Rupert Murdoch’s estranged son could be set to make nearly $7.5 billion from investing in Elon Musk’s SpaceX, according to a report.

​James Murdoch, 53, reportedly pumped an estimated $120 million into his friend’s company in the years leading up to its initial public offering on June 12. ​

The near $7.5 billion estimate was made by PitchBook analyst Franco Granda, whose calculations were obtained by Fortune. The valuation was based on details pertaining to Murdoch’s various holdings, which were found in public records and viewed by the publication. ​

Murdoch bought three tranches of stock in SpaceX, two of which were worth $50 million each, according to details of court case brought by a Tesla shareholder against Musk’s infamous $56 billion compensation package, Fortune reported. ​

The first tranche was purchased in 2019, with Murdoch buying the second a year later. Both were acquired using a private investment firm.

In 2019, Murdoch bought another $20 million as a personal investment, Fortune reported.

​Pitchbook’s estimates suggest that the Murdoch scion’s stakes could now be worth between $6.573 and $7.44 billion. However, he could have sold the shares in the period after which he bought them.​

According to the publication, rumors of the potential windfall have been exchanged by executives in the media industry, although he was not listed in the SpaceX S-1 document attached to the firm’s public offering.

Shares in SpaceX first became available for individuals to buy on the public stock market on June 12. The company achieved the largest initial public offering of all time, and Musk briefly became a trillionaire.​

Murdoch and Musk have enjoyed a well-documented friendship, with the former sitting as an member of Tesla’s board since 2017, according to the company’s website.

Murdoch has been excoriating about his own father, branding him a “misogynist” in an interview with The Atlantic. He also told the publication that he believed that Fox News was a “menace” to democracy in the United States. ​

He went on to claim that his father had tried to hand full control over the family’s empire to Lachlan, the elder Murdoch son. ​

In late 2025, the family announced that three of the Murdoch siblings – including Prudence MacLeod, Elisabeth and James Murdoch – will cease to be beneficiaries of any trust with shares in Fox or News Corp, according to The New York Times. The siblings were set to be named as beneficiaries of a new trust and would receive around $1.1 billion each. ​

In a May press release, Lupa Systems, Murdoch’s media company, confirmed that it had agreed to acquire New York magazine, the Vox Media Podcast Network and Vox itself. ​

“This acquisition aligns well with our existing holdings and investments and reflects both our interest in the forward edge of culture and our deep commitment to ambitious journalism and agenda-setting conversations,” Murdoch said.

In July, Vox Media confirmed that the acquisition had been completed.

The Independent has contacted Lupa Systems for comment.