News Corp finally released its 2021-22 annual general meeting (AGM) proxy statement to the ASX at 8.17am today, revealing that it will be holding a fully virtual AGM on November 15 at 10am New York time. This would be illegal in Australia now that we’re through pandemic restrictions and companies are required to offer a physical component to their annual gatherings with shareholders.
While most transparent ASX-listed companies now release their remuneration details in August, along with the full year results, News Corp still waits for as long as possible to reveal who was paid what via its proxy statement.
Rupert Murdoch, 91, is not becoming any less money-focused as he ages. He pocketed US$6.47 million (A$9.94 million) as News Corp’s “executive chairman” in 2021-22, despite not attending any of the four earnings calls with analysts held during the year.
The world’s longest-serving public company director continues to be paid as “executive chairman” of the completely unrelated company Fox Corp, where he received $US15.4 million (A$23.66 million) in 2021-22.
All up, Murdoch men have now been paid more than $1.5 billion by public companies they control since 2000, although at least the total figure of $US46 million in 2021-22 was a 10-year low and well below the $US65.84 million they pocketed in 2020-21.
If only the Murdochs were like the Packer family and agreed to work for free as public company directors, instead limiting themselves to enjoying the benefits of dividends and share price appreciation delivered by their excellent management.
It won’t stop him getting older and sicker and dying though.
Unfortunately his wealth may delay his inevitable just deserts long enough to allow him to cause even more harm.
… And how is the “trickling down” of his economics helping the lower classes?
Golden Showers on all – as Zappa sang, “Don’t eat the yellow snow where the huskies go”.
It was beautiful BS and we dined on it
Dragging english speaking nations down is a demanding and time consuming full time occupation.
Have a heart !
Sad he couldn’t have been useful with his money poor bugger
oh well dust to dust
In the case of the Dirty digger’s “newspapers” it was more ‘smut to muck’.
Wow. And by the time Rupert gets to 101 that’ll be another $750million the will have earned.
And yet one of the favourite sports of his tabloids is to fan outrage at the incomes of people he doesn’t like (government officials, ABC staff, etc).