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☆ Scotland Yard Will Review Email Deletions in News Corp Hacking Scandal
▼ + stars: | 2024-07-31 | by ( Jo Becker | Benjamin Mullin | ) www.nytimes.com time to read: +1 min

Scotland Yard has opened a preliminary inquiry into the deletion of tens of millions of emails during the British phone-hacking scandal that rocked Rupert Murdoch’s news media empire more than a dozen years ago. The development could entangle current and former News Corp executives, including the chief executive of The Washington Post, in an inquiry into whether the deletions were aimed at obstructing justice. The inquiry threatens to reopen a tumultuous chapter in British news media and political history. The scandal toppled Mr. Murdoch’s best-selling tabloid newspaper, News of the World, and led to criminal charges and years of civil lawsuits. Many hacking victims have argued for years that Mr. Murdoch’s British company, News UK, improperly purged emails to limit the fallout.

Persons: Rupert Murdoch’s, Murdoch’s Organizations: News Corp, The Washington Post, News UK Locations: Murdoch’s British

Mr. Vance’s stumbles have come after a remarkable two weeks when Mr. Trump survived an assassination attempt, and then rallied the party — and even some skeptics — behind him. Then, in a sense, Mr. Trump and Mr. Vance were the victims of that success. Image Mr. Vance, center right, and Mr. Trump at the Republican National Convention earlier this month. Some of Mr. Vance’s comments on some conservative podcasts veered into serious policy critiques that trucked in antisemitic tropes and racial stereotypes. Still, the Harris campaign was happy with the bruises they had inflicted.

Persons: JD Vance, Ohio, Donald J, Vance, Trump, deriding, Vance’s, Harris, “ I’ve, ”, —, Kamala Harris, Biden, Doug Mills, pushback, Dave Portnoy, Steven Cheung, “ We’re, Jean Carroll, Jennifer Aniston, Tucker Carlson, they’ve, Hillary Clinton’s “, Rupert Murdoch, Doug Burgum, Hiroko Masuike, Carlson, Harris’s, “, Mr, Kelly, ” George Soros, Soros, Taylor Van Kirk, Brian Schatz, Chris Murphy, Trump’s, Marco Rubio, ” Mr, Rubio, they’re, ” Sarafina Organizations: Trump, Democratic, Republican National Convention, Republican, New York Times, Barstool Sports, Publicly, Fox News, The, Mr, Credit, CNN, Democrat, Democratic National Committee Locations: Ohio, Middletown , Ohio, Milwaukee, New York, North Dakota, SiriusXM, Columbus, California, Hawaii, Connecticut, Florida

Mr. Vance’s stumbles have come after a remarkable two weeks when Mr. Trump survived an assassination attempt and then rallied the party — and even some skeptics — behind him. Then, in a sense, Mr. Trump and Mr. Vance became the victims of that success. Some of Mr. Vance’s comments on some conservative podcasts veered into serious policy critiques that trucked in antisemitic tropes and racial stereotypes. The Harris campaign has been able to keep the spotlight on the momentum behind her fledgling presidential run — and away from Mr. Trump. Still, the Harris campaign was happy with the bruises they had inflicted.

Persons: JD Vance, Ohio, Donald J, Vance, Trump, deriding, Vance’s, Harris, “ I’ve, ”, —, Kamala Harris, Biden, Doug Mills, pushback, Dave Portnoy, Steven Cheung, Mr, Cheung, “ We’re, Jean Carroll, Jennifer Aniston, Tucker Carlson, they’ve, Hillary Clinton’s “, Rupert Murdoch, Doug Burgum, Hiroko Masuike, Carlson, Harris’s, “, Kelly, ” Mr, ” George Soros, Soros, Taylor Van Kirk, William Martin, Brian Schatz, Chris Murphy, Trump’s, Marco Rubio, Rubio, they’re, ” Sarafina Organizations: Trump, Democratic, Republican National Convention, Republican, New York Times, Barstool Sports, Publicly, Fox News, The, Mr, Credit, CNN, Senate, Democrat, Democratic National Committee Locations: Ohio, Middletown , Ohio, Milwaukee, New York, North Dakota, SiriusXM, Columbus, California, Hawaii, Connecticut, Florida

