Fox Corp. CEO Lachlan Murdoch saw his fiscal 2025 compensation soar, with the company disclosing the pay bump just weeks after the executive settled a high-profile legal battle with his siblings over who will control the family’s media empire.
According to Fox’s proxy filing, released Thursday, Murdoch took home a compensation package valued at $33 million in the company’s fiscal 2025, which ended June 30. That is up from $23.8 million a year ago, and from $21.8 million in fiscal 2023.
The pay package includes a $3 million salary, $10.6 million in stock awards, $2.75 million in option awards, $10.7 million in non-equity incentive plan compensation, as well as $4 million connected to a change in the value of retirement benefits, and $2 million in other compensation, mostly tied to a residential security plan.
The company’s compensation committee cited strong financial performance, including at Fox News, Fox Sports and Tubi, in explaining the bump.
John Nallen, Fox’s president and COO, saw his pay rise to $15.3 million in fiscal 2025, while CFO Steve Tomsic saw his pay rise to $10.3 million.
Earlier this month, of course, Murdoch settled the long-simmering legal battle between himself and his father Rupert Murdoch, with his siblings Elisabeth Murdoch, Prudence MacCleod and James Murdoch, over who will control the family trust, which in turn controls both Fox Corp. and News Corp.
Control of the trust would have been split between the four siblings if Rupert died, or when it dissolved in 2030, whichever same first. However Lachlan and Rupert maneuvered to have him control the trust, sparking the legal battle. The three siblings received payments worth about $1.1 billion each to give up their shares in the company, effectively allowing Lachlan to consolidate control.