Rupert Murdoch reaps $34 million in compensation
Media mogul Rupert Murdoch might be getting out of the office more, but he continues to pull down handsome compensation.
The 85-year-old executive chairman of 21st Century Fox collected $34.6 million in executive compensation in fiscal 2016, which represents a 24% raise from the prior year, according to a regulatory filing on Friday.
The increase was largely due to an accounting measure. The company founder’s base salary of $7.1 million and his cash bonus of nearly $9.8 million remained the same as fiscal 2015, but his total compensation soared because of a change in how the value of his pension was calculated.
His pension value rose $11.1 million in fiscal 2016, compared with a $5.7 million increase in the previous year.
Murdoch, in July 2015, turned over day-to-day operations of his TV and film company to his two sons, but he remains heavily involved. In March, he married former model Jerry Hall, and the pair have been out and about. His compensation included $106,240 to account for his personal use of the corporate jet (a 64% increase over the previous year).
Fox’s fiscal year ends June 30.
In July, the elder Murdoch became the acting chief executive of Fox News after a sexual harassment scandal prompted the resignation of the division’s former chairman, Roger Ailes.
James Murdoch, 43, the company’s chief executive, raked in the second-highest compensation at Fox — $26.4 million. That came from a $3 million base salary, stock awards of $10.1 million, a $7.4 million cash bonus and an increase in the pension value of $5.6 million.
Lachlan Murdoch, who also serves as executive chairman, received compensation of $23.7 million. That included a $3 million base salary, stock awards of $10.1 million and a $7.4 million cash bonus. His pension value increased $3 million.
Lachlan Murdoch is based in Los Angeles.
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