James Murdoch spent $100 million to help fund political causes during 2020 election cycle

James Murdoch, one of billionaire media mogul Rupert Murdoch’s sons, quietly invested $100 million in his nonprofit foundation, which then used a large chunk of the money to fund political groups during the 2020 election cycle.

CNBC found the enormous contribution from James Murdoch and his wife, Kathryn Murdoch, after reviewing the 501(c)(3) group’s 990 tax return from 2019, which the foundation provided. The Murdochs launched the foundation, called Quadrivium, in 2014.

The $100 million donation marks the couple’s largest known contribution to their foundation or any political effort. It came as James and Kathryn Murdoch were building their own political operation. They have largely backed nonpartisan and Democratic-leaning causes. Kathryn Murdoch has previously criticized former President Donald Trump for his handling of the coronavirus pandemic.

The Murdoch family, headed by Rupert Murdoch, is worth over $22 billion, according to Forbes. The family controls Fox Corp. and News Corp. James’ brother Lachlan Murdoch is the CEO of Fox, which has multiple assets including the conservative Fox News cable network.

It was previously known that James and Kathryn Murdoch backed President Joe Biden’s 2020 campaign. But it was unknown until now just how much they were spending behind the scenes to impact the election. Combined with the millions they gave to campaigns and political action committees, the $100 million donation demonstrates the couple’s impact on the last election cycle.

The 2019 tax document shows that of the $100 million given to the foundation, over $25 million went toward grants, including for several political causes. The $25 million also represents the most the Murdoch couple has spent through their foundation on political causes, such as fighting climate change and helping people vote.

Yet, according to a person close to the family, that $25 million two years ago was only part of massive Murdoch investments through the 2020 election cycle. This person declined to be named in order to speak freely about the situation.

Since 2019, Quadrivium committed to giving over $43 million to climate-related groups. Over $38 million, including $14 million in Quadrivium donations and $24 million in individual contributions from the couple, went toward election organizations, including those dedicated to protecting voting rights.

The Murdoch couple also donated over $20 million to Biden’s campaign, groups supporting him and opposing Trump, and organizations dedicated to disrupting online threats and extremism. They also donated to groups dedicated to getting out the vote during the Georgia Senate runoff elections in January. Democrats won both of those seats.

A spokeswoman for James and Kathryn Murdoch declined to comment.

According to the 2019 tax document, the Quadrivium foundation had more than $100 million on hand going into 2020, just as the primary and caucus season was beginning.

The Murdochs’ $100 million donation came the same year James was the CEO of 21st Century Fox before Disney bought the bulk of the company for $71 billion. He was also on the board of the family-owned News Corp. at the time.

Article source: https://www.cnbc.com/2021/06/08/james-murdoch-spent-100-million-to-fund-political-causes-during-2020-election.html