Billionaires

The people responsible for funding a sixth of the 2024 election could fit inside an Olive Garden restaurant.

Rupert Murdoch is locked in a secret legal battle against three of his children over the future of the family’s media empire, as he moves to preserve it as a conservative political force after his death, according to a sealed court document obtained by The New York Times.

Mr. Murdoch, 93, set the drama in motion late last year, when he made a surprise move to change the terms of the Murdochs’ irrevocable family trust to ensure that his eldest son and chosen successor, Lachlan, would remain in charge of his vast collection of television networks and newspapers.

Rupert Murdoch is engaged in a legal fight with some of his children, as he tries to hand control of his media empire to his eldest son, Lachlan, a battle with major ramifications for the future of the mogul’s two companies.

Murdoch, 93 years old, controls a trust that holds the family’s substantial stakes in News Corp NWSA 1.06%increase; green up pointing triangle, parent of The Wall Street Journal, and Fox News parent Fox Corp. Under its terms, when Murdoch dies, voting control would pass to four children—Lachlan, James, Elisabeth and Prudence.

Rupert Murdoch is involved in a legal battle with his children over his plans to hand over his global media empire to son Lachlan, according to a report. 

The fight for power between the 93-year-old mogul's four eldest children appeared to be decided when Lachlan emerged as the designated heir.  

But Murdoch is now fighting to extend his eldest son's voting power in the Murdoch Family Trust, the New York Times reported. 

The Bay Area has long been, and remains, a hippie-dippie bastion of Democrats who voted overwhelmingly for Hillary Clinton in 2016 and Joe Biden in 2020. But there’s a small, powerful sect of Silicon Valley billionaires who are carving a path for the maybe-Trumpers and the MAGA-curious in the tech world.

It’s difficult to concisely summarize the Supreme Court’s Thursday decision in Moore v. United States, which rejects a challenge to a one-time federal tax targeting some investors in foreign corporations. But the bottom line is that Moore is bad news for anyone hoping that the Supreme Court would launch a comprehensive attack on the federal government’s ability to raise taxes. 

Nevertheless, the decision is still excellent news for billionaires.

Near the edge of the Phoenix metro’s urban sprawl, surrounded by a wide expanse of saguaro-studded scrubland, Dream City Christian School is in the midst of a major expansion.

The U.S. Chamber of Commerce received an $800,000 wire transfer from billionaire donor Hank Meijer days after it endorsed his son, then-Rep. Peter Meijer (R-Mich.), in a contentious 2022 primary, according to previously unreported internal emails reviewed by The Hill. 

Within days of the transfer, the Chamber spent $381,000 on “Media Advertisement – Energy and Taxes – Mentioning Rep. Peter Meijer,” according to a report filed with the Federal Election Commission (FEC). 

The U.S. opposes a proposed global wealth tax on billionaires, Treasury Secretary Janet Yellen said, rejecting an idea floated by Brazil, France and other nations to tip the economic scales away from the megarich.

Meta CEO Mark Zuckerberg is officially wealthier than Elon Musk as Tesla’s rapidly dropping stock tanks Musk’s net worth.

Zuckerberg’s net worth has grown by more than $47 billion in 2024 to hit $175 billion as of Wednesday, according to Bloomberg’s Billionaire Index. Musk, on the other hand, has watched his value drop by more than $55 billion to a marginally less $174 billion. The gap between the two men will likely widen on Thursday, as Tesla stock hits a new 52-week low and Meta gains value.