Fox News mogul Rupert Murdoch has a little more room to spread out, after the purchase of a 340,000-acre ranch in Montana. Murdoch and his wife Jerry Murdoch purchased the spread for about $200 million from its previous owners the Matador Cattle Co., according to a recent report in the Wall Street Journal.
Matador happens to be a subsidiary of Koch Industries, and the (roughly) $200 million sale price makes this purchase the biggest in the history of Montana both in terms of size and amount. The Koch family make natural business associates with the head of Fox News, known as they are for their right-wing political activism going back decades.
The Significance of the Beaverhead Ranch Acquisition
The ranch itself, known as Beaverhead Ranch, sprawls across a corner of southwest Montana over multiple counties, somewhat close to Yellowstone National Park. Through a spokesperson, Murdoch stated that he intends to maintain the land responsibly and respectfully, highlighting his commitment to conservation.
"This is a profound responsibility…We feel privileged to assume ownership of this beautiful land and look forward to continually enhancing both the commercial cattle business and the conservation assets across the ranch."
Beaverhead is acclaimed for its environmental conservation features. According to the ranch's official site, it prides itself on being good stewards of the land, a commitment recognized by various awards over the years.
Award-Winning Conservation Efforts
In 1998, Beaverhead Ranch was honored by the National Cattlemen's Beef Association with its esteemed National Environmental Stewardship Award. This award aims to acknowledge producers who go the extra mile when it comes to preserving and enhancing the resources on their land.
Furthermore, in 2002, Beaverhead became the first ranch in the United States to receive Wildlife at Work certification from the Wildlife Habitat Council. This accolade underscores the ranch’s outstanding natural resource management initiatives.
Personal Use and Future Plans
The purchase wasn't just a business acquisition for the Murdochs; they reportedly intend to spend "some time" on the ranch. In fact, they had been looking to purchase such a property for about a year, indicating a genuine interest in the land.
When they are not in Montana, Rupert and Jerry can lay their heads at a half dozen other incredible properties across the globe. Some notable items in Rupert's property portfolio include:
- Three penthouse units in a New York City building assembled over several transactions for a total of $22 million.
- A townhouse in NYC's Upper East Side that cost $23 million in 2011.
- A 6,850-square-foot quadruplex penthouse in NYC's One Madison Building that he bought in 2013 for $58 million.
- A 16-acre estate in Bel-Air, Los Angeles that was purchased in 2013 for $29 million.
When you include properties in his native Australia and another in London, Rupert Murdoch's real estate portfolio is worth well over $350 million.
Conclusion: The Murdoch Legacy in Real Estate
Rupert Murdoch's acquisition of the Beaverhead Ranch marks a significant milestone both in the history of Montana real estate and in his personal portfolio. The commitment to conservation and responsible land management reflects an evolving approach to property ownership that prioritizes sustainability.
As Murdoch continues to expand his holdings, the implications of his investments on environmental stewardship and local economies will be closely observed. This purchase not only exemplifies his wealth but also his role as a steward of the land, contributing to a legacy that may influence future generations.
