Lachlan Murdoch

Last week, News Corp co-chairman and heir apparent Lachlan Murdoch dropped a cool US$150m (A$217m) on a Los Angeles mansion that, according to a Bloomberg source, once featured on noted anti-poor '60s comedy The Beverly Hillbillies.

Following a good decade or two of mass layoffs, outlet closures and just general media collapse, it’s quite a time to set a new Californian real estate record, even if Lachie managed to knock off at least US$100m from the asking price.

Crikey dives into where else the billionaire media mogul might have invested his cash.