So Lachlan Murdoch now gets to inherit the News Corp conglomerate from dad Rupert Murdoch who is 92.

Rupert's other children will pickup a $Billion each when he dies.

Lachlan lives in a magnificent mansion in a Sydney suburb, Bellevue Hill which towers over lower suburbs like Bondi. He would have extensive views not just of the Harbour but over to the sea and beach as well.

From there he currently runs the empire and is said to be far more conservative than Rupert.

If I take the harbour side road home I often pass his magnificent old yacht. He has on order another super yacht.

What is it with these super yachts that the owners hardly use?

Fellow media billionaire James Packer had a $200M yacht built and sailed it once on the Mediterranean and then put it up for sale and it's still not sold after 2 years.