Even though 84-year-old Rupert Murdoch has been hit with a 41% cut to his pay packet at News Corp for the year to June, he will still be one of the most highly paid US CEOs/chairs -- ditto in Australia. Thanks to a loss in the year to June and a 19% drop in the share price, Rupert Murdoch ended up “poorer” this year — at News Corp that is. But he was still paid US$5.1 million (more than A$7.2 million) for overseeing a weak year for one of the family’s two listed companies (the other is 21st Century Fox).
In the SEC filing, News revealed that Murdoch earned US$1 million in salary for the company’s 2014-15 year, and another US$4.1 million in stock awards and bonuses. In 2013-14, Murdoch earned US$8.7 million from News Corp, the home of his newspaper and publishing assets, so his pay packet last financial year was 41% lower. News Corp shares fell 19% in 2014-15, and are down another 6.5% since then to the close this morning. The shares were down 3.7% in Wall Street’s big sell-off this morning.