TVNewser FishbowlDC AgencySpy TVSpy LostRemote PRNewser SocialTimes AllFacebook 10,000 Words GalleyCat UnBeige MediaJobsDaily

Rupert Murdoch Loses More in a Day Than We’ll Make, Well, Ever

rupert murdoch 09.30.08.jpgIt’s been a bad year for media stocks, but it’s been an even worse year for the fat cats who own them. According to a Forbes.com article Rupert Murdoch saw his net wealth plummet $2 billion dollars in 2007, from $8.8 billion to $6.8 billion. (This was before yesterday, when News Corp. stock dropped more than $1 per share.)

Put this into terms we can understand and that’s a loss of $1.5 million an hour. So that’s fun. But Rupe’s not alone.


In total, the 30 CEOs of public corporations on the Forbes 400 lost $215 billion in 2007, of roughly $633.78 per second.

Berkshire Hathaway CEO Warren Buffett saw his wealth fall almost as much as Murdoch’s. Of course, he still has $50 billion in the coffers, which allows him to make gambles such as investing $5 billion Goldman Sachs. It must be nice to be rich.

Mediabistro Course

Content Marketing 101

Content Marketing 101Starting September 8, get hands-on content marketing training in Content Marketing 101! Through a series of webcasts, content and marketing experts will teach you the best practices for creating, distributing and measuring the results of your brand's content, including how to develop a content marketing plan, become a content marketing and more. Register now!