Rupert Murdoch plans to divide wealth equally between children

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Rupert Murdoch plans to divide wealth equally between children

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MUMBAI: Media tycoon Rupert Murdoch has said that he plans to divide his wealth equally among his six children. In an interviw on US broadcaster CBS' Charlie Rose Show he added that if he died tomorrow, his four elder children would decide who among them would control the family trust's 30% control of the media conglomerate. Murdoch has also said that his two younger children through his third marriage to Wendi Deng will not have a role in the future of News Corp.

This reports indicate settles confusion over who will take over the reins once Murdoch steps down. It was this confusion that led to a fight that saw Lachlan Murdoch quitting the company last year. The four children from Murdoch's first two marriages Prudence, Lachlan, Elizabeth and James will control the family's controlling stake in News Corp once he dies.

"If I go under a bus tomorrow, it will be the four of them will have to decide which of the ones should lead them," he said.