Murdochs Take Pandemic Pay Cut to $31M and $27M - NewsBreak

Fox Corp. CEO Lachlan Murdoch and his father, chairman Rupert Murdoch, each saw their compensation packages fall in 2021 due to pandemic-spurred pay cuts. Rupert still took home a compensation package valued at $31.1 million, with Lachlan Murdoch seeing a package valued at $27.7 million. Those are down from $34 million and $29.1 million the year prior, and significantly lower than fiscal 2019, when each man took home more than $42 million as they sold Fox's entertainment assets to The Walt Disney Co. The Murdochs, along with other top Fox executives, agreed to cut their base salaries during the pandemic. The company says the action "reduced their aggregate total target compensation by 9%." Meanwhile Fox Corp. COO John Nallen saw his pay fall to $12.4 million, while chief legal and policy officer Viet Dinh saw his compensation package rise slightly, also to $12.4 million. Fox's fiscal year is July 1, 2020 to June 30, 2021.