The final outcome of the Murdoch family's division of property: Wendi Deng won the gods in two moves, and her daughter's best friend's mother assists

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The battle for the successors has been completed, and the battle for the legacy of the Murdoch family that has lasted for several years has finally come to an end. Many friends may be surprised that Mr. Murdoch, who is in his 90s, is still alive, why is the battle for inheritance now? This precisely reflects the complexity of property planning for Western wealthy families. Among European and American giants, it is normal to plan the distribution of estate decades in advance, but once an "irrevocable trust" is established, it is difficult to modify it.

Do you know that media tycoon Murdoch and his former two wives have four adult children, not including the two young daughters he and Wendi Deng. As early as twenty years ago, Murdoch established an irrevocable trust and will, which clearly stipulates that all future inheritances are equally divided by four adult children. This will seemed perfect at the time, but it laid the groundwork for today's dispute.

Murdoch's eldest son Lachren has been in control of News Corp for many years, but his style of conduct is incompatible with his other three younger brothers and sisters. Lachren advocates radical expansion, while his younger brother James and sister Elizabeth tend to operate conservatively, according to people familiar with the matter. This disagreement has become increasingly intense in recent years, so that Murdoch, who is in his 90s, is very worried that once he dies, the other three children will unite to kick the eldest son out. After all, based on shares, those three people account for 75%, and the eldest son only 25%.

To this end, Murdoch submitted an application to amend his will to the New York court last year. However, after half a year of trial, the court finally ruled not to support it. In the judgment, the judge pointed out: "The core value of an irrevocable trust lies in its irrevocability, and it cannot be modified at will just because the founder changes his mind." Therefore, this battle of successors started in advance when Murdoch was alive, becoming a classic case of grievances among wealthy families.

The recent battle has finally come to an end. After consultations, Murdoch's three other adult children - James, Elizabeth and Grace - received $1.1 billion in compensation, totaling $3.3 billion, and then they voluntarily withdrew from the irrevocable trust. The huge compensation is equivalent to about 5% of News Group's market value, and the funds come from Murdoch's personal assets and group special dividends. In this way, the eldest son Lachren can firmly control News Corp. and avoid being excluded by his younger brother and sister in the future.

Why is Wendi Deng's daughter said to be the biggest winner? This starts with the inheritance arrangements of that year. In the original irrevocable trust, Wendi Deng's two daughters - 19-year-old Grace and 17-year-old Chloe - had no share at all. This stems from the agreement signed with Wendi Deng’s ex-wife Anna when she married Murdoch: Wendi Deng is not allowed to have children. But what was unexpected was that Wendi Deng was prepared for a long time and frozen Murdoch's sperm in advance, and later gave birth to two daughters through test tube fertilization technology.

This "curve-saving the country" strategy was ridiculed by many people at the time, believing that even if they gave birth to a daughter, they would not be able to obtain an inheritance even if they were too young. But Wendi Deng's forbearance and Murdoch's longevity changed all this. Murdoch, 92, finally arranged shares for his two young daughters in the latest trust. Although the specific proportion has not been made public, according to people familiar with the matter, the shares obtained by the two daughters are worth about $1.5 billion.

What is even more amazing is Wendi Deng's operating skills. Two years ago, Murdoch remarried at the age of 92 and married 65-year-old molecular biologist Ann Leslie Smith. And this newlywed wife turned out to be the mother of Wendi Deng’s best friend! According to the Wall Street Journal, Wendi Deng not only matched her up, but also specially arranged for the two to meet in her luxury house in New York. This kind of operation of "ex-wife is a mediator for her ex-husband" is unique in the wealthy circle.

Wendi Deng's two daughters also showed extraordinary talent. The eldest daughter, Grace, studied at Yale University and majored in media research; the second daughter, Chloe, made her mark in the art field and held a solo exhibition at the Chelsea Gallery last year. Murdoch once praised his two daughters for "understanding the media industry better than their older brothers and sisters."

The end of this legacy battle marks the entry of a new era for the Murdoch Media Empire. Lachren gained control of the group, his three children received cash compensation, and Wendi Deng's daughters acquired shares for the first time. This win-win situation not only preserves the stability of News Group, but also allows all parties to benefit, showing a rare clever handling of property disputes between wealthy families.

However, this dispute also exposed the deep-seated problems of the Western rich family. As global wealthy people grow older, similar battles for legacy may become increasingly common. How to find a balance between family harmony and wealth inheritance will become a common issue facing all wealthy families.