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Billionaire Lachlan Murdoch Buys 68-Year-Old Superyacht

When your superyacht's also your tinnie...

Image Credit: Boat International/Guillaume Plisson

Lachlan Murdoch, heir to the Murdoch media empire, has reportedly purchased a fully refurbished, 43-metre long yacht for a cool $30 million ($22.5 million USD). 

The freshly re-done 1954 motor yacht, Istros , was sold over a month ago. The Sydney Morning Herald reports that their sources say Istros will be motoring into Sydney Harbour in the near future, where it will be docked nearby the Murdoch’s $100 million ($75 million USD) Bellevue Hill Estate called Le Manoir. 

News of the sale comes as Murdoch awaits the delivery of his 60-metre, $150 million sailing yacht which is still under construction at the Royal Huisman Shipyard in Amsterdam — which means that the Istros is essentially the Murdoch family’s very, very expensive ‘tinnie.’ 

The delicately refurbished 68-year-old ‘tinnie’ comes with 5 staterooms that can accommodate up to 10 guests, state of the art satellite TV technology as well as a fully stocked private bar and lounge area on the top deck. That’s quite the cruise-about.

The two new ships will pair extremely well with the family’s new Point Piper ‘boat shed,’ which Lachlan and his wife Sarah Murdoch reportedly paid a staggering $37 million for, granting it the official title of “ Australia’s most expensive boat shed .”

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When the family relocated from Los Angeles to Sydney over a year ago, there was no certainty around how long they would be living in Australia, however The Sydney Morning Herald has now officially confirmed that the Murdochs have officially settled down in Australia, claiming that the election of Democratic President Joe Biden was a major factor behind the move. 

Lachlan Murdoch will maintain his position as the Executive Chairman and CEO of Fox Corporation, a conservative media outlet in the United States. The move probably won’t bother Lachlan too much, as he continues to jet back and forth between the US on his $90 million private jet.  

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Murdoch's superyacht 'Sarissa' arrives

Dutch carbon-fibre performance sloop with cockpit swimming pool.

Lachlan and Sarah Murdoch’s stunning new carbon-fibre superyacht Sarissa has arrived in Sydney in time for summer. Designed by Bill Tripp and built by Dutch yard Vitters, the cutting-edge yacht was two years in the making and is the largest carbon-fibre sloop built to date in the Netherlands.

Vitters Shipyard's website describes  Sarissa as a spectacular 42.6 m carbon globetrotter and performance sloop with a fully modern hull shape, sail plan, and foils. 

Hydraulic sailing and deck systems are said to provide improved reaction speed, load and stiffness to safely facilitate the sailing performance this modern and technical yacht was designed for.

Other custom technical features are an in-house developed hydraulic steering system with rudder feedback, as well as a unique system of back stays and running stays to operate both her cruising and racing sail configurations. The yacht has a lifting keel.

The mainsheet has been placed on an arch spanning the cockpit to keep the deck clear, while the aft cockpit can be transformed into a swimming pool for the kids.

Sarissa's design was guided by close client input and involvement, says Vitters, adding that the yacht will be used to sail all over the world with the family in tow and will take part in the established superyacht regattas.

The layout and deck plan emphasise a clean and modern look, while the family friendly layout below decks boasts a full-beam after stateroom, three guests cabins and three crew cabins.

The stunning interior is by Rhoades Young Design Ltd using a combination of limed oak, dark Italian walnut, Indian rosewood, carbon, dark leather and brushed stainless steel.

Finished in swordfish blue Alexseal paint, with a Ribling 555 tender in the 'garage', the 163 tonne Sarissa has a 56m carbon mast and will be hard to miss moored at Wooloomooloo in Sydney’s CBD.

Meantime, father Rupert reportedly listed his 184ft yacht Rosehearty , built by Perini Navi in Italy in 2006, for sale in September this year for $29.7 million. This followed his divorce from wife Wendi Deng.

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Lachlan Murdoch drops $29.8 million on an Australian boat shed

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Media heir Lachlan Murdoch just made a huge splash Down Under, buying a boat shed on the coast of Australia for about $29.8 million ($38 million in Australian dollars).

The mammoth sale was first reported by the Sydney Morning Herald and confirmed to The Times by a person close to the deal.

Murdoch — a son of billionaire Rupert Murdoch who serves as co-chairman of News Corp. and executive chairman of the Fox Corp. — is no stranger to huge real estate transactions. In 2019, he paid $150 million for the “Beverly Hillbillies” mansion in Bel-Air , which ranks as the second-priciest home sale in California history.

His new boat shed is much humbler than the Bel-Air mega-mansion. Clad in green shingles, the modest structure sits on 131 feet of waterfront in Point Piper, a small suburb of Sydney that regularly ranks as one of the country’s most expensive communities.

The reason for the eye-popping price tag? The depth of the bay, reported Forbes Global Properties when the shed first surfaced for sale earlier this year. Point Piper offers unusually deep water, which makes it much easier for the ultra-wealthy to moor their mega-yachts.

Murdoch’s place takes advantage of the setting with two boat docks and four moorings, as well as a swimming pool surrounded by flat, grassy lawns. The listing, which was held by Private Property Global’s Ken Jacobs, describes it as a “privately-owned marina facility attached to a residential property.”

