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Murdoch’s Money Misfortune

Posted on Aug 21, 2009

Rupert Murdoch will have to squeak by on a compensation package of $18 million this year.

You know times are tough when even multimillionaire moguls are seeing their hard-earned compensation cut almost by half. Rupert Murdoch, the jowly head of News Corp., has taken a compensation cut of 40 percent because of weak earnings by his eccentric media empire.

Los Angeles Times:

Rupert Murdoch, the chairman, chief executive and controlling shareholder of News Corp., saw his compensation drop 40% in fiscal 2009 as weak earnings reduced his incentive pay, according to a review of regulatory filings.

Murdoch, 78, was awarded a compensation package valued at $18 million, down from $30 million a year ago, according to the review of News Corp.‘s proxy filed Thursday with the Securities and Exchange Commission.

His base salary of $8.1 million was unchanged, but his performance-based incentive pay fell 69% to $5.4 million from $17.5 million a year ago.

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By Scott, August 23, 2009 at 4:59 am Link to this comment
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I bet one of the biggest names on the Swiss Banking cheaters list, has RM for initials

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By Jim Yell, August 22, 2009 at 7:28 am Link to this comment
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If there is any justice he will lose all his ill gotten money. A worthless person if there is such.

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By coloradokarl, August 21, 2009 at 6:45 pm Link to this comment

490 years of full time work gets me $18 million…...

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By purplewolf, August 21, 2009 at 4:16 pm Link to this comment

Do you think he will have to apply for corporate welfare? Are his losses large enough to qualify or will he have to sell off several dozen of his Mercedes and live off the money from them for awhile until he has spend down his monies enough to qualify?

I don’t feel sorry for that greedy cretin, he still has more than enough money to run a small economy on.

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By NYCartist, August 21, 2009 at 2:21 pm Link to this comment

Boo Hoo.  I hope he’s sued big time and fined bigtime
and maybe do time, for his paper’s spying on people in UK. (Covered by the Guardian online. )

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By ChaoticGood, August 21, 2009 at 2:02 pm Link to this comment

Oh no!!
What have we come to, I just can’t believe that I have lost another of my heros to the bad economy. My first hero Big Bernie M. is in prison instead of doing his fine and productive work of bilking the rich. 

Now my next most favorite icon is hurting and may have to put off that new yacht and the summer house in Greece.

I have sacrificed my job, and my home and lost my health insurance due to this bad economy, which that evil Dr. Obama somehow caused and now the ultimate bad news has hit. This would have never happened if the wise McCain and that intrepid world traveler Palin had been in charge.

Oh poor Murdoch, my diseased heart aches for his pain.  If I could I would offer what little I have left in this world to start a fund for displaced billionaires or I could contribute to the Republican Party who will gladly distribute my meager possessions to those who need them the least.

I realize that they are my “betters” and that only due to their magnificent generosity I was able to manage to live as long as I have.  I stand in shock and awe at their wonderfullness….

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By NC-Tom, August 21, 2009 at 11:31 am Link to this comment

I wonder how Satan pays him, check or direct deposit?

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By Gmonst, August 21, 2009 at 11:29 am Link to this comment

Gee it must be tough for him, how can one be expected to live with only $18 million spending money for the year?

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