With a net worth of $17 billion, Rupert Murdoch is undeniably one of the wealthiest individuals globally. Yet, this number only scratches the surface of his incredible influence. Today, Murdoch stepped down from his positions on the boards of Fox Corp. and News Corp., marking the end of an era. Throughout his career, Murdoch has utilized his media empire to exert a significant impact on right-wing politics in the Western world, surpassing nearly all others in his field.
One of Murdoch’s most effective strategies has been his vehement critique of liberal “elites,” asserting that his media properties, including the widely-watched Fox News channel in the US, are the sole purveyors of truth in a sea of left-leaning news outlets. By perpetuating this narrative, Murdoch has successfully positioned himself and his media empire as the voice of right-wing ideologies.
Murdoch’s departure comes at a challenging time for Fox News. In April, the network paid a staggering $787.5 million to settle defamation charges stemming from the promotion of baseless conspiracy theories surrounding Dominion Voting Systems. These conspiracy theories claimed that the company’s voting machines were manipulated in favor of Joe Biden in the 2020 US presidential election. Fox News now faces a $2.7 billion lawsuit from the voting machine company Smartmatic, alleging similar wrongdoing. Additionally, the network has experienced a decline in ratings since the departure of its top host, Tucker Carlson, and has settled charges of workplace abuse with a former Carlson producer for $12 million.
As Murdoch passes the torch to his son Lachlan, it is worth noting that, unlike some of his siblings, Lachlan shares his father’s right-wing inclinations. Rupert Murdoch ensured that his exit made an impact by reaffirming his anti-liberal and anti-elite sentiments, which have been instrumental in building his media empire.
To provide further context, we have annotated Murdoch’s retirement memo. It is evident that Murdoch’s passion for news and ideas remains unrelenting, even as he transitions to the role of Chairman Emeritus. He expresses his pride in the collective achievements of his colleagues, recognizing the often-unseen contributions that have propelled their success. Murdoch highlights Lachlan’s unwavering commitment to the cause, emphasizing the ongoing battle for freedom of speech and thought, which he believes has reached unprecedented levels of intensity.
At 92 years old, Murdoch reveals his intent to remain actively involved in both running his companies and promoting his philosophical mission of safeguarding freedom of speech and thought. He addresses critics who seek to silence opposing viewpoints, accusing the media of peddling political narratives instead of pursuing truth. Murdoch perceives his work as a mission, battling against elites and amplifying voices that challenge the status quo. However, it is notable that Murdoch himself epitomizes the very elites he condemns.
In his new role, Murdoch assures his colleagues of his continued engagement in the contest of ideas. He views his companies as communities and pledges to be an active member, analyzing their broadcasts, reading their publications, and offering thoughts, ideas, and advice. He further promises his physical presence in the office during visits to countries and companies.
In conclusion, Rupert Murdoch may be stepping back, but he is far from finished. As his son takes the reins, he will closely monitor the companies he built. Murdoch encourages his colleagues to seize this opportunity to contribute to a better world. His retirement marks the end of an era, but his legacy and influence continue to shape the media landscape.
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