A two-story structure sits at the center of the half-acre property. On the main level, a wood workshop with stained-glass windows offers space to store and work on boats. Above that, there’s an apartment with white walls, hardwood floors and picture windows overlooking the bay.

Vaulted ceilings top an open-concept space with a living room, dining area and wood kitchen. Elsewhere are two bedrooms and a bathroom.

Murdoch and his wife, model and TV host Sarah Murdoch, sold their previous home in Point Piper for about $14.55 million USD in 2005, according to the Sydney Morning Herald . Four years ago, they shelled out $29 million for a modern lodge on 45 acres in Aspen, Colo.

Lachlan Murdoch is the third of Rupert Murdoch’s six children and the elder of two sons. In the process of Rupert handing off his vast media empire , Lachlan was named News Corp.’s co-chairman in 2014 and Fox Corp.’s chairman and CEO in 2019. Forbes puts the Murdoch family’s net worth at $23.2 billion.

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Jack Flemming covers real estate for the Los Angeles Times. He was raised in St. Louis and studied journalism at the University of Missouri. Before joining The Times as an intern in 2017, he wrote for the Columbia Missourian and Politico Europe.

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Lachlan Murdoch pays $30M for half-acre Sydney Harbor boat house

Piper Point property can accommodate yachts

Lachlan Murdoch, the son of billionaire media mogul Rupert Murdoch, has purchased a small home on Sydney Harbor for around $29.8 million.

The Piper Point property’s value is largely because it has 131 feet of frontage on unusually deep water, according to the Los Angeles Times. That means it can accommodate large yachts.

The property has two docks and four moorings for that purpose, making it one of the area’s largest privately owned marina facilities attached to a home, according to Forbes Global Properties.

For that, it appears Murdoch paid the full asking price for the roughly half-acre property.

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The house is an entirely renovated two-story boat shed with a living area on the top floor and a luxury take on a workshop below, possibly for working on boats.

The living area has two bedrooms and a modest common space under vaulted ceilings. The lower level leads to a small lawn and swimming pool.

Its Murdoch’s biggest real estate deal since he bought L.A.’s Chartwell Estate for $150 million in late 2019. Earlier that year, his father sold 21st Century Fox Inc. to Walt Disney Co. for $12 million, which was distributed to the younger Murdoch and his siblings.

Lachlan Murdoch has been working at the upper echelons of his father’s companies since 2014 following a roughly 10-year hiatus. He is widely seen as his father’s successor to run those companies and was named Chairman and CEO of the Fox Corporation shortly after the Disney deal.

[ LAT , Forbes Global Properties ] — Dennis Lynch 

How Rupert Murdoch's son Lachlan went from reluctant heir, to outcast, to Fox Corporation and News Corp successor

Topic: Business, Economics and Finance

As Rupert Murdoch's first-born son, Lachlan was quickly anointed heir apparent to the family empire.  ( Getty Images: Peter Carrette Archive )

Rupert Murdoch has finally put to rest speculation about his succession plans.

From one single newspaper, the media mogul created a sprawling global empire that delivered him enormous influence, vast sums of money and made him a household name.

From Australia he went on to battle the UK media establishment, becoming the driving force behind the modern tabloid before making his mark in America as the shaper of conservative debate.

But at 92 years old, the matter of who would take over his life's work and help shape his legacy was still in doubt.

The possibility of being next in line has loomed over his children for most of their lives.

The next generation was often pitted against each other in a "Darwinian struggle" for their father's favour, a source close to the family told Vanity Fair.

Of his six children, the list of likely successors has often been narrowed down to just three: Lachlan, James or Elisabeth.

For reasons known only to Murdoch, he never considered his first born, Prudence, a viable contender.

By the time his next daughter, Elisabeth, was born to his second wife, Anna, Murdoch had evolved on the idea of a girl one day succeeding him.

But once she left the family business to strike out on her own, her two brothers were left to battle it out for heir apparent.

Despite James being known as the "smart one", Lachlan, as the first son, held a profound pull for the media mogul, according to biographer Michael Wolff.

Three of Rupert Murdoch's children spent their youth in competition to be his successor.  ( Getty: Peter Carrette Archive )

Each man was groomed, at different times, to take over the Murdoch business.

They were both involved in their father's empire until 2020, when James resigned from the news conglomerate citing "disagreements over certain editorial content".

It left the  path clear for Lachlan to inherit the leadership.

He is now set to become News Corp chairman and continue as chief executive officer of Fox Corp, after his father announced that he would be stepping down.

"Rupert Murdoch said in the 90s that Lachlan was the first among equals of the three siblings from his second marriage to Anna Murdoch — Lachlan, Elizabeth and James — and that is how it has panned out," Paddy Manning, journalist and author of The Successor: The High-Stakes Life of Lachlan Murdoch, told News Breakfast.

How Lachlan was groomed to take over

Lachlan was born in London, but raised in New York City, moving with his family to the United States as Murdoch sought to chase his fortunes across the Atlantic.

He is his father's eldest boy and since a very early age, Murdoch has made sure Lachlan was involved in his company.

His education was exactly what you'd expect for someone being groomed to run News Corp.

For decades, it was unclear which of Rupert Murdoch's children would succeed him.  ( Getty Images: Ron Galella Collection )

For the price of about $100,000 a year, Lachlan attended Dalton on the Upper East Side, then Trinity across the park, then Princeton where he graduated with a degree in philosophy in 1994.

