What the Disney-Fox deal means for Rupert Murdoch's fortune: by MadelinePBerg
Rupert Murdoch's former 21st Century Fox assets have now been split into stakes in Disney and in Fox Corporation.At precisely 12:02 A.M. on Wednesday morning, the $71.3 billion mega-merger between Disney and 21st Century Fox—a deal over a year in the making—finally became official.
But what does it all mean for Rupert Murdoch, the billionaire media mogul who founded 21st Century Fox and ran it for 39 years? Murdoch, who is co-chairman of the new Fox Corp., had an estimated fortune of about $18.4 billion as of noon Wednesday, just about 12 hours after the deal was official. That’s about $4.3 billion more than he was worth on December 13, 2017, the day before Fox and Disney first announced the deal..
Until early Wednesday morning, the biggest chunk of Murdoch’s fortune was his stake in 21st Century Fox. His 17% stake in the company was worth about $13.3 billion at its peak earlier this month. Now that holding has been split into shares of Disney and Fox Corp. On Tuesday, he got one third of a share of Fox Corp. for each share of 21st Century Fox he owned. In addition, Murdoch had the option of swapping his 21st Century Fox shares into either a portion of a Disney share or $51.
Assuming he took all stock from the Disney deal, Murdoch now owns $10.5 billion worth of Disney stock. His 39% stake of the new Fox Corporation is worth $4.2 billion. and the rest of his next worth is made up of his shares in News Corp., which owns the
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