☆ Southwest ditching its unassigned seat policy shows how budget airlines' business models are getting upended
▼ + stars: | 2024-07-26 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, Southwest ditching its unassigned seat policy is a sign of the end times for budget airlines as we know it. Southwest Airlines is ending its open seating policy , opting for assigned and premium seating options. Between paid seat assignments and premium seating, Southwest could add as much as $3 billion in new revenue, according to one analyst. AdvertisementKevin Carter/Getty ImagesThe real pain of the current travel landscape is being felt by budget airlines. That's why Southwest's decision to end its open seating policy could be a sign of the end of budget airlines as we know it, writes BI's Taylor Rains and Pete Syme.

Persons: —, Chelsea Jia Feng, Elliott Management's, wasn't, Insider's Benjamin Zhang, Kevin Carter, BI's Taylor Rains, Pete Syme, Bob Jordan, Goldman Sachs, Jenny Chang, Rodriguez, Prince Williams, Getty, Griffin, Tyler Le, NKSFB, Chris Brown, Rupert Murdoch, Murdoch, they're, They're, Claudia Sahm, Donald Trump, Benjamin Netanyahu, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, Business, Southwest Airlines, Southwest, Southwest isn't, Bank of America, Getty, Bauer, Fox, News Corp, Mar Locations: Southwest, —, Taylor, Los Angeles, Lago, New York, London

☆ Inside the family feud over Rupert Murdoch’s media empire
▼ + stars: | 2024-07-25 | by ( Ally Hill | ) edition.cnn.com time to read: 1 min

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☆ What Rupert Murdoch Owns, and How He Built His Media Empire
▼ + stars: | 2024-07-25 | by ( J. Edward Moreno | ) www.nytimes.com time to read: +1 min

Rupert Murdoch, the 93-year-old media tycoon, spent the past 70 years building a global media empire that gave him influence in journalism, politics and pop culture. He’s now locked in a court battle with three of his children over the future of the business, which own Fox News, The Wall Street Journal, The New York Post and major newspapers and television outlets in Australia and Britain. With dozens of acquisitions, Mr. Murdoch created the media conglomerate known for the rise of the modern tabloid and conservative commentary. Here’s how Mr. Murdoch built his empire:1950sThe Australian-born mogul ventured into media in 1952 when he inherited his family’s business after the death of his father, Keith Murdoch. A 21-year-old Oxford student, he inherited The News of Adelaide, a newspaper in southern Australia with a circulation of 75,000.

Persons: Rupert Murdoch, Murdoch, Keith Murdoch Organizations: Fox News, Street, The New York Post, Britain, Fox, Oxford Locations: Australia, Britain, Australian, Adelaide

☆ Here's how moguls like Rupert Murdoch control their companies — without owning their companies
▼ + stars: | 2024-07-25 | by ( Peter Kafka | ) www.businessinsider.com time to read: +1 min

The Murdoch family is fighting over control over its media empire — even though it doesn't own all of it. The fight is over what happens to the company's voting shares — the ones that give the Murdochs the ultimate say. That's a set-up that's used quite often in media and tech: It lets moguls and founders take public money, without giving up power. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementRupert Murdoch is fighting with his children over control of his media empire, and the "Succession"-style brawl is headed for a Nevada courtroom.

