Lachlan Murdoch"s Kindness Moves James Packer to Tears, 23 Years Ago

James Packer recently shared a poignant memory from 23 years ago that left him in tears. During a difficult period in his life, marked by a significant financial loss of $132 million from a disastrous investment in One.Tel, Packer experienced a personal breakdown. On Lachlan Murdoch's 30th birthday in 2001, Packer attended a celebration where Murdoch publicly acknowledged him, wishing him a happy birthday. This simple act of kindness deeply moved Packer, who felt undeserving of such loyalty during his struggles. Packer reflected on the emotional impact of Murdoch's gesture, emphasizing that true loyalty is tested during tough times. He expressed gratitude for Murdoch's understanding, noting that he never intended for the investment to fail. Their friendship, which has lasted over three decades, has been a source of support for Packer through both highs and lows. Despite the challenges he faced, Packer later sold a 10 percent stake in the REA Group for $10 million, a decision he found surprising given its current valuation of $2.5 billion. He acknowledged his desire to be helpful after the One.Tel debacle, but he never anticipated the significant increase in value of the stake he sold. Packer concluded by advising others not to underestimate Lachlan Murdoch, highlighting the depth of their friendship and the importance of loyalty in times of adversity.