Rupert Murdoch Earns $23M in Final Year at Fox, Lachlan Earns $21.7M

Moguls' latest fiscal year compensation packages were revealed.Fox Corp., Fox News' parent firm, announced that Rupert Murdoch and son Lachlan received $22.9 million and $21.7 million in pay in the fiscal year ending June 30, 2023.

Rupert Murdoch will become chairman emeritus on Nov. 17, the day of the company's annual meeting, ending his tenure as chairman.

Fox chairman Rupert Murdoch received $22.9 million in remuneration last fiscal year, up from $18.4 million and $31.1 million two years prior. 

Fox's executive chairman and CEO, Lachlan Murdoch, earned $21.7 million, unchanged from a year earlier and down from $27.7 million.

Fox also nominated former Australian Prime Minister Tony Abbott and Magic Leap CEO Peggy Johnson to replace board members Anne Dias and Jacques Nasser, who will depart in November. 

After Nasser leaves, the business must nominate a new lead independent director.

In a regulatory filing, Fox disclosed the compensation of the Murdochs and other top executives, 

including COO John Nallen ($10.7 million in the fiscal year), CFO Steve Tomsic ($6.9 million), and legal and policy chief Viet Dinh ($10.7 million), who will leave the company later this year. 

Fox News, Fox Sports, Fox broadcast network, TV stations, and Tubi are its assets.

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