Murdoch suffered serious back injury while lifting a withdrawal of cash

Media mogul Rupert Murdoch suffered a serious back injury while visiting a bank, a source has told reporters.

Murdoch sent an email to senior managers confirming he sustained the injury while lifting physical cash he had withdrawn from the bank teller.

Reports say that he had