Media mogul Rupert Murdoch’s bid to strip his children of their voting powers in his global media empire was dealt a significant blow when a Nevada probate court rejected the attempt last December. The court ruling effectively killed Lachlan Murdoch’s plan to give himself total control over the family trust.
The court documents reveal the emotional toll the fight took on the Murdochs, particularly Rupert and his eldest son Lachlan. The 93-year-old media kingpin’s actions were deemed “bad faith” by a Washoe County Probate Commissioner, who rejected their bid to amend the trust.
Lachlan had been trying to buy out his siblings from the trust for years, but they repeatedly refused. He eventually turned to buying James out himself, with Rupert even attempting to woo him back into the fold on James’ birthday. However, Prudence and Elisabeth stood firm in their opposition, with Prudence describing Lachlan’s actions as a “carefully crafted charade.”
The court documents also show that Rupert and Lachlan made several attempts to entice their siblings into accepting the new terms of the trust. However, Prudence and Elisabeth were resolute in their refusal.
In the end, the Murdochs’ efforts were thwarted by their own family dynamics. The court’s ruling has left the media mogul’s children with a sense of unease, particularly regarding the future of the family business.
The case highlights the challenges that come with attempting to alter a centuries-old trust, particularly when it involves multiple parties with competing interests. As one family member noted, “All for one and one for all” – in this case, the Murdochs’ children have learned to prioritize their unity over their father’s wishes.
Source: https://www.thedailybeast.com/rupert-murdochs-battle-against-his-children-laid-bare-in-bombshell-report