When some of the mind games and manoeuvres that turned a Murdoch family “retreat” into an ordeal appeared in Succession, the TV drama about squabbling family members of a right-wing media company, members of the real-life family started to suspect each other of leaking details to the writers. The truth was more straightforward. Succession’s creator, Jesse Armstrong, said that his team hadn’t needed inside sources – they had simply read press reports.
Future screenwriters have been gifted a whole load of new Murdoch material in the past few days, after two astonishing stories in the New York Times and the Atlantic lifted the lid on the dysfunction, paranoia and despair at the heart of the most powerful family in global media.
The stories followed the end of the secret trial involving the fate of the Murdoch family trust. The mogul’s four eldest children – Lachlan, James, Elisabeth and Prudence – were set to inherit the family firm following Rupert’s death. But four years ago, just after turning 90, Rupert had tried to cut James, Liz and Prue out of their inheritance and hand the businesses over to Lachlan, his favoured heir who also happens to share his increasingly right-wing politics.
The lawsuit was brought by the three errant offspring, and in December a Nevada commissioner ruled in their favour, accusing Rupert and Lachlan of acting in “bad faith”. The trial took place in secret, but the fallout – thanks to the New York Times investigation and a 13,000-word Atlantic interview with James – has been anything but.
It says if he lives to be 99, in 2030 when the trust expires, he can then again cut the other kids out. May his health fail quickly for everyone’s sake
I don’t think that’s how it works, but I am not a lawyer.
Initially, I reached the same conclusion, but by the sounds of it, once the trust expires it simply means that the kids can now sell the stocks or do whatever they want freely. I think they don’t lose control of the stocks and if anything, they actually start to enjoy more control or at least freedom.
But again, I am not a lawyer.
I wish nothing but pain for this fuckhead. May he develop dementia and circle the drain for years, living in a puddle of his own mess, then die alone and sobbing the day before he would get the power to dissolve the trust.
A couple weeks or months would be better, that way they can’t pretend that he lived just long enough to sign it over.