Rupert Murdoch poses for a photo in New York in 2004.
Ben Baker/Redux

In pictures: Media mogul Rupert Murdoch

Updated 1327 GMT (2127 HKT) September 21, 2023

Rupert Murdoch poses for a photo in New York in 2004.
Ben Baker/Redux

Rupert Murdoch announced Thursday that he will step down as chairman of Fox Corporation and Fox News.

Murdoch's business began in the 1950s with one local newspaper in Australia. It's now a massive multimedia empire that spans the globe and includes TV, online, film and print interests.

Murdoch, 92, owns hundreds of publishing outlets across the world and is one of the richest and most powerful people in the world.

His hunger for the latest scoops — and his willingness to pay for them — have ensured massive sales figures. But they have also caused controversy over the years, including the UK phone scandal of 2011.

"Murdoch is the most ruthless businessman in world history," said Roger Stone, political strategist and ally of former President Donald Trump.

Murdoch has been married four times, and he has fathered six children. His penchant for pitting his children against each other to see who will succeed him as head of News Corp. is widely believed to be the inspiration for the popular HBO series "Succession."

"I just want them to be happy. I hope to be able to leave them a great opportunity like my father left me," Murdoch said.