Rupert Murdoch's Net Worth Loses $182 Million After Tucker Carlson News
Rupert Murdoch, the founder and executive chairman of the Fox Corporation, saw his personal fortune tumble by over $180 million at one point on Monday following the abrupt departure of Fox News host Tucker Carlson.
Carlson, host of Tucker Carlson Tonight since 2016 and one of the biggest ratings draws for Fox News, parted ways with the conservative network on Monday morning. Reporting since the earth-shaking announcement suggested that Murdoch himself had pushed for Carlson's dismissal.
"Fox News Media and Tucker Carlson have agreed to part ways," the network said in a statement. "We thank him for his service to the network as a host and prior to that as a contributor."
In the wake of the news that one of the company's biggest names was out, the stock price for the Fox Corporation went into freefall, at one point dipping by nearly 4 percent to a value of $29.31 a share, down from its value of nearly $31 at the start of trading. As of Monday evening, the stock price has ticked up somewhat to a value of just under $30, but still has yet to completely recover.
Murdoch, along with members of his family, maintains power over the Fox Corporation with a controlling share of 39.6 percent. As such, Monday's stock tumble wiped out a considerable amount of his personal fortune, with Forbes estimating the loss to have been around $182 million at the stock's lowest point. The company overall lost an estimated $700 million in market value.
While considerable, the drop is likely to be little more than a minor leak for Murdoch. According to Forbes' statistics, the Australian-American news mogul retains a net worth of roughly $17.4 billion and ranks as the 97th richest person in the world.
A full-time replacement for Carlson in the coveted 8 p.m. ET weeknight timeslot has not yet been chosen. Until one is decided upon, the network plans to feature a rotating cast of guest hosts from its roster of talent. For Monday evening, Brian Kilmeade, known to have frequently subbed in for Carlson during his time with the network, is set to take over the reins.
The precise reasons for Carlson's departure have yet to be revealed, although it came not long after the Fox Corporation settled a lawsuit with Dominion Voting Systems for $787.5 million, one of the largest such settlements in U.S. history. Dominion, who sued for $1.6 billion, had accused Fox News of damaging its reputation by spreading falsehoods about the results of the 2020 presidential election and the role of its voting machines in it, which Carlson was at the forefront of as the network's biggest name. Carlson was also going to be a major witness called to testify about Fox News's falsehoods when the case was set for trial.
Newsweek reached out to Fox News's public relations team via email for comment.
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