All the while, he was competing with his siblings for the respect and favour of his father — even if he had already won the ultimate birth lottery by being the first boy born to a billionaire.

As children, the morning routine for the Murdoch siblings involved reading the papers they owned, and some others as well.

Their father would flag stories of interest and command "read that" before the heirs to one of the most powerful media empires in the world would catch the bus to school.

In the evening, the children would try to capture their father's attention by talking about politics and media and then they'd play monopoly.

As Lachlan and James were playing make-believe moguls and attempting to avoid make-believe jail as they moved across the Monopoly board, there was an intense rivalry.

At the age of just 22, Lachlan was sent to Australia, to his father's homeland, to run several mastheads, including Queensland's Courier Mail.

The only daily newspaper for Australia's third-biggest city was being run by a college graduate from New York City.

It was on a boat in Sydney Harbour in the late 1990s, at a party reportedly hosted by fashion designer of the moment Collette Dinnigan, that Lachlan met his future wife, model Sarah O'Hare.

Lachlan and Sarah O'Hare met on a boat in Sydney Harbour, thanks to an introduction by fashion designer Collette Dinnigan. ( Reuters )

They were married on a sprawling family estate in country New South Wales in 1998 before having three children — bringing the Murdoch family home to Australia for generations to come.

Lachlan's time in Australia in his mid-20s might have been a welcomed change from the halls of Princeton, with biographer Manning writing that his wife Sarah had "a whole group of fabulous friends" that came together "with his tight group of mates".

Nicole Kidman, Baz Luhrmann and other members of the 90s Sydney social scene royalty became close friends.

And when Lachlan eventually entered his rebellious era, he would return to the sandy shores of Sydney's Eastern suburbs and to his status as the biggest fish in the smaller Australian pond.

After he married Sarah, Lachlan went back to the US where he continued to climb the corporate ladder his father had built before him.

He was rapidly ascending to positions of power inside an institution that wielded more than most.

Of all Murdoch's children, Lachlan had the perfect position and the education to follow in his footsteps and he was gaining the experience to legitimise himself as the heir apparent too.

While Rupert Murdoch has six children, only Lachlan (left), James and Elisabeth were considered viable successors.  ( Reuters )

As he takes control of the empire now, Lachlan shares many of his father's political sympathies, but there was a time when he went his own way and when the world questioned whether he really would be king.

The prince in exile

During a confrontation with his father in LA in 2005, Murdoch tried to talk him out of quitting, offering him promotions and perks to tempt him to stay.

"Look, that's not going to work," Lachlan tearfully said over lunch, according to Manning's book The Successor.

"I have to do my own thing. I have to be my own man."

He got up, walked out of the restaurant, and boarded a private jet back to the safety of Sydney's Eastern Suburbs.

Murdoch told reporters that he hoped his son would one day return to the family empire that was meant to be his birthright.

Lachlan and Sarah Murdoch have been married for 23 years.  ( Reuters: Peter Nicholls )

Lachlan needed space from his family, but believed his father was secretly proud that he was striking out on his own.

"Proud that you are doing your own thing and that you've got the balls to do it, the guts to leave, the courage to leave," he said, according to New York Magazine.

Lachlan's first venture under his own steam was to found a private investment company, Illyria, splashing his cash on an Indian Premier League cricket team, an online DVD rental company, and a struggling toy maker.

After his two-year non-compete clause was over, Lachlan struck a deal with James Packer — a longtime friend who had inherited the Australian empire owned by his father's oldest rival.

The two would spend $3.3 billion to privatise the publicly listed Consolidated Media Holdings and hand themselves a fat stack of Australian media assets.

Alongside fellow heir James Packer (left), Lachlan set his sights on creating the Murdoch empire 2.0.  ( AAP: Julian Smith )

"My dad's not involved," the young Murdoch proudly announced.

"There's no News Corp money or association in any way."

But the deal quickly collapsed, and the two went their separate ways again, with Lachlan setting his sights on DMG Radio, which would become Nova Entertainment, one of his most profitable investments to date .

In 2010, Lachlan teamed up with Packer again, joining the board of television's Network Ten and parachuting into the role of interim CEO, then chairman.

At the head of the boardroom table once again, Lachlan oversaw many strategic and programming decisions, including wrangling his wife a gig hosting the revamped So You Think You Can Dance after she stepped away from Australia's Next Top Model on Fox.

"I find that long period in the wilderness for Lachlan confusing,"  Wolff told The Monthly in 2012 .

There were questions around why Lachlan had not "clarified his position" within the family and News Corp.

Wolff said it shone a light on "the fundamental ambivalence at the heart of where he finds himself".

"There is almost something Prince Charles–ish about him," he said at the time.

From the outside, the Australian Murdochs appeared to be thriving.

Sydney became a sanctuary for Lachlan and his family. When you have all the money in the world, Sydney can be like that.

A beachfront mansion, kids in elite schools, a deep tan from surfing the Bronte break every day and an easy entry into the city's tightest circles — business or otherwise.

After leaving the family business behind in 2005, Lachlan Murdoch moved to Australia and made celebrity friends, including Nicole Kidman.  ( Reuters: Brian Snyder BS/CP )

But the honeymoon didn't last long — Ten's share price was plummeting.