Persons: Murdoch, —, Rupert Murdoch Organizations: Service, News Corp, Fox, Business Locations: Nevada

☆ Rupert Murdoch's succession plans just got a lot more like 'Succession'
▼ + stars: | 2024-07-25 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +4 min

Read previewAn intrafamily battle that could have been pulled straight out of the page of Jesse Armstrong's "Succession" has been playing out behind the scenes for the future of Rupert Murdoch's vast media empire. Lachlan, who is sometimes seen as a parallel to Roman Roy, as Business Insider's Madeline Berg reported, would likely preserve the political leanings of the media empire once he takes over. AdvertisementMurdoch's decision to give Lachlan control of his media empire has left the patriarch estranged from his three eldest children, according to the Times. None of the three children attended Murdoch's wedding to Elena Zhukova in June at his California vineyard, according to the Times report. Elisabeth left the media empire years ago in 2000, while Prudence is said to be the least involved in the business.

Persons: —, Jesse Armstrong's, Rupert Murdoch's, Rupert Murdoch, Lachlan Murdoch, Lachlan, — James, Elisabeth, Prudence —, Rupert, Roman Roy, Madeline Berg, James, Prudence, Murdoch, Elena Zhukova, Donald Trump Organizations: Service, Fox, News Corp, Fox News, Street Journal, The New, The New York Post, Business, The New York Times, Times, New Yorker Locations: The New York, Reno , Nevada, Nevada, California

☆ Secret family battle for Murdoch empire revealed in sealed court documents: NYT
▼ + stars: | 2024-07-25 | by ( Jessie Yeung | ) edition.cnn.com time to read: +5 min

CNN —The Murdoch family, famous for helming one of the world’s most influential news empires, is locked in a secret court battle over succession and control, according to a New York Times report citing sealed court documents. By granting control to only Lachlan, Murdoch is arguing in court, he is protecting the companies’ value – which then benefits all his heirs, according to The Times. He began learning the family business at a young age and rose quickly through the ranks. Rupert Murdoch with his sons Lachlan (left) and James (right) attending his wedding to Jerry Hall in London on March 5, 2016. While apparently considered the most similar to Rupert, Elisabeth has struggled to advance in the family business.

Persons: Murdoch, Rupert Murdoch, ”, Rupert Murdoch’s, – Lachlan, James, Elisabeth, Prudence –, Lachlan, –, Prudence, Jerry Hall, Max Mumby, James –, Joe Biden’s, Kathryn, Rupert, Logan Roy, Jim Rutenberg, ” Rutenberg Organizations: CNN, New York Times, Fox Corporation, News Corporation, Street, New, New York Post, Forbes, Fox Corp, News Corp, The Times, Times, Lachlan, Fox News, Democratic, Republican Party, Disney Locations: New York, London, Australia, “

An “irrevocable” trust? Rupert Murdoch is showing yet again that real life can be more fascinating than fiction. It’s about control of a global media business with extraordinary political power, one that’s still trying to preserve its influence in America and elsewhere. The context: When Murdoch dies, control of the family’s companies, including the broadcaster Fox and the newspaper publisher News Corp, will be shared among his four eldest children via the trust. Under the arrangement, Prudence, Lachlan, James and Elisabeth will each get an equal say in how the businesses are run.

Persons: Rupert Murdoch, —, Jim Rutenberg, Jonathan Mahler, isn’t, Murdoch, Prudence, Lachlan, James, Elisabeth Organizations: Fox, News Corp Locations: Nevada, America

☆ The Secret Battle for the Future of the Murdoch Empire
▼ + stars: | 2024-07-24 | by ( Jim Rutenberg | Jonathan Mahler | ) www.nytimes.com time to read: +1 min

Rupert Murdoch is locked in a secret legal battle against three of his children over the future of the family’s media empire, as he moves to preserve it as a conservative political force after his death, according to a sealed court document obtained by The New York Times. Mr. Murdoch, 93, set the drama in motion late last year, when he made a surprise move to change the terms of the Murdochs’ irrevocable family trust to ensure that his eldest son and chosen successor, Lachlan, would remain in charge of his vast collection of television networks and newspapers. The trust currently hands control of the family business to the four oldest children when Mr. Murdoch dies. Those three siblings — James, Elisabeth and Prudence — were caught completely off-guard by their father’s effort to rewrite what was supposed to be an inviolable trust and have united to stop him. Remarkably, the ensuing battle has been playing out entirely out of public view.

