On March 11 in the year 1931, one of the men who obtained mega fortune in the media industry was born in Victoria, Australia. His name is Keith Rupert Murdoch, the founder of News Corporation, one of the largest media organizations in the world. His net worth is estimated by forbes.com at $22.7 billion as of May, 2021.
Rupert Murdoch was the son of an editor and publisher. He obtained a bachelor and master’s degree from Oxford University. In 1952 at the age of 21, he took over the management of Australian two newspapers after the death of his father. In the next few years, he purchased other newspapers not only in Australia but also in Great Britain and the United States. In 1979, he founded the News Corporation as a holding company for all his newspaper businesses.
Rupert Murdoch is known to have increased the circulation of his newspapers by focusing on sensational headlines which are printed in big letters. With emphasis on sex scandal and sports, he became to be known as the father of modern tabloid.
In the early 1980s, Rupert became an American citizen to satisfy a legal requirement before owning US-based television stations. He then purchased in 1985 controlling stock of Twentieth Century Fox for $250 million. Shortly after, he acquired the remaining stocks for $325 million. The following year, he formed Fox Broadcasting Corporation to operate the newly acquired television stations.
Rupert Murdoch married four times and has six children. In 2009, one of his England-based newspapers became the subject of highly-publicized investigation due to reported involvement of his employees and executives in widespread phone-hacking. Eventually, he was declared unfit to run a major corporation.