Murdoch- Wendi Deng Divorce Focuses Spotlight On Family’s Corporate Holdings

Related: Rupert Murdoch Files For Divorce Which Won’t Affect News Corp Split

Deadline broke the news yesterday about the Rupert Murdoch-Wendi Deng divorce over “irreconcilable differences”. Now that the media are finishing their feeding frenzy on the split, details are emerging about the corporate holdings held by Murdoch’s families  — both his older one and his younger one. News Corp has a market value of about $73B, and family members primarily own stakes via three trusts. The largest and most important is the Murdoch Family Trust, which controls about 38.4% of its voting shares. Financial benefits go to all of Rupert Murdoch’s six children from three marriages. But the trust is controlled by the CEO, who has four votes, and his four oldest children who have one vote apiece: Prudence, a daughter from first wife Patricia Booker; and Elisabeth, James, and Lachlan, his three children with Anna Torv. The four older siblings also will decide who’ll control Rupert’s votes after he dies. Wendi Deng wanted the two daughters she had with Murdoch — Grace, 11, and Chloe, 9 — to also have a vote in the Family Trust, but he declined to force the issue over the objections of his other children. Still, Grace and Chloe own stakes in News Corp via the GCM Trust, which is administered by independent trustees. It includes an undisclosed amount of Class B stock, which carries voting rights, and 8.73M non-voting Class A shares that are worth about $276M at the company’s current trading price. (more…)

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