News Corp. is covering chairman Rupert Murdoch‘s $50,000 a month penthouse in the Trump Park Avenue building, the Wall Street Journal reports. The company disclosed the benefit in a regulatory filing. Murdoch’s combined salary and bonus last fiscal year was $25.7 million.
The company’s explanation?
“While Mr. Murdoch’s New York home is being renovated, his family is staying at their home in Los Angeles,” a company spokesman said. “Given Mr. Murdoch’s business requirements in New York, the company decided that for its convenience it would pay for an apartment in New York for Mr. Murdoch for the duration of the renovation.” He added that Mr. Murdoch will pay taxes on the benefit.