NewsCorp Rewards Key Executive With $17m Pay Packet.

30 May 2005

Seventeen million dollars is a somewhat generous annual pay packet - even for an executive seen as central to his company's success.

But Rupert Murdoch, chairman and controlling shareholder of global media conglomerate News Corporation, is not parsimonious when it comes to rewarding a high achiever.

Which explains why the pay cheque in question was made out to 'K R Murdoch'. In addition to his annual pittance of $4.5 million (€3.6m; £2.47m), a grateful NewsCorp, buttered the chairman's toast with a bonus of $12.5m. - up from $7.5m in 2003

And who would dispute that such a high achiever should not take his chances alongside his fellow American citizens when travelling by air to inspect the outposts of his media empire?

So there'll be no complaints arising from a filing with the Securities and Exchange Commission that lists a further payment of $211,322 to the chairman. This was to cover the cost of transporting him around the globe on a private jet, an expense justified by "security reasons".

The SEC listing also reveals that the needy billionaire deprived his fellow stockholders of $600,000 over the past three years to pay for his Los Angeles pied a terre.

Data sourced from; additional content by WARC staff