In a Crikey opinion piece titled Who really killed Channel Ten?, Glenn Dyer laid the blame squarely at Lachlan's feet.

"In other words, the billionaires, led by Murdoch, have helped blow up more than a billion dollars in balance sheet value at Ten," he wrote.

With the writing on the wall, the young Murdoch made a plan to reunite with his father.

After almost a decade away, Lachlan was back.

The relationship between Lachlan and his baby brother

Sibling rivalries can shape the dynamics of even the most functional family units, but when this amount of money and power is up for grabs, the stakes are sky high.

Though he may have been seen as Murdoch's "golden child", Lachlan's baby brother had been climbing the ladder, and their competitive childhood set the stage for an almighty showdown.

After years in exile, Lachlan was welcomed back into the family fold in 2015, just as James's mission to cement himself as heir apparent was beginning to come unstuck.

He'd spent years working to reposition the company as future-focused media conglomerate embracing the industry's digital transition.

Murdoch's four adult children from his first two marriages — Prudence, Lachlan, Elisabeth and James — will one day inherit his voting control of News Corp.  ( Reuters: Eddie Keogh  )

The prodigal son's return was "a big slap in the face", a person close to James told Vanity Fair.

After years devoted to modernising the media empire and chasing the warmth of his father's approval, James would now report to his older brother.

And the fact that it was Lachlan — rather than his father — who delivered the news only twisted the knife.

"James was livid. The two brothers and their father had explicitly discussed succession not even two years earlier. James was supposed to take over, and Lachlan would never assume more than a symbolic role," Jonathan Mahler and Jim Rutenberg wrote for New York Times Magazine in 2019.

"As James saw it, he had not only been promised the job; he had earned it."

Within three years, Lachlan was appointed as Fox Corporation CEO in the 21st Century Fox-Disney merger.

While he retained the jewels in his father's crown, Fox News and Fox Sport, James walked away from the empire with $US2 billion and a "clean slate".

In the years since, James has increasingly distanced himself from his family business, railing against climate change denialism  and election conspiracy peddling at Fox News.

Cutting the final ties in 2020, he resigned from the board of News Corp, noting "disagreements over certain editorial content published by the company's news outlets and certain other strategic decisions".

While he rarely comments on his relationship with his father, James conceded in a 2019 profile with the New Yorker that "there are periods of time when we do not [talk]".

In 2021, as the family was preparing to mark the patriarch's 90th birthday, Murdoch got word to James that it would mean a lot if all of his children could attend.

James skipped the event.

But the rift between the brothers is seen as the central tension.

Lachlan Murdoch was welcomed back into the family fold in 2015. ( AAP: Steven Saphore )

According to Vanity Fair sources , Lachlan told his father that James had been leaking stories to the writers of Succession, HBO's elite family drama that creators have openly acknowledged is inspired by the Murdochs.

And if there is any grain of truth to be taken from the fictionalised version of this media dynasty, Lachlan's relationships with his siblings could ultimately decide his fate after father is gone.

Since last year, Lachlan has been steadily taking on a greater role at Murdoch's biggest money-maker, Fox.

Tim Burrows, journalist and media commentator, says there was a baton passing moment from father to son in early 2022.

"Lachlan brought the boards of both Fox and News Corporation together at his Beverly Hills mansion in Chartwell and that kicked off talks about merging Fox and News Corporation," he told News Breakfast.

"And …really that proposal was designed to entrench Lachlan as the undisputed person in charge of the empire and I think that is what we have seen [with this recent announcement]."

But lingering questions over Lachlan's appointment remain, including why Murdoch has chosen this moment to finalise his succession plan.

They say in business, one must always have an exit strategy.

Rupert Murdoch has tapped Lachlan as his successor, but ruling the empire into the future is not guaranteed.  ( Reuters )

For someone with the business instincts sharp enough to leverage a single newspaper in Australia's fifth biggest city, to a global empire with undeniable influence over the highest powers in the United States, there will be a reason for dropping this news now.

In April, Fox settled a defamation lawsuit with Dominion Voting Systems — a company that produces equipment used to cast votes in American elections.

The hefty $787.5 million payout ended legal action brought by Dominion that alleged Murdoch's network had defamed it by knowingly broadcasting false claims that it was involved in a plot to steal the election.

Days later, Lachlan dropped his own defamation proceedings against Australia's Crikey . The Private Media brand had published an article referring to the family as "unindicted co-conspirators" in the US Capitol riots.

It was also April when Donald Trump was indicted for the first time. The former president is now facing charges in four different states — two of the cases are over his alleged efforts to overturn the 2020 election results.

For Trump, those dramas are only just getting started, but for the Murdoch family, there is a quiet lull between the fallout of the last US election cycle and the start of the next one.

The first Republican caucus is on January 15.

This move hands Lachlan editorial control over how the empire covers the candidates and who they select as their ultimate favourite.

Also, Murdoch will be approaching the age of 94 at the next inauguration.

The media mogul has stared down his share of health scares in recent years, but none that moved him to name an heir.

"It strikes me as probably about solidifying Lachlan at the top of the company, because the longer he's in that seat, the longer he might hold on it," Burrows said.

While the expectation is that Lachlan is unlikely to make any big changes in the short term, observers say when Murdoch eventually passes, his other adult children — James, Elisabeth, and Prudence — might look to take the company in a "much more dramatic, a different direction" .