Persons: Rupert Murdoch, Murdoch, Lachlan, — James, Elisabeth, Prudence — Organizations: The New York Times

CNN —President Joe Biden outraised – and dramatically outspent – the campaign of Republican rival Donald Trump last month, new campaign reports filed Saturday show, raising questions about how long the president’s political team can operate at full throttle if donations dry up. By contrast, Trump’s campaign spent just shy of $10 million, leaving $128 million in its war chest. One fundraiser that proceeded over the weekend in Cape Cod brought in more $2 million, campaign officials said. Trump’s campaign, meanwhile, has consistently spent far less than Biden’s. A super PAC backing Trump’s candidacy, MAGA Inc., meanwhile, entered July with nearly $114 million in available cash.

Persons: Joe Biden outraised –, Donald Trump, –, Biden’s, Ohio Sen, JD Vance, – won’t, Biden, Kamala Harris, ” Harris, Saturday’s, Harris, he’ll, Charlie Spies, Biden outraised, Trump, Reid Hoffman, Eric Schmidt, James Murdoch, Rupert Murdoch, Kathryn, MAGA, Robert Bigelow, Linda McMahon, CNN’s Edward, Isaac Dovere, Samantha Waldenberg Organizations: CNN, Republican, Democratic, Federal, Commission, Republican National Committee, Committee, Biden, Democratic Party, Republican National Convention, Ohio, Street, Trump, PAC, Save, LinkedIn, Google, Fox News, MAGA Inc, Small Business Administration, RAI Services Locations: Atlanta, Cape Cod, New York, Manhattan, Save America

☆ Lou Dobbs, veteran cable news anchor and Trump booster, dies at 78
▼ + stars: | 2024-07-18 | by ( Oliver Darcy | ) edition.cnn.com time to read: +3 min

CNN —Lou Dobbs, the longtime business news anchor who became one of Donald Trump’s most vocal supporters in media, died on Thursday. Trump regularly praised Dobbs in return, often posting clips of his show on his social media channels. Trump on Thursday praised Dobbs as a friend and “truly incredible journalist, reporter, and talent.”“He understood the World, and what was ‘happening,’ better than others,” Trump wrote on his social media platform. After the lawsuits were filed, Fox Business canceled Dobbs’ show, taking him off the air in an abrupt move announced on a Friday in February 2021. “We are deeply saddened by the passing of Lou Dobbs.

Persons: Lou Dobbs, Donald Trump’s, “, ’, ” Dobbs, Rupert Murdoch, “ Lou, Debi, ”, Donald Trump, Dobbs, Trump, ” Trump, Lou, Joe Biden, Smartmatic, ” Marshall Cohen Organizations: CNN, Fox Business Network, Republican Party, Trump, Fox Business, Voting Systems, Fox, Fox News, Dominion, U.S, U.S . Constitution, ” Fox, Fox News Media Locations: U.S .

☆ JD Vance’s populist persona leaves pro-worker groups skeptical
▼ + stars: | 2024-07-17 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

New York CNN —There’s a popular idea in political discourse known as the horseshoe theory. The idea is that if you map ideologies on a horseshoe-shaped spectrum, the far right and the far left are actually more closely aligned than the centrists on either side. Missouri Republican Sen. Josh Hawley is another young buck (44 is the new 24 in Congress) who’s all-in on Trump and positioning himself as an advocate for workers. “Pro-worker is raising the minimum wage, ensuring people get overtime, supporting paid sick and family leave,” Terri Gerstein, the Director of the NYU Wagner Labor Initiative, told CNN. “Playacting as working class by dressing up in jeans and acting aggrieved doesn’t do anything for real working people who are struggling.”

