80s business tycoon Alan Bond has paid a billion dollars for a small patch of Heaven that Kerry Packer first bought for $80 five years ago.

Mr Bond, who was desperate to make his mark in the afterlife, said Packer was not willing to budge from his initial price of $1 billion. “So I made a few phone calls and managed to put together enough for the asking price. It’s a stunning little plot of land,” Mr Bond said.

Before the purchase, the land was independently valued at $180.

Mr Packer said he was pleased with the transaction. “You only get one Alan Bond per afterlife, and I’ve had mine”.