Lachlan Murdoch's Pay Skyrocketed to $33 Million as He Takes Over His Family Media Empire
In a recent move, CEO Lachlan Murdoch of Fox Corp (https://www.hollywoodreporter.com/t/fox-corp-2/) has seen his fiscal 2025 compensation surge to $33 million, just weeks after resolving a high-profile legal battle with his siblings over who will control the family’s media empire. The company’s proxy filing, released Thursday, reveals that Murdoch earned a $33 million package, up from $23.8 million last year and $21.8 million in fiscal 2023. This compensation includes a $3 million base salary, $10.6 million in stock awards, $2.75 million in option awards, $10.7 million in non-equity incentive compensation, and $4 million tied to retirement benefits, plus $2 million in other perks, most notably a residential security plan.
The compensation committee cited strong financial results from Fox News, Fox Sports, and Tubi as the reason for the raise. Meanwhile, Fox President John Nallen’s pay rose to $15.3 million, and CFO Steve Tomsic earned $10.3 million. Earlier this month, Murdoch settled a long-simmering legal dispute (https://www.hollywoodreporter.com/business/business-news/lachlan-murdoch-succession-major-buyouts-fox-news-corp-1236365350/) with his father Rupert Murdoch, his siblings Elisabeth Murdoch, Prudence MacCleod, and James Murdoch over control of the family trust, which owns Fox Corp and News Corp. If Rupert had passed away or the trust dissolved in 2030, the four siblings would have split control. However, Lachlan and Rupert orchestrated a strategy to secure his own share, sparking the legal battle. The siblings received $1.1 billion each to relinquish their shares, effectively allowing Lachlan to consolidate power.
With the company’s future now firmly in Lachlan’s hands, experts expect him to push forward with an expansion plan—possibly through mergers or internal development—as Fox reimagines itself for the digital age. This could include a stake in TikTok, with ByteDance’s pending sale to a U.S. shareholder consortium potentially involving Fox (https://www.hollywoodreporter.com/business/digital/murdochs-fox-new-tiktok-ownership-group-trump-1236376954/). The controversy here lies in how the trust’s control is distributed, with some arguing that Murdoch’s dominance undermines family governance, while others see it as a strategic move to ensure long-term stability. Who truly controls the future of Fox? Let the debate continue—after all, this is where the real story begins.