Persons: CNN Business ’, New York CNN —, we’ve, Ohio Republican Sen, JD Vance, —, Donald Trump’s, Vance, Reagan, Lina Khan, Biden, ” Vance, Wall, Massachusetts Democratic Sen, Elizabeth Warren, New York Times ’ Ross, Bernie Bros, ” Vance isn’t, Missouri Republican Sen, Josh Hawley, who’s, Hawley, –, Democrats –, ”, Rupert Murdoch, Ken Griffin, Trump, Liz Shuler, “ Sen, he’s, ” Terri Gerstein, NYU Wagner, “ Playacting Organizations: CNN Business, New York CNN, Ohio Republican, Yale, Silicon, Massachusetts Democratic, New York Times, GOP, Missouri Republican, Trump, Democrats, Time, ” Media, Washington Post, AFL, “, NYU, NYU Wagner Labor Initiative, CNN Locations: New York, Silicon Valley, Massachusetts, American

☆ Rupert Murdoch Shows Up at Republican Convention
▼ + stars: | 2024-07-16 | by ( Jim Rutenberg | ) www.nytimes.com time to read: +1 min

Ron DeSantis, bestowing Mr. DeSantis with the brute-force promotional heft that only he could deliver. But on Tuesday, Mr. Murdoch, the recently retired global media titan, was in Milwaukee to take his place among the rank-and-file Republican faithful. And with that, he became one of the most prominent one-time Trump detractors to line up behind the former president and join a convention that has doubled as a resounding show of Republican unity. Mr. Murdoch, 93, has not been a regular at conventions. But his appearance is also another extraordinary turn in his contorted relationship with Mr. Trump, whose unshakable hold over the audience of Mr. Murdoch’s major cable network, Fox News, has kept Mr. Murdoch yoked to the former president for the better part of the past decade.

Persons: Murdoch, Rupert Murdoch, Donald J, Trump, “ Trump, Trump’s, Ron DeSantis, Murdoch yoked Organizations: Trump, Republican, Gov, Wall Street, The New, The New York Post, Fox News Locations: Milwaukee, The New York

That person, Tesla billionaire Elon Musk, was one of several people urging Trump in the final moments to select Ohio Sen. JD Vance. Only moments earlier, Trump had shared the information with Vance himself, according to multiple people familiar with the call. Trump spent the final 24 hours waffling over his pick, multiple sources told CNN, leaving even those in his inner circle guessing about his ultimate choice. Several Republican donors argued for Youngkin as Trump’s pick in recent days as it became clear that Rubio and Burgum may not make the cut. “I can’t stomach Trump,” Vance said in an interview with NPR at the time.

Persons: Donald Trump’s, Elon Musk, Trump, Ohio Sen, JD Vance, Vance, ’ ” Vance, “, ’, Vance wasn’t, Vance’s, David Sacks, Monday’s, ” Vance, Doug Burgum, Florida Sen, Marco Rubio, Rubio, South Carolina Sen, Tim Scott, Glenn Youngkin, Mike Pence, Pence, he’d, Burgum, Donald Trump Jr, Steve Bannon, Trump’s MAGA, Tucker Carlson, Rupert Murdoch, Sean Hannity, Bannon, Carlson, president’s MAGA, Usha Chilukuri Vance –, –, Sacks, Steve Witkoff, Alabama Sen, Tommy Tuberville, Jim Banks, waffled, Trump Jr, I’ve, “ America’s Hitler, ”, CNN’s Dana Bash, ” Vance’s, Mike DeWine, wouldn’t, ” CNN’s Kristen Holmes, Kit Maher Organizations: CNN, Ohio, Vocal, Republican National Convention, Fox News, GOP, Trump, Trump’s, North Dakota Gov, Burgum, Virginia Gov, Indiana, Youngkin, Fox News Corp, onetime Fox News, Trump Jr, Indiana Rep, Mar, Ohio Republican, Democrats, NPR, Ohio’s Republican, Yale Locations: Milwaukee, Pennsylvania, Michigan, California, Butler , Pennsylvania, Florida, South Carolina, Ohio, Cincinnati, Alabama, North Dakota

