Books of Interest
Website: chetyarbrough.blog
Bonfire of the Murdochs (How the Epic Fight to Control the Last Great Media Dynasty Broke a Family)
Author: Gabriel Sherman
Narration by: Cassandra Medcalf
Gabriel Sherman (Author, American journalist, screenwriter for The Apprentice, and biographer of Roger Ailes.)
The positive face of capitalism offers economic and political freedom to pursue economic well-being through personal effort. There is also a negative face. “Bonfire of the Murdochs” seems to show that face.
Gabriel Sherman explains how Rupert Murdoch and his family are scarred by capitalism which makes them immensely rich but morally bankrupt.
Keith Rupert Murdoch (Australian American business mogul.)
The patriarch of the Murdoch family is Rupert whose family founded two media conglomerates, i.e., News Corp and Fox Corporation. News Corp combines The Wall Street Journal, The Times, and The Australian newspapers. Fox Corporation is made of Fox News, Fox Sports, and Fox TV network. Rupert is the principal creator of these conglomerates, but his children were integral parts of the management and administration of their success.
Rupert Murdoch married five times and had 6 children. He was married for 11 years to Patricia Booker. Their only child was Prudence, born in 1958. Murdoch married his second wife Anna de Peyster in 1967 (the same year of his divorce from Patricia). His second marriage results in the birth of Elisabeth, Lachlan, and James. Anna de Peyster and Rupert Murdoch were married for over 30 years. His third wife, Wendi Deng added two more children for a total of six from his first three wives. His last two marriages were to Jerry Hall and his present wife, Elena Zhukova. The story of Rupert Murdoch’s treatment of his six children is the core of the harm that may come from capitalism’s singular focus on wealth.
Rupert remains alive at 94 years of age. Lachlan Murdoch, took over Fox and News Corp in 2023 with Prudence, Elisabeth, and James taking over one billion dollars each to withdraw from Murdoch holdings without voting rights in its operations. Lachlan becomes the sole manager of the remaining media conglomerate. The author explains how Lachlan is the chosen heir apparent. Lachlan’s conservative views and willingness to distort news’ objectivity are purported reasons for Rupert’s choice of Lachlan as his heir. James and his siblings are characterized as critics of the political leanings and news distortions of Rupert’s empire. All but Lachlan leave the news combine with a billion-plus dollar buyout with no voting shares in the future of Rupert Murdoch’s holdings.
Sherman’s inference is that Lachian is the best choice to continue Rupert Murdoch’ version of capitalism.
Whether one believes Rupert Murdoch’s children are politically different from their father or not is a question one may have in listening to Sherman’s book. It appears the first four Rupert children have a desire for wealth more than capitalist probity. Murdoch and his oldest children seem primarily motivated by individual power, and the socio/political benefit of wealth. The four children, at least those before Grace and Chloe, appear to sacrifice capitalism’s ideals for wealth. Wealth is a lure offered by capitalism for good or ill as members of a capitalist society.
One may come away from “Bonfire of the Murdochs” with a bad opinion of Rupert Murdoch and his children but to the non-judgmental, the book only shows a side of capitalism that has made America Great for Americans like Trump and societally flawed for the poor. Capitalism, communism, and socialism are flawed in different ways. Most Americans believe Capitalism is the best of the three. “Bonfire of the Murdochs” reveals the flaws of capitalism.
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