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The Australian businessman and investor Keith Rupert Murdoch announced at 92 that he will step down as CEO of News Corp. and Fox after seven decades in which he became one of the media entrepreneurs and most influential shareholder in the world.
Now Keith Rupert, the naturalized American tycoon, will assume the position of president emeritus, giving way to his oldest son, 52 years old. Lachlan Murdoch as the new and only president of News Corp. who also has a long career in the media, previously being editor of the New York Post and supervisor of the book publisher HarperCollins.
In the last half century, Rupert has managed to become one of the most prominent executives in addition to being widely recognized for defending his conservative ideas, managed to face arduous million-dollar challenges, defamation lawsuitsamong others.
According to the Bloomberg Billionaires Index, Rupert Murdoch at 92 years old has the title of one of the richest media entrepreneurs in the worldit is estimated that his assets reach $8.3 billion.
Through a statement Lachlan Murdoch highlighted that his father “would continue to provide valuable advice to both companies. “We thank him for his vision, his pioneering spirit, his steadfast determination and the lasting legacy he leaves to the companies he founded and the countless people he has impacted,” he said.
For his part, the magnate expressed with respect to his son that he is “absolutely committed to the cause of freedomhas a vision that points against elites who have open contempt for those who are not members of their rarefied class,” he highlighted.
In addition, he assured that he will continue to offer advice in his new position as president emeritus, “we have every reason to be optimistic about the coming years; I certainly am and I plan to be here to participate in them. I will watch our broadcasts with a critical eye, I will read our newspapers, websites and books with great interest, and I will provide you with thoughts, ideas and advice,” he said.
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