☆ Elon Musk, Tucker Carlson, and David Sacks personally lobbied Trump to pick Vance: report
▼ + stars: | 2024-07-16 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +4 min

Read previewTesla billionaire Elon Musk, former Fox News host Tucker Carlson, and venture capitalist David Sacks personally lobbied Donald Trump to select JD Vance as his running mate, according to Axios. Axios said that a secret lobbying campaign continued into Monday morning, led by key figures such as Musk, Carlson, and Sacks. Tucker Carlson praised JD Vance after he was announced as Trump's VP nominee. Advertisement"When the Twin Towers came down, JD Vance enlisted in the Marine Corps, gung-ho to exact justice on America's enemies," Sacks wrote on X. Representatives for Donald Trump, JD Vance, Elon Musk, Tucker Carlson, and David Sacks did not immediately respond to requests for comment.

Persons: —, Elon Musk, Tucker Carlson, David Sacks, Donald Trump, Vance, Trump, Mike Allen, Doug Burgum, Sen, Marco Rubio —, Axios, Carlson, Sacks, Carlson's, Rupert Murdoch, doesn't, JD Vance, Ivan Apfel, JD, America's Hitler, Sean Hannity Organizations: Service, Fox News, GOP, Business, Truth, CNN, — North Dakota Gov, Trump, Politico, Federal Trade, Big Tech, Marine Corps Locations: Ohio, United States, —, Ukraine, Israel, Europe, American

☆ PIPs have rankled the Wall Street Journal newsroom and are at the center of a new lawsuit
▼ + stars: | 2024-07-09 | by ( Lucia Moses | ) www.businessinsider.com time to read: +6 min

Read previewAn uptick in disciplinary actions during Emma Tucker's reign at The Wall Street Journal has unnerved the newsroom, and now a former Journal reporter has filed a lawsuit challenging them. The lawsuit, filed by Stephanie Armour, alleges that she was fraudulently targeted for dismissal starting in April 2024 despite excelling in her job. Some said they saw the moves as a way to get rid of high-earning employees who are protected from being fired without cause by Journal publisher Dow Jones' union, IAPE. It was formed after Rupert Murdoch's acquisition of Dow Jones in 2007 to allay concerns of Dow Jones' longtime former owners, the Bancroft family. Dow Jones and editorial leadership haven't immediately responded to requests for comment from Business Insider.

Persons: —, Emma Tucker's, Stephanie Armour, they've, Dow Jones, Jodi Green, Rupert Murdoch's, Bancroft, Tucker's, Damian Paletta, Janet Adamy, Armour, Paletta, Amour, I'd, I've, Robert Housman, Housman, haven't, Tucker, Lucia Moses Organizations: Service, Wall, Business, Dow, Journal, Dow Jones & Co, Washington, District of Columbia, Hill Partners Locations: lmoses@businessinsider.com

☆ Sun Valley: Welcome to the secret summer camp for billionaires
▼ + stars: | 2024-07-09 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

The vibe is trail-dad chic — think puffy Patagonia vests and Apple watches and stealth-wealth cashmere pullovers. Sun Valley is also widely believed to be the place where Jeff Bezos decided to buy The Washington Post, and the site of the meet-cute between Comcast and NBC Universal. There are also some notably absent names from the guest list this year. Bob Iger, CEO of Disney and one of the most recognizable business leaders on the planet, wore a name tag and aviators at last year's Sun Valley summit. Questions about President Joe Biden’s ability to campaign have wealthy donors and Democratic officials in a tizzy.

