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Murdoch Stanches Wealth Loss With $640 Million Day


Rupert Murdoch is clawing his way back to the break-even point on his personal fortune this year. The chairman of Twenty-First Century Fox (FOX) and News Corp. (NWS) added more wealth than anyone else on the Bloomberg Billionaires Index yesterday, $640 million, to cut his losses in 2014 to $440 million. Murdoch is worth $12.6 billion.

Murdoch was helped by better-than-expected third-quarter earnings at Fox, whose TV division reported strong advertising results from broadcasting NFL playoff games and the Super Bowl. Also yesterday, News Corp., the publishing company separated from the media and entertainment units at Fox last summer, reported slightly more revenue than forecast, at $2.08 billion.

Summers_190
Nick Summers covers Wall Street and finance for Bloomberg Businessweek. Twitter: @nicksummers.

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