All four will inherit a family trust with a 40 per cent stake in News Corp and Fox Corp, giving them a powerful voice in the future of the company.

But with equal voting rights, decision-making will be a delicate process of negotiation between the siblings.

The same appears to hold true of a possible succession battle. To unseat Lachlan from the top job, James would need the support of Elisabeth and Prudence.

"It's not like a real succession scenario right now, this minute," Alice Enders, head of research at Enders Analysis, told Reuters.

"It's more in the future I'd say."

Complex sibling dynamics are not the only challenge to Lachlan's leadership.

There is also the question of what the Murdoch empire is without the man who built it.

For now at least, Rupert Murdoch will continue to have a role to play, despite handing his son the keys to the kingdom.

"In my new role, I can guarantee you that I will be involved every day in the contest of ideas," he wrote in a letter to staff.

"Our companies are communities, and I will be an active member of our community. I will be watching our broadcasts with a critical eye, reading our newspapers and websites and books with much interest."

Lachlan Murdoch, eldest son of media titan Rupert Murdoch, was named sole chairman of News Corp and will continue as chair and chief executive of Fox Corp.  ( Getty: Drew Angerer )

40 Facts About Lachlan Murdoch

Written by Helsa Santiago

Published: 18 Sep 2024

• Entrepreneur Facts

Who is Lachlan Murdoch? Lachlan Keith Murdoch, born September 8, 1971, is a key figure in the global media landscape. As the eldest son of media mogul Rupert Murdoch, Lachlan has carved out his own path in the industry. From his early days managing newspapers in Australia to his current role as CEO of Fox Corporation, his journey is both intriguing and complex. He has faced significant challenges, including the One.Tel investment debacle and controversies surrounding Fox News. Despite these hurdles, Lachlan's influence remains substantial, shaping media narratives and impacting political discourse worldwide. Let's dive into 40 fascinating facts about this media heir.

Key Takeaways:

• Lachlan Murdoch, the media mogul, faced early career challenges and family conflicts, shaping his dynamic journey in the industry. His luxurious lifestyle and controversial media influence have sparked public interest.
• Despite his academic background in philosophy, Lachlan Murdoch's business decisions and media controversies have raised questions about his ethics and influence. His role in the media conglomerate reflects a complex family legacy.

Early Life and Education

Lachlan Murdoch's journey began in London and took him across the globe, shaping his future in the media industry.

Birth and Early Life : Lachlan Keith Murdoch was born on September 8, 1971, in Wimbledon, London, to Rupert Murdoch and his second wife, Scottish journalist Anna Maria dePeyster (née Torv).

Family Background : He is the eldest son of Rupert Murdoch, a media tycoon, and the third child of the family. His mother, Anna Maria, was a Scottish journalist and author.

Childhood : Lachlan spent most of his childhood in New York City, where his father owned the New York Post . He attended elite private schools such as the Dalton School and Trinity School.

Education : Lachlan received his primary and secondary education at the Aspen Country Day School in Aspen, Colorado, Trinity School in New York City, and Phillips Academy in Andover, Massachusetts. He graduated from Princeton University in 1994 with a bachelor's degree in philosophy.

Philosophy Thesis : During his time at Princeton, Lachlan wrote a senior thesis titled "A Study of Freedom and Morality in Kant’s Practical Philosophy," which explored German philosophy and morality.

Early Career and Media Ventures

Lachlan's early career set the stage for his significant roles in the media industry.

Early Career : In 1989, at the age of 18, Rupert Murdoch brought Lachlan to Australia for three months to train at the Daily Mirror . This experience laid the groundwork for his future career in the media industry.

Media Career : At 22, Lachlan was appointed general manager of Queensland Newspapers, the publisher of Brisbane's Courier-Mail . A year later, he became the publisher of Australia's first national paper, The Australian .

News Limited : In 1995, Lachlan was appointed deputy CEO of News Limited, and in 1996, he became an executive director of News Corporation. He later held the position of deputy chief operating officer from 2000.

STAR Chairman : Lachlan has been the chairman of STAR since 1995, a significant role in the Asian media landscape.

One.Tel Investment : Encouraged by his friend James Packer, Lachlan invested in the telecommunications venture One.Tel. However, this investment led to significant financial losses and criticism. In 2014, he and Packer agreed to a $40 million settlement over the failure of One.Tel.

Personal Life and Business Ventures

Lachlan's personal life and business ventures have been as dynamic as his media career.

Personal Life : Lachlan married British-born Australian model/actress Sarah O'Hare in 1999. The couple has two children together.

Business Ventures : After leaving News Corp. in 2005, Lachlan started an investment firm that focused on various businesses, including media companies and an Indian Premier League cricket team.

Return to News Corp. : In the mid-2010s, Lachlan returned to the family business after a phone-hacking scandal involving News Corp.’s News of the World led to its shutdown. He played a key role in trying to stabilize the company during this period.

Cochair of News Corp. : Upon his return, Lachlan and his brother James became cochairs of News Corp. and 21st Century Fox. However, their differing visions for the company's future led to significant internal conflicts.

Fox Corporation CEO : In 2019, Rupert Murdoch finalized the sale of most of 21st Century Fox's assets to Disney for $71 billion. Lachlan was appointed CEO of the new Fox Corporation, which includes Fox News, Fox Business, and other television networks.