Persons: ”, Jeff Bezos, Warren Buffett, Sam Altman, Bob Iger, Tim Cook, Meta’s Mark Zuckerberg, Google’s Sundar Pichai, Rupert Murdoch, Oprah Winfrey, David Zaslav, Zaslav, Kevin Dietsch, There’s Buffett, Greg Abel, Buffett, Astrid, Elon Musk, Joe Biden’s, Gretchen Whitmer, Josh Shapiro, Wes Moore, Biden, it’s, Hamilton Nolan Organizations: New, New York CNN, Friedman, Allen & Company, Washington Post, Comcast, NBC Universal, Idaho Mountain Express, Disney, Warner Bros, Bloomberg, Variety, Discovery, Paramount, Democratic Locations: New York, Hailey , Idaho, Sun Valley , Idaho, Idaho, America, Sun

☆ Rupert Murdoch just slashed the price of his Manhattan penthouse by half. See inside the $28.5 million apartment he can't seem to sell.
▼ + stars: | 2024-06-28 | by ( Maria Noyen | ) www.businessinsider.com time to read: +1 min

Rupert Murdoch has cut the price of his three-floor New York City apartment to $28.5 million. to $28.5 million. The media mogul, 93, listed the property for $62 million in 2022. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Now, in his latest bid to shift the property, he's selling it for $28.5 million, more than half its original listing price.

Persons: Rupert Murdoch, —, Elena Zhukova Organizations: Service, Fox Corporation, News Corp, Air, Business Locations: York City, Manhattan, New York City, Madison, Bel, Air , California

☆ Judge will consider $6 billion legal fees for lawyers who voided Elon Musk's multibillion pay package
▼ + stars: | 2024-06-28 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +4 min

Read previewA Delaware judge still wants to consider a $6-billion request in legal fees from lawyers who shot down Elon Musk's multibillion-dollar pay package at Tesla regardless of the recent shareholder vote, court documents show. In January, Chancellor Kathleen McCormick of the Delaware Chancery Court ruled against Elon Musk's pay package that would've awarded the Tesla CEO more than $55 billion in stock at the time. With the outcome, lawyers representing Richard Tornetta, the Tesla shareholder who objected to the compensation plan, argued that they provided a valuable service in getting Musk's package rescinded. But Musk received some good news in June after shareholders voted to re-approve the CEO's pay package and maintain the current board structure with Kimbal and James Murdoch. Chancellor McCormick will have to decide on the fate of the package and whether the plaintiff's attorneys do deserve about $6 billion in legal fees.

Persons: —, Elon Musk's, Kathleen McCormick, McCormick, Richard Tornetta, Musk, James Murdoch, doesn't, Chancellor McCormick, James, Park Organizations: Service, Elon, Business, University of California, Tesla Locations: Delaware, Los Angeles

☆ Will Lewis Says He Helped Hacking Investigation. Scotland Yard Had Doubts.
▼ + stars: | 2024-06-24 | by ( Jo Becker | Justin Scheck | ) www.nytimes.com time to read: +1 min

Will Lewis, now the publisher of the Washington Post, was in full crisis mode in 2011. Then an executive at Rupert Murdoch’s News Corporation, he was an intermediary to the police detectives investigating a British phone-hacking scandal that had placed the company’s journalists and top leaders in legal peril. For years, reporters at News Corporation’s best-selling British tabloid had landed scoops by paying public officials and illegally listening to the voice mail messages of royals, politicians, celebrities and even a murdered girl. Mr. Lewis was supposed to cooperate with police, identify wrongdoing and help steer the company through the crisis. His role, he would later say, was as a force for good.

Persons: Will Lewis, Lewis Organizations: Washington Post, Rupert Murdoch’s News Corporation, The New York Times, London’s Metropolitan Police, News Corp

☆ The billionaire summer calendar: How the world's wealthiest business icons spend their warmer months
▼ + stars: | 2024-06-22 | by ( Madeline Berg | ) www.businessinsider.com time to read: +1 min

Olympics: July 26-August 11The Olympic Games are a favorite for sports-loving billionaires like Bill Gates, seen here in 2008 at the Beijing Games. Tony Marshall - EMPICS/Getty ImagesWhile the Olympics are, in theory, an event for every spectator, billionaires enjoy the games a little differently and will do so in Paris this year. Billionaires with no official connection to this year's Olympics will no doubt be there, too, and in style. Bill Gates and Rupert Murdoch have attended the event with their families in years past, and newly minted billionaire Magic Johnson has played for Team USA and carried the Olympic torch. Tickets to events like the women's gymnastics final cost $6,500 each from the official ticket seller.

