Rupert Murdoch and son Lachlan received $22.9 million and $21.7 million in compensation packages from Fox Corp. in the fiscal year that ended June 30, 2023, the parent company of Fox News has revealed.
It will be the final full year in which Rupert Murdoch led the company as chairman, as he will step down and become chairman emeritus in November.
Rupert Murdoch, Fox’s chairman, received a compensation package worth $22.9 million in the latest fiscal year, compared with $18.4 million in the year before and $31.1 million two years ago.
Lachlan Murdoch, Fox’s executive chairman and CEO, received a pay package totaling $21.7 million, flat from a year earlier and down from $27.7 million in the year before that.
Fox also said that two of its board members, Anne Dias and Jacques Nasser, will also leave the board in November, and is nominating former Australian Prime Minister Tony Abbott and Magic Leap CEO Peggy Johnson to replace them.
Fox provided the compensation details for the Murdochs and other top executives, including chief operating officer John Nallen and CFO Steve Tomsic, in a regulatory filing. The company’s assets include Fox News, Fox Sports, the Fox broadcast network, TV stations and streaming service Tubi.
Rupert Murdoch also serves as chairman of News Corp., which owns The Wall Street Journal and a majority stake in Australian pay TV giant Foxtel, among others.
