Goldman Sachs hired Rupert Murdoch's daughters as interns for 2024
You have to be pretty special to get an internship at Goldman Sachs: the acceptance rate there is less than 1.5%. If you didn't manage to get an internship for 2024, you can therefore take comfort in the fact that you're not alone, but you might also lament the fact that your father is not a billionaire newspaper mogul.
Goldman Sachs' 2024 intern class will contain Grace and Chloe Murdoch, Rupert Murdoch's two daughters with Wendi Deng. Chloe is joining as a summer analyst in the technology media and telecoms (TMT) investment banking team in New York; Grace is joining as a summer analyst in the consumer retail investment banking team, also in New York.
Goldman Sachs declined to comment on the two incoming interns, who are aged circa 20 and 22. Grace is studying history at Yale; Chloe is studying at Stanford. In an article last year, the South China Morning Post said they have spent much of their time "shuttling between family mansions across Los Angeles, Beverly Hills and Arizona," but that apart from that their lives are also comparatively "normal."
What was it that attracted Goldman Sachs to two 20-something students whose billionaire father is one of the richest men in the world? Stung by China-related nepotism claims ten years ago, most banks now operate rigorous screening processes for students, and Goldman Sachs is no different. Grace and Chloe's allure may also be down to the fact that they speak Mandarin and have respectively completed internships at the Wall Street Journal and a Venture Capital firm, and a blockchain start-up.
Writing on Wall Street Oasis, students are nonetheless peeved at being passed over, although some noted that it makes business sense given that Murdoch paid around $105m in fees to Goldman Sachs when it sold $71bn in assets to Disney five years ago.
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