His private investment firm, Lupa Systems, which takes its name from the Latin word for a she wolf, has invested in a number of media and technology firms -- from a Norwegian drone company to the Void, which puts virtual-reality experiences in malls.
He also seems keen on pursuing investments that might counter the more conservative agenda of the family’s main media outlets. He’s invested in Betalab, an investment firm trying to “fix the internet,” including addressing what some have called fake news.
James was already wealthy. After dropping out of Harvard University, he founded a hip-hop record label that was bought by his father, bringing him into the corporate fold. He also owns about $15 million of Tesla Inc., where he’s been a board member since 2017, according to data compiled by Bloomberg.
To many, the familial back-and-forth recalls the HBO hit “Succession,” based loosely on the Murdochs. Many fans already debate which character is based on which brother.
In a statement, Rupert and Lachlan Murdoch, who serve as News Corp.’s co-chairmen, said they wished James “the very best in his future endeavors.”
“We’re grateful to James for his many years of service to the company,” they said.
This article was provided by Bloomberg News.