Murdoch ‘bad faith’ in Lachlan control bid
December 10, 2024
Rupert Murdoch’s attempt to change his own family trust to leave his eldest son Lachlan in control of News Corp has been blocked by a Nevada court.
A Nevada court commissioner found Rupert and Lachlan Murdoch had acted in “bad faith” by trying to change the trust to leave Lachlan in control rather than his siblings. Rupert Murdoch wanted to ensure the child that most shares his right wing philosophy had control without push back from his siblings James and Elizabeth.
The decision is a victory for three Murdoch children — James, Elisabeth and Prudence (his eldest daughter who has never been involved in the family firm) — who were at risk of losing control of the multibillion-dollar business after the death of their father. The three said in a statement that they welcomed the decision “and hope that we can move beyond this litigation to focus on strengthening and rebuilding relationships among all family members”.
Rupert Murdoch plans to appeal against the decision reports NYT. Murdoch, 93, had wanted to amend his own irrevocable family trust to give his eldest son full control of voting powers and decision-making after his death. Grace and Chloe, his children with his third wife, Wendi Deng, have an economic interest but no voting control.
The Murdoch family in September gathered in a Reno courthouse to argue their cases to the county probate commissioner. The case has taken place in secrecy, with courtroom proceedings and documents sealed off to the public.