Wealth and Lifestyle

Lachlan's wealth and lifestyle reflect his status as a media mogul.

Net Worth : Lachlan Murdoch is a billionaire, with an estimated net worth of over $1 billion. His wealth is largely tied to his family's media empire.

Private Jet : Lachlan owns a private jet, a Gulfstream G550 valued at $90 million. The jet is technically owned by News Corp. but is used by Lachlan for his frequent flights between Sydney and Los Angeles.

Luxury Cars : Although the exact number is unclear, it is believed that Lachlan owns multiple luxury cars, including Rolls-Royce, Lamborghini, Ferrari, and Bugatti. He has been associated with Porsche in the past, though there is no evidence he has ordered any Porsche Panamera Gran Turismo cars.

Residences : Lachlan owns several multi-million dollar mansions around the world, including properties in Australia, the United States, and the United Kingdom. His residences often feature luxurious amenities such as stylishly appointed bathrooms and overlong yachts.

Media Influence : As the head of Fox Corporation, Lachlan has been criticized for his role in promoting far-right politics and nationalism through Fox News. His network has been accused of spreading false narratives, particularly during the 2020 U.S. presidential election.

Philosophical Background and Business Failures

Lachlan's academic background and business decisions have shaped his career in unique ways.

Philosophical Background : Despite his career in media, Lachlan's academic background in philosophy has been noted. His thesis on Kant's practical philosophy reflects an interest in morality and ethics that contrasts with his later career choices.

Business Failures : Lachlan's decision to invest in One.Tel led to significant financial losses for News Corp. This experience has been highlighted in various biographies and media analyses as a major setback in his career.

Family Dynamics and Media Scandals

Lachlan's relationships within his family and involvement in media scandals have been widely discussed.

Family Dynamics : The relationship between Lachlan and his father, Rupert, has been complex. There have been reports of disagreements between them, particularly over the management of News Corp. and the direction of Fox News.

Brotherly Rivalry : Lachlan's relationship with his brother James has also been subject to scrutiny. The two brothers had differing visions for News Corp. and 21st Century Fox, leading to internal conflicts within the company.

Media Scandals : The phone-hacking scandal involving News of the World led to significant reputational damage for News Corp. Lachlan played a key role in trying to mitigate this damage and stabilize the company.

Fox News Controversies and Media Ownership

Lachlan's leadership at Fox News and his media ownership have been controversial.

Fox News Controversies : Under Lachlan's leadership, Fox News has been embroiled in several controversies, including allegations of spreading false narratives about the 2020 U.S. presidential election. This has led to multi-billion dollar lawsuits against the network.

Media Ownership : As the head of Fox Corporation, Lachlan oversees a vast media empire that includes broadcast networks, television stations, and print publications. This includes Fox Broadcasting Company , Fox Television Stations , Fox News , Fox Business , and Fox Sports .

Dow Jones & Company : News Corp. owns Dow Jones & Company, which publishes the prestigious financial newspaper The Wall Street Journal and the stock market index Dow Jones.

HarperCollins : News Corp. also owns HarperCollins, a major book publisher. This adds to the conglomerate's diverse portfolio of media assets.

Indian Premier League : Lachlan's investment firm has invested in the Indian Premier League cricket team, reflecting his broader interests in sports and entertainment.

Luxuries and Business Jet Usage

Lachlan's luxurious lifestyle and frequent travels highlight his status.

Yacht Ownership : Lachlan has been associated with owning a yacht, which he has used for leisure activities. However, there is no clear indication that he currently owns the yacht Sharlou , which was previously linked to him.

Business Jet Usage : The Gulfstream G550 private jet owned by News Corp. is used extensively by Lachlan for his frequent business travels. This jet is one of the most advanced business aircraft in the world, known for its ultra-long flight range and high speed.

Media Influence on Politics and Business Ethics

Lachlan's media influence and business ethics have been scrutinized.

Media Influence on Politics : Lachlan's role in shaping media narratives has been significant. His network has been accused of influencing political discourse, particularly through its coverage of the 2020 U.S. presidential election.

Philosophical Influences : Despite his career in media, Lachlan's academic background in philosophy continues to influence his worldview. His thesis on Kant's practical philosophy reflects an interest in morality and ethics that contrasts with his later career choices.

Business Ethics : The ethical implications of Lachlan's business decisions have been subject to scrutiny. His investment in One.Tel and other ventures has raised questions about his business acumen and ethical standards.

Media Regulation and Family Legacy

Lachlan's role in media regulation and his family's legacy are noteworthy.

Media Regulation : As the head of Fox Corporation, Lachlan has faced criticism over the network's handling of sensitive topics like election fraud and conspiracy theories. This has led to calls for greater media regulation to prevent the spread of misinformation.

Family Legacy : Lachlan is part of a media dynasty that has shaped global news and entertainment. His family's legacy extends back to his grandfather, Sir Keith Murdoch, who inherited a small Australian newspaper upon his death.

Media Conglomerate and Personal Image

Lachlan's media conglomerate and personal image reflect his influence.

Media Conglomerate : News Corp., under Lachlan's leadership, owns a diverse portfolio of media assets including newspapers, television networks, and book publishers. This conglomerate has significant influence over global media landscapes.

Personal Image : Lachlan is often described as having an adventurous spirit and boyish good-looks. He has been known to attend high-profile parties and events, reflecting his social status and influence within the media industry.

Biographical Insights : The first biography of Lachlan Murdoch, titled The Successor: The High-Stakes Life of Lachlan Murdoch , provides insights into his personal and professional life. However, it also raises important questions about his role in shaping media narratives and the ethical implications of his business decisions.

Lachlan Murdoch's Impact on Media

Lachlan Murdoch's journey in the media world is nothing short of fascinating. From his early days in Australia to leading Fox Corporation, he's played a pivotal role in shaping global media. His academic background in philosophy adds an intriguing layer to his business decisions, blending ethics with corporate strategy. Despite facing setbacks like the One.Tel investment and controversies surrounding Fox News, Lachlan has shown resilience and adaptability. His influence extends beyond media, touching sports and luxury lifestyles. As the eldest son of Rupert Murdoch, Lachlan carries the weight of a powerful legacy while carving out his own path. His story is a blend of ambition, controversy, and undeniable impact on the media landscape. Whether admired or criticized, Lachlan Murdoch remains a significant figure in modern media, continually shaping the narratives we consume.

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• The messy Murdoch succession drama, explained

It’s a case that could have big implications for the future of Fox News.

The Murdochs — the real-life media family that inspired HBO’s Succession — are currently navigating a court case that could rival any fictional drama.

The family, led by 93-year-old patriarch Rupert Murdoch, controls a vast, global news organization that includes the Wall Street Journal and the Times of London, as well as Fox News in the United States. When it comes to Fox News in particular, Rupert Murdoch has exercised a great level of editorial control , helping to shape the network’s coverage — and, as a result, conservative political narratives in the US .

Rupert Murdoch stepped back from running his empire in 2023 , and handed the role of chair of News Corp to his eldest son, Lachlan, who also stayed on as CEO of Fox Corp, and is seen as the Murdoch child most politically aligned with his father’s conservative viewpoints.

Upon Rupert Murdoch’s death, however, the voting shares he holds in the companies are set to be split evenly among the four children he had in his first marriage to Patricia Booker and second marriage to Anna Murdoch Mann — including Lachlan. In a new court case set to begin this week, Rupert Murdoch is now pushing to amend the previously established trust to give the bulk of this power to Lachlan .

At stake is the ideological future of Fox News and News Corp: Unlike Lachlan, the other three elder Murdoch siblings — James, Elisabeth, and Prudence — are viewed as more centrist, and could take the family’s media outlets in a more moderate direction. That concern is among those that spurred Rupert Murdoch to pursue this court action , and to shift more control to the child he sees as most likely to carry on his vision.

The outcome will be determined by Nevada probate commissioner Edmund Gorman in a closed Reno court. The trust, which was created in 1999 around Murdoch and Murdoch Mann’s divorce proceedings, was designed to be “irrevocable,” or quite difficult to change. In order to make the amendment, Rupert Murdoch will have to demonstrate that the alteration is to the benefit of all of his heirs.

Whether he succeeds could have a major impact, both on the future of the outlets in his media empire, and on the role they play in shaping US and global politics.

What this could all mean for the future of Fox News

Fox News, which Rupert Murdoch first founded in 1996, has become a mainstay for conservative cable news, and is known for elevating former President Donald Trump as well as misinformation about everything from election interference to climate change . In 2023, Fox paid Dominion Voting Systems $787 million after it was sued for amplifying lies suggesting that the company’s machines were rigged against a Trump win.

During that lawsuit, documents came out indicating that Rupert and Lachlan Murdoch knew Trump’s claims the election was stolen were lies , but chose to do nothing to discourage them . Instead, they decided to focus on deepening viewers’ trust of Fox News , seemingly by broadcasting what Trump’s supporters wanted to hear.

As of now, Rupert Murdoch holds a 40 percent voting share in both News Corp and Fox Corp, and under the existing trust, each of the four siblings would get an equal fraction of this when he passes away.

If Rupert Murdoch wins the Reno court case, and Lachlan gains the majority of these shares, the network could well continue, and even expand, its conservative approach. “It’s important to note that Lachlan’s politics are far more conservative than his father,” Hollywood Reporter special correspondent Lachlan Cartwright previously said on The New Abnormal podcast . In that scenario, his siblings would still receive financial inheritances, but they would have much less say in the media outlets’ future, much like Rupert’s two youngest daughters, Grace and Chloe, from his third marriage to Wendi Deng.

If the trust stays as is, however, there’s a possibility that James, Elisabeth, and Prudence work together to moderate the network’s tone.

James, in particular, has notably broken with his father publicly, including resigning from his position on the News Corp board in 2020. He and his wife Kathryn have also previously issued statements expressing disappointment in the climate change denial pushed by News Corp entities in Australia , and he’s condemned the media’s “lies” for contributing to the January 6 insurrection, though he stopped short of naming Fox News explicitly.

Rupert Murdoch has said that the possible changes in ideological direction — as well as potential disagreement among the siblings about next steps — could harm the company, and are some of the main reasons he’s trying to reopen the trust. According to the Wall Street Journal , those close to the Murdochs have also flagged concerns that James could urge a sale of Fox News. Allies to the other three siblings , meanwhile, argue that Fox Corp has suffered under Lachlan’s leadership, including setbacks like the Dominion case.

In the past, James, Elisabeth, and Prudence have also suggested proposals that would involve Rupert and Lachlan buying out the shares of the other family members, though those have fallen through.

All told, the messy court case is poised to have serious ramifications for the Murdoch family members — and for the broader state of media as well.

Correction, September 17, 5:20 pm: This story previously stated that all four Murdoch children involved in the voting share dispute were from Rupert Murdoch’s second marriage, and has been updated to reflect that they are from his first and second marriages.

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Lachlan murdoch drops $29.8 million on an australian boat shed.

Media heir Lachlan Murdoch just made a huge splash Down Under, buying a boat shed on the coast of Australia for about $29.8 million ($38 million in Australian dollars).

The mammoth sale was first reported by the Sydney Morning Herald and confirmed to The Times by a person close to the deal.

Murdoch — a son of billionaire Rupert Murdoch who serves as co-chairman of News Corp. and executive chairman of the Fox Corp. — is no stranger to huge real estate transactions. In 2019, he paid $150 million for the “Beverly Hillbillies” mansion in Bel-Air , which ranks as the second-priciest home sale in California history.

His new boat shed is much humbler than the Bel-Air mega-mansion. Clad in green shingles, the modest structure sits on 131 feet of waterfront in Point Piper, a small suburb of Sydney that regularly ranks as one of the country’s most expensive communities.

The reason for the eye-popping price tag? The depth of the bay, reported Forbes Global Properties when the shed first surfaced for sale earlier this year. Point Piper offers unusually deep water, which makes it much easier for the ultra-wealthy to moor their mega-yachts.

Murdoch’s place takes advantage of the setting with two boat docks and four moorings, as well as a swimming pool surrounded by flat, grassy lawns. The listing, which was held by Private Property Global’s Ken Jacobs, describes it as a “privately-owned marina facility attached to a residential property.”

A two-story structure sits at the center of the half-acre property. On the main level, a wood workshop with stained-glass windows offers space to store and work on boats. Above that, there's an apartment with white walls, hardwood floors and picture windows overlooking the bay.

Vaulted ceilings top an open-concept space with a living room, dining area and wood kitchen. Elsewhere are two bedrooms and a bathroom.

Murdoch and his wife, model and TV host Sarah Murdoch, sold their previous home in Point Piper for about $14.55 million USD in 2005, according to the Sydney Morning Herald . Four years ago, they shelled out $29 million for a modern lodge on 45 acres in Aspen, Colo.

Lachlan Murdoch is the third of Rupert Murdoch’s six children and the elder of two sons. In the process of Rupert handing off his vast media empire , Lachlan was named News Corp.’s co-chairman in 2014 and Fox Corp.’s chairman and CEO in 2019. Forbes puts the Murdoch family's net worth at $23.2 billion.

This story originally appeared in Los Angeles Times .

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Media heir Lachlan Murdoch has dropped a cool $30 million on a new 43-metre motor yacht that will soon be docked in Sydney Harbour

By Marta Jary For Daily Mail Australia

Published: 05:37 EDT, 2 April 2022 | Updated: 05:47 EDT, 2 April 2022

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Lachlan Murdoch has reportedly purchased a new yacht. 

According to Private Sydney , the media heir is the likely buyer of a 43-metre motor yacht called Istros, which cost him around $30 million. 

The boat will sit in Sydney Harbour, where it will be docked close to the Murdoch family's $100 million Bellevue Hill estate, called Le Manoir. 

Fancy: Lachlan Murdoch (pictured) has reportedly purchased a new yacht. According to Private Sydney, the media heir is the likely buyer of a 43-metre motor yacht called Istros, which cost him around $30 million

Daily Mail Australia has reached out to Lachlan Murdoch for comment.

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The new comes amid reports Lachlan and his wife Sarah, 49, along with their three children - sons Kalan Alexander, 17, Aidan Patrick, 15, and daughter Aerin Elisabeth, 11 - are in Australia to stay. 

In April, The Sydney Morning Herald reported that the Murdochs will be in Australia 'for years, not months, as initially believed'.

Roomy: The boat (pictured) will sit in Sydney Harbour, where it will be docked close to the Murdoch family's $100 million Bellevue Hill estate, called Le Manoir

The family, who are based in their Bellevue Hill compound, have settled in to life in Sydney after Sarah was seen at the Royal Easter Show in Olympic Park with their children.

The publication also confirmed that the Murdoch kids are enrolled in Sydney schools.

While no reason was given for the family's return to Australia, a report claimed that it was the political climate in the US that helped make the decision for the family to leave LA in favour of their Sydney home.

In town: The new comes amid reports Lachlan and his wife Sarah, 49, (right) along with their three children - sons Kalan Alexander, 17, Aidan Patrick, 15, and daughter Aerin Elisabeth, 11 - are in Australia to stay

A source said: 'The school communities here are very close knit, and it extends in to the wider families and the circles and parties they all go to. That Hollywood set is very pro-Democratic.

'They are mostly big fundraisers for Biden, so you can imagine how well it went down when one of their classmates' dads is at the helm of the biggest anti-Biden machine in the country.'

Despite having their life based in Los Angeles for years, where Lachlan is Executive Chairman and CEO of Fox Corporation, the couple has always maintained their Bellevue Hill abode. 

Locals: The publication also confirmed that the Murdoch kids are enrolled in Sydney schools

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