Rupert Murdoch to Receive Over $142 Million in Pension Benefits
The media mogul owns more than 16% of the pension plan's assets given his long tenure at the company
Rupert Murdoch will receive just over $142 million in pension benefits when he officially steps down as chairman of the boards of Fox Corporation and News Corp in November.
Murdoch will be appointed chairman emeritus of both companies at an annual shareholder meeting in November, according to a press release. His oldest son, Lachlan Murdoch, will succeed him as sole chair of News Corp and remain executive chair and CEO of Fox Corp following the meeting.
The elder Murdoch's pension benefits as of June 30, 2022, reflect his ownership of more than 16 percent of the plan's assets, according to Pension and Investments, a trade publication. The Fox pension plan had more than 2,000 active participants and fair value assets of $853 million as of the end of June 2023, the outlet said.
Murdoch does not participate in News Corp's retirement plan, according to the company's latest proxy statement.
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