This archive report was first published on 11 August 2019.
On August 11, 2019, a New York Times investigation revealed that Rupert Murdoch's media empire had grown powerful enough to sway elections. Just a few months prior, in March 2019, Murdoch sold 21st Century Fox to Disney for $71 billion, a deal previously reported by Business Insider.
Murdoch's holding company, News Corp, owns a diverse portfolio of assets, including The New York Post, The Times of London, and The Wall Street Journal publisher Dow Jones & Company. At 88 years old, Murdoch currently oversees Fox News, a property of News Corp.
According to The Times, Murdoch has a close personal relationship with President Trump and frequently calls him in the Oval Office. The Murdoch family's collective net worth is estimated at $20.9 billion, with Murdoch himself having a net worth of $7.35 billion, according to Bloomberg.
Murdoch's media empire began humbly in 1952, when he owned a single regional newspaper in his Australian hometown. Since then, he has built a global media empire that spans three continents.
