsuit, there emerged a pattern of vulgar language spewed by Carlson throughout his time at Fox News. Rupert Murdoch (right) and Lachlan Murdoch at the US Open in 2018.

☆ Meet Fox CEO Lachlan Murdoch, the successor to his father's media empire and one of the people who decided to fire Tucker Carlson
▼ + stars: | 2023-04-26 | by ( Britney Nguyen | Lakshmi Varanasi | ) www.businessinsider.com time to read: 1 min

Lachlan, 51, was born in London in 1971. He was raised in New York with his older sister Elisabeth and younger brother James. From left: James, Elisabeth, Rupert, and Lachlan Murdoch (Photo by Tom Stoddart/Getty Images) Tom Stoddart/Getty ImagesLachlan 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

☆ Rupert Murdoch Made the Decision to Ouster Tucker Carlson: LA Times Report
▼ + stars: | 2023-04-25 | by ( Nicholas Carlson | ) www.businessinsider.com time to read: +4 min

Sources told an LA Times reporter that Rupert Murdoch himself made the decision to fire Tucker Carlson. Meanwhile, other outlets reported that Fox Corporation CEO Lachlan Murdoch and Fox News CEO Suzanne Scott made the call. Murdoch was tired of Tucker Carlson's conspiracy theories about the January 6, 2021 riots at the Capitol. Fox News has not addressed the specific reasons the network and Carlson parted ways, saying in a Monday morning statement: "FOX News Media and Tucker Carlson have agreed to part ways. Editor's note, April 24: This story has been updated to include recent reporting from Axios, The New York Times, and The Washington Post.

☆ Tucker Carlson has now parted ways with 3 major cable news networks
▼ + stars: | 2023-04-25 | by ( Chris Kaye | ) www.businessinsider.com time to read: +5 min

Tucker Carlson has parted ways with Fox News, the media network announced Monday. Tucker Carlson is out at Fox News and no definitive reason has been given by him or his former employer. "FOX News Media and Tucker Carlson have agreed to part ways," the network said in a Monday statement. The New York Times reported on Monday that Grossberg's legal team would depose Carlson "in the very near term." "I'm not defending it as the smartest choice, but I think it's the most interesting," Carlson told the Washington Post at the time.

☆ Fox mogul Rupert Murdoch survived the phone-hacking scandal. Dominion's $1.6 billion lawsuit will test whether he can do it again.
▼ + stars: | 2023-04-16 | by ( Jack Newsham | ) www.businessinsider.com time to read: +15 min

Now, two voting-technology companies, Dominion Voting Systems and Smartmatic, want to make another Murdoch media property pay even more for Fox News's role in spreading election denial. But the phone-hacking scandal showed how Murdoch has weathered challenges to his power before. Another key difference from the phone-hacking scandal is the presence of written records that show Fox execs knew exactly what was going on. In the last quarter of 2022, Fox Corp. netted $321 million on $4.6 billion in revenue. And during the phone-hacking scandal, Murdoch showed fierce loyalty.

☆ Logan Roy's fiery speech atop printer-paper boxes on 'Succession' evokes a real-life Rupert Murdoch moment
▼ + stars: | 2023-04-04 | by ( Sindhu Sundar | ) www.businessinsider.com time to read: +4 min

"Succession" patriarch Logan Roy rallied his fictional newsroom with a speech atop printer-paper boxes. In his speech, Murdoch told the reporters present that "We have to entertain, inform, enrich all our readers in their lives and in their businesses," according to Ellison's book. Representatives for Dow Jones and the Wall Street Journal did not respond to Insider's request for comment. "Then we all kind of stood around as people were literally dispatched to drag the printer boxes over to where Rupert planned to stand," she added. "The printer boxes, especially since we literally saw them dragged to their place, were key to the mood of menace and worry that day."

☆ Rupert Murdoch, 92, is getting married for the 5th time. He says he's 'looking forward to spending the second half' of his life with his fiancée.
▼ + stars: | 2023-03-21 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +3 min

Media mogul Rupert Murdoch is getting married for the fifth time, at the age of 92. The New York Post is one of the many publications that the Australian-born American billionaire owns. Murdoch married Hall in 2016. Murdoch told Adams that he was "very nervous" about falling in love again. Murdoch's media empire includes publications like The Wall Street Journal, Fox Corp, the New York Post, HarperCollins publishers, and more.

☆ Rupert Murdoch testified that Fox News hosts lied about the 2020 election. Here's why it wasn't a misstep.
▼ + stars: | 2023-03-06 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +8 min

Rupert Murdoch admitted Fox News hosts endorsed falsehoods about the 2020 election. Murdoch chairs Fox Corporation, which argues it isn't responsible for claims made on subsidiary Fox News. Here was the chair of Fox Corporation, a 91-year-old mogul atop a conservative media empire, admitting to lies that damaged democracy. When asked by Dominion's lawyers in a January deposition whether he thought Fox hosts were truthful about the election, Murdoch was candid. Fox Corporation also manages subsidiaries like Fox Sports, a large number of local TV stations, TMZ, Tubi, and a blockchain company.

☆ Lachlan Murdoch biographer breaks down his relationship with father Rupert Murdoch and why a merger of Fox and News Corp is about 'entrenching Lachlan's control'
▼ + stars: | 2022-11-30 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +10 min

A new unauthorized biography of Lachlan Murdoch explores his business profile and family relationships. Its author, Paddy Manning, speculates about who might exit if Rupert Murdoch's Fox Corp and News Corp recombine. Rupert Murdoch remains executive chairman of News Corp and chairman of Fox. Lachlan Murdoch was named Fox's CEO, and James Murdoch, after four years as CEO of 21st Century Fox, was left to carve his own path. If you're looking longer-term about who's going to run the company beyond the merger, if it happens, [News Corp CEO] Robert Thomson is probably retiring.

☆ Lachlan Murdoch biographer breaks down his relationship with dad Rupert and why his siblings want to change 'destructive' Fox News
▼ + stars: | 2022-11-10 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +9 min

A new unauthorized biography of Lachlan Murdoch explores his business profile and family relationships. Its author, Paddy Manning, speculates about who might exit if Rupert Murdoch's Fox Corp and News Corp recombine. Lachlan Murdoch was named Fox's CEO, and James Murdoch, after four years as CEO of 21st Century Fox, was left to carve his own path. Why did you want to write a book about Lachlan Murdoch? Did you talk to Lachlan Murdoch?

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