NEW YORK (TheStreet) -- Rupert Murdoch and family are currently the world's 33rd most powerful people, according to Forbes, ahead of Kalifha bin Zayed Al-Nahyan, the United Arab Emirates president, Mexican President Enrique Pena Nieto, Kim Jong-un and Shinzo Abe, the prime minister of Japan.
Murdoch is already the third wealthiest billionaire in the media industry with a fortune of $13.8 billion. He is behind David Thomson, the chairman of Thomson Reuters (TRI - Get Report), with a fortune of $24.1 billion and Anne Cox Chambers of Cox Enterprises with a fortune of $16.2 billion.
Few goals probably remain for a man with that much money. But then again, we're dealing with Rupert Murdoch, whose voracious appetite for all things media stretches back to the 1950s.
Murdoch now has his sights set on Time Warner (TWX - Get Report), having offered to pay $85 a share with investors assuming that Murdoch's 21st Century Fox (FOXA - Get Report) is poised to increase its bid, maybe to more than $100 a share. Time Warner is in play, whether CEO Jeff Bewkes like that or not.If Regulators Care, Here Are the Hurdles to a Fox-Time Warner Deal BSkyB Sells ITV Stake to Liberty Global Captain America Another Arrow in Disney's Marvel Quiver With this deal, Murdoch would become the king of media, if he isn't already. Time Warner is already the fourth most profitable broadcasting and cable company in the world with annual net income of $3.6 billion. If Murdoch buys the entire company he would actually increase his wealth from the current $13.8 billion to $27.6 billion -- assuming the current market value of Fox increases from $74 billion to $148 billion in a decade and assuming he is still alive in 2024 when he will be 93 years young. Keep in mind, The Walt Disney Company (DIS - Get Report) has a market cap of more than $147 billion and Comcast (CMCSA - Get Report) has a market cap of more than $143 billion, which means it's possible to create a broadcasting and cable company with a market value of $148 billion. If anybody can do it, it's Murdoch.