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Rupert Murdoch, chairman of News Corp (NWS) has three wives and six children. In addition, he also has two living sisters, a 100-year old mother, one deceased sister, and a father who passed away in 1952.
His biographer, Michael Wolff, divulged more facts about the Rupert’s family. He said that Rupert’s first wife is Patricia Murdoch. She was an intern at his paper but the family disapproved this marriage so it lasted only from 1956-1967. Then during the recession from 1990-1991, Rupert’s wife was Anna Torv Murdoch and he promised her that he will retire as soon as the company goes out the mess.
Unfortunately, this didn’t happen because in 1999, the couple was divorced. Then on the same year, Rupert was married to Wendi Deng, a young executive in News Corp where he had two more children later on. Everybody could have been happy except that when Rupert was divorced, he left the voting shares of his News Corp to a trust controlled by four of his children - called the Murdoch Family Trust. In addition, he agreed to Anna’s stipulation in the trust that no new children should be admitted to this trust.
But Wendi can’t accept this arrangement and so a new one has to be created. Suddenly, the kids of Wendi are now allowed into Murdoch Family Trust (without voting participation). Rupert also paid $150 million to each of his first four children. |
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