Rupert Murdoch Buys the Koch Family’s $200 Million Montana Ranch
Rupert Murdoch and his wife, Jerry Hall.Photo: Axelle/Bauer-Griffin/FilmMagicThe Koch family have sold their $200 million Montana ranch to Rupert and Jerry Murdoch, the Wall Street Journal reports. The 340,000 acre property, which was marketed privately, has been in the Koch family’s possession for more than seven decades and though the final price the Murdochs paid is unknown, it’s reportedly near $200 million, setting a new record for Montana ranch sales.
Known as Beaverhead Ranch, the sale of the property accounts for 113,000 deeded acres and roughly 226,000 leased acres with grazing rights. Wildlife abounds on the land, with around 4,000 elk, 800 antelope, and 1,500 mule deer, along with a 28-mile-long creek that is stocked with trout, according to WSJ. Spanning 50 miles and falling across two counties, the property also holds 25 homes which are largely inhabited by the ranch’s employees. “This is a profound responsibility,” Mr. Murdoch told the Wall Street Journal via a spokesman. “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.”
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Though the Murdoch name is associated most heavily with media and investing, this isn’t the first ranch in the family’s portfolio. They reportedly own an additional ranch in California, and for another slice of nature, they own a 25,000 acre sheep and cattle farm in Rupert Murdoch’s home country of Australia. As for the billionaire sellers, in March of 2021, Koch Industries sold off a much smaller Kansas ranch, and they’ve been selling off their Texas property, Matador Ranch, piece by piece throughout 2021 as well.
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Originally posted on: https://www.architecturaldigest.com/story/rupert-murdoch-buys-the-koch-familys-montana-ranch