Persons: Bill Gates, Tony Marshall, Bernard —, Hennessy, Rupert Murdoch, Magic Johnson, Vistajet, Fraser Organizations: Beijing Games, Chandon, Team USA, Guardian Locations: Paris

Trump’s campaign insists the former president is his own best adviser and he alone will make the call. Vance,” Trump Jr. told Newsmax in January. That’s a key concern of Trump’s top advisers who have otherwise let the former president dictate the process. “President Trump should not be made to explain other people’s scandals or statements.”Burgum’s wealth may have worked in his favor for a time when Trump trailed President Joe Biden in the money wars. But the recent influx of cash into the campaign following Trump’s fundraising blitz and criminal convictions has blunted that advantage.

Persons: Donald Trump, Donald Trump Jr, Sen, J.D, Vance, Rupert Murdoch, Trumpworld, Doug Burgum, Sean Hannity, Florida Sen, Marco Rubio, Trump, —, Burgum, Rubio, South Carolina Sen, Tim Scott, Elise Stefanik, Byron Donalds, Ben Carson, “, Susie Wiles, Chris LaCivita, Wiles, “ Susie, Nikki Haley, Scott, In Rubio, Hannity, Kellyanne Conway, Trump’s, Mike Pence, Conway, ” Conway, namechecked Donalds, Marc Andreessen, Brian Hook, Bill Ackman —, Ken Griffin, Griffin, Haley, Steve Bannon, Bannon, Paul, Trump’s Jesus, Jesus, ” Bannon, ” Trump, Newsmax, ” Tucker Carlson, Carlson, Vance “, I’ve, Pence, ”, bankroll, Marco Rubio’s, Joe Biden Organizations: CNN, Ohio Republican, North Dakota Gov, Fox News, Florida, Trump, Republican National Convention, House GOP, Florida Rep, Urban, Street, South Carolina Gov, Indiana Gov, Washington Post, Democratic Party, The New York Times, Wednesday, White, Politico, Trump Jr, GOP, Fox, North, Republican, New, ”, Wall Street, Murdoch’s, Corp, “ Locations: Milwaukee, South Carolina, Florida, New York City, Nevada, Conway, Mar, Washington, South Florida, Miami, Vance’s, North Dakota, White

☆ Pulitzer Prize-winning Washington Post journalists call for leadership change amid publisher scrutiny
▼ + stars: | 2024-06-20 | by ( Oliver Darcy | ) edition.cnn.com time to read: +4 min

CNN —Two Pulitzer Prize-winning journalists at The Washington Post went on the record late Wednesday, calling for leadership change at the storied newspaper as questions swirl over the integrity of its new publisher and chief executive, Will Lewis. “Will Lewis needs to step down for the good of The Post and the public,” Higham replied in a comment on Maraniss’ post. “He has lost the newsroom and will never win it back.”Spokespersons for Bezos and The Post did not immediately comment. Inside The Post’s newsroom, morale has plunged as staffers express alarm over Lewis’ conduct and worries over the future direction of the newspaper under his leadership. “Bezos must recruit an accomplished, experienced editor whom journalists admire and trust.”

Persons: Will Lewis, “, ” David Maraniss, ” Maraniss, Jeff Bezos, Lewis, ” Scott Higham, Maraniss, “ Will Lewis, ” Higham, ”, Lewis ’, Robert Winnett, Rupert Murdoch’s, David Folkenflik, ” Lewis, Bezos, ” Bezos, Jeffrey Sonnenfeld, Sonnenfeld, Katharine Graham, Ben Bradlee, Marty Baron, ” Sonnenfeld, “ Bezos Organizations: CNN, The Washington Post, The, New York Times, NPR, Post, Yale School of Management

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