A probate court in the American state of Nevada has begun hearing evidence for the family trust case that will determine the fate of the Murdoch empire. While understandably closed to the public, the proceedings come after The New York Times revealed in July this year that Rupert had moved to alter the terms of the Murdoch “irrevocable” trust.
According to documents obtained by The New York Times, Rupert Murdoch is seeking to ensure his legacy remains in place after his death by guaranteeing his eldest son Lachlan’s position – as head of the global media empire – remains uncontested.
While Lachlan was named as his father’s successor after the mogul stepped down as chair of Fox and News Corp in September 2023, the agreement remained equal among Rupert’s four oldest children.
Rupert’s move to challenge the terms might have come as a surprise to the siblings, but it’s likely not the case for their mother Anna, whose own concerns hinted at the Shakespearean power struggle decades before it came to be.
Which Of Murdoch’s Children Will Inherit His Company?
The existing trust was set up 25 years ago following Rupert’s divorce from his second wife, Anna Maria dePeyster (née Torv), as part of their settlement. The agreement gave their three children – Lachlan, older sister Elisabeth and younger brother James – as well as Rupert’s daughter from his first marriage, Prudence, equal voting rights and shares in the Murdoch empire.
The agreement also sought to prevent Rupert’s younger children, Grace and Chloe, whom he shares with ex-wife Wendi Deng, from gaining voting privileges that could impact this in the future.
As it stands, the trust currently holds eight votes – four controlled by Rupert – and another four shared equally between the siblings. Rupert’s death will trigger the release of his four votes to the siblings, making any decision process about the future of the family assets an equal playing field.
Did Anna Predict The Path To Succession?
Anna, a journalist and novelist in her own right, published her second book, aptly named Family Business in 1987, while the children were still teenagers. The storyline is centred around a newspaper-owning character named Yarrow McLean and her three children, whose sibling rivalry eventually leads to Yarrow’s decision to sell the paper, but not before the character shares a particularly poignant observation.
“I address my remarks to my own three children,” Yarrow McLean says. “I thought you would come to trust and respect each other. I thought that responsibility would teach each of you humility. I was wrong. It taught you greed and disloyalty and hatred.”
Though entirely fictional, it’s not hard to draw parallels between the novel’s striking commentary around power and money and the current day situation.
Over a decade later, after the dust had settled following her divorce from Rupert, she agreed to an astonishing interview with David Leser for The Australian Women’s Weekly. After being asked which of her children might be best suited to take over from their father when the time came, Anna responded: “Actually I’d like none of them to,” she says. “I think they’re all so good that they could do whatever they wanted really. But I think there’s going to be a lot of heartbreak and hardship with this [succession].”
Insisting on the trust was part of Anna’s attempt to safeguard the future of her children, shielding them from the dynastic expectations and external pressures that could lead to the family unit’s demise. Could all of it have been for nothing?
What Is The Murdoch Family Trust Case About?
Over the next week, Rupert will attempt to convince the probate commissioner that his move to amend the trust is acting in good faith for the sole benefit of his heirs, according to The New York Times. A strategic decision outlined in the court documents obtained by the publication that would mitigate a potential lack of consensus among his children and maintain the editorial direction of the conservative media empire.
Basically, Rupert will be attempting to sign over sole control of the trust to Lachlan, in the hopes that assets including Fox News, The Wall Street Journal, The Australian and The Times, aren’t compromised by any future disagreements that could erupt between the siblings. The argument will lean into the idea that conservatism – upheld by Lachlan at the helm – is good for business.
While a decision is expected to be handed down at the end of the two week process, the court documents are confidential, and the hearings will remain closed to media, meaning it’s unlikely the outcome will be made public any time soon.
This article originally appeared on Marie Claire Australia and is republished here with permission.
