Rupert Murdoch Sells California Ranch for $17.8 Million (Report)
Elisabeth, Lachlan and James spent their summers at the Carmel Valley home, which Murdoch bought with his second wife, Anna.
LONDON – Rupert Murdoch’s has sold his sprawling cattle ranch in Carmel Valley, Calif., according to the The Daily Telegraph.
Murdoch and wife Wendi Deng picked up a cool $17.8 million for the ranch.
“I understand that Wendi didn’t see it in her future portfolio,” a family insider told the newspaper.
Murdoch, News Corp and its publishing subsidiary are all under intense scrutiny as the fallout from the phone-hacking scandal and the subsequent closure of The News Of The World last month rages on.
As Murdoch and son James appeared before a Parliamentary committee, Deng grabbed her own flurry of headlines after leaping to her husband’s defense after a foam pie was shoved at him, earning her the moniker “Tiger Wife.”
The sale of the ranch, which Murdoch is understood to have bought with his second wife, Anna, a Scottish-born journalist, in the early Nineties, will sadden their three children, the Telegraph reports, because it is where Elisabeth, Lachlan and James spent their summer holidays, the story explains.
“I come here because my family and I love it,” Murdoch said in 2006. “I feel completely relaxed here. It’s where we gather as a family. I use the ranch as a retreat to entertain my executive and senior team members. People appreciate that you entertain them in your home. You’ve still got to treat people right at the office, but they do appreciate coming here.”
In 2009 Rupert and Wendi put Rosehearty, their seaside home in upstate New York, on the market for $12.8 million (£8.2 million).