Murdoch gives his children £50m each
Sunday 04 February 2007
Latest in Media
On Facebook
From the blogs
‘French beer is unknown. We must change that’
Stereotypes die hard. ‘The Very Hungry Frenchman’, the BBC’s current television series following che...
Something for the weekend in London: February 17-19
To some, February is the month of lurrrve, to others it's the month of rain, snow and flu, but for u...
CC kills more people than cervical cancer; why haven’t we heard about it?
There is a disease whose incidence is rising in the UK and most of the industrialised world. However...
We need to avoid another ‘lost generation’
A tiny green shoot one day, and then a chill wind the next. Anyone hoping for signs of economic spr...
The media tycoon Rupert Murdoch has shared some of his fortune with his six children by granting them each shares worth more than £50m, the biggest redistribution of his wealth yet.
The head of News Corporation has given 4.4m shares to his offspring - the youngest of whom is just three - according to documents filed with US financial regulators. The allocation will not give the children a chance to control any of his business affairs, however, because the stock does not give them voting rights.
A News Corp spokesman said the gifts were simply "normal financial planning".
Mr Murdoch, 75, has said he would like to leave control of the company within his family, but it is unclear which of the children will claim the mantle. One son from his second marriage, Lachlan, 35, left the company in 2005 and moved to Australia, though he remains on the board. James, Lachlan's younger brother and head of BSkyB, is widely regarded as the frontrunner. Their sister Elisabeth is CEO of the independent TV production company Shine.
Mr Murdoch also has a daughter, Prudence, from his first marriage, and two children - Grace, five, and Chloe, three - with his present wife, Wendi Deng.
- 1 Rothschild loses libel case, and reveals secret world of money and politics
- 2 Vatican told to pay taxes as Italy tackles budget crisis
- 3 The West Bank's Bobby Sands
- 4 Prehistoric cybermen? Sardinia's lost warriors rise from the dust
- 5 Spotify: 1 million plays, £108 return
- 6 Female teachers accused of giving boys lower marks
- 7 The artist vandalising advertising with poetry
- 8 Apple admits it has a human rights problem
- 9 Mark Steel: If religion is 'marginal', I'm the Pope
- 10 Can you master a language in a weekend?
- 1 Vatican told to pay taxes as Italy tackles budget crisis
- 2 Pete Doherty: I was a bit unhinged
- 3 Rothschild loses libel case, and reveals secret world of money and politics
- 4 Greeks rage at erosion of sovereignty while leaders haggle over deal
- 5 Swiss to launch a space 'janitor'
- 6 Energy watchdog tells big firms: cut prices or else
- 7 Hey, You've got to hide your drug away
Free trial of new Independent iPad app
Get your daily dose of the best of British journalism, sponsored by American Airlines
Amazing restaurant offers
Three glasses of free champagne and a special menu at 46 top London restaurants.
Latest Independent competitions
Win anything from gadgets to five-star holidays on our competitions and offers page.
Commercial thought leaders
Watch the best in the business world give their insights into the world of business.
Career Services
Day In a Page
Dawn of the age of wireless medicine
Pete Doherty: I was a bit unhinged
Is there such a thing as a gastronomic gender divide?
The day I danced for a place in Danny Boyle's Olympics spectacular




Comments