Fox Corp’s former chairman Rupert Murdoch’s total compensation for 2023 climbed more than 24 per cent to US$22.9 million (RM107 million), a regulatory filing showed yesterday.
The media mogul stepped down from his role on Thursday after a career spanning more than seven decades and handed the reins to his son, Lachlan Murdoch, who will become the sole chairman of News Corp and continue as chair and CEO of Fox.
Rupert Murdoch will be chairman emeritus of both companies.
At Fox, his 2023 compensation includes an annual base salary of US$5 million and about US$7.6 million in stock awards and options. It also includes US$4.4 million in incentive pay, the filing showed.
Lachlan’s compensation at Fox stands at US$21.8 million for 2023, little changed from last year’s US$21.7 million.
He is set to take over the Murdoch media empire at a time when the industry faces challenges ranging from dwindling traditional television viewership to copyright theft allegations.
Separately yesterday, Fox nominated former Australian prime minister Tony Abbott AC and Magic Leap CEO Peggy Johnson to the company’s board. ― REUTERS
