Rupert Murdoch's bid to revise family trust rejected
Rupert Murdoch unable to amend family trust to secure media empire for chosen successor
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LIFESTYLE Family
Throughout history, when a family gains wealth, territory, and influence, they try to keep it. Families who successfully created dynasties have lasted for centuries and even shaped the biggest events in world history. And these influential families called the shots in several areas. They are old money dynasties, entertainment dynasties, and political dynasties, many of whom still hold a surprising amount of power.
Rupert Murdoch's family saga has drawn global attention, even inspiring the award-winning series 'Succession.' Now in a significant legal ruling, a Nevada commissioner has decided that Rupert Murdoch cannot amend his family trust to transfer control of his media empire to his chosen successor. After hearing several days of confidential testimony from Murdoch family members earlier this year, the probate commissioner issued a ruling over the weekend. The 96-page opinion sharply criticized Rupert Murdoch and his chosen successor, Lachlan Murdoch, according to a source with direct knowledge of the decision.
Rupert Murdoch sought to amend his irrevocable family trust, which grants equal voting shares to his four eldest children after his death, to give sole control to Lachlan, who shares his conservative views.
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