Rupert Murdoch’s pay drops to $28.9 million in 2013
21st Century Fox Chief Executive Rupert Murdoch’s overall compensation declined slightly in fiscal 2013, to $28.9 million.
During the previous year, Murdoch had a $30-million compensation package. That was nearly 10% lower than his fiscal 2011 earnings of $33.3 million.
Despite the dip, Murdoch’s annual base salary remains the highest in the industry, at $8.1 million. During the past year, Murdoch’s bonus was divvied up into two categories: stock awards, which were valued at $5.1 million, and a performance-based cash bonus of $12.5 million.
Murdoch’s 2013 compensation was almost the same amount he paid to acquire a 16-acre trophy property in Los Angeles, the Moraga Vineyards estate.
The 82-year-old media baron’s $28.8-million purchase of the winery in the hills above Bel-Air, visible from the 405 Freeway, was finalized earlier this week.
The media company released its proxy Friday morning.
Murdoch’s second-in-command, Chief Operating Officer Chase Carey, saw his overall compensation swell to $27 million for fiscal 2013. That represented a 9% boost over the previous year.
In fiscal 2012, Carey garnered a package valued at $24.8 million. Carey’s annual base pay is $4 million.
Fox’s compensation committee lauded Carey for his “exceptional management” leading up to the June 28 breakup of the media company and the spin-off of the publishing properties.
Murdoch’s youngest son, James Murdoch, who is the media company’s third-ranking officer, collected a package valued at $17 million. That was up slightly from his fiscal 2012 compensation of $16.8 million.
21st Century Fox’s fiscal year runs from July 1 through June 30.
The company’s stock was up 46% during the last fiscal year.
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