Murdochs settled succession: Lachlan took the empire, siblings got $1.1B each

In September 2023, Rupert Murdoch, then 92, stepped down as chairman of Fox Corporation and News Corp after a career that began in 1954. His eldest son Lachlan became sole chair of News Corp while continuing as executive chair and CEO of Fox Corp — the first clear answer to who would run the empire.

The announcement settled the titles but not the power. A family trust held the controlling voting shares, and on Rupert's death voting rights were to pass equally to his four eldest children — Lachlan, James, Elisabeth, and Prudence — setting up a potential 3-against-1 fight over the direction of Fox News and the Wall Street Journal.

Rupert moved to amend the trust to cement Lachlan's control; the three siblings fought it in a Nevada court in 2024, and a commissioner ruled against the change. Rather than risk years of appeals and a post-death power struggle, the family negotiated.

In September 2025 they settled: James, Elisabeth, and Prudence agreed to sell their holdings in Fox and News Corp within six months and each receive about $1.1 billion, while new trusts cement Lachlan's control of the group. The deal ended all litigation and the succession question for good.

Succession resolved with Lachlan in sole control of Fox Corp and News Corp; three siblings exited with about $1.1B each, ending litigation over the family trust.

The 2023 handover gave Lachlan operational control first, so the later fight was over votes, not management.

An equal four-way voting trust made post-death deadlock likely, forcing the issue to be settled while Rupert was alive.

Losing the Nevada court round pushed the family from legal manoeuvre to negotiated buyout.

Cash — roughly $3.3 billion total — proved cheaper than a fractured empire with contested leadership.

Equal-inheritance trusts feel fair but invite deadlock; buying out dissenting heirs early costs billions yet preserves a single, decidable line of control.

Lachlan Murdoch, in his mid-50s, now controls Fox News, the Wall Street Journal, the New York Post, HarperCollins, and the family's Australian and UK titles with no rival claimant. The three departing siblings cut their formal ties to the business, and the companies' editorial direction is expected to remain unchanged under Lachlan's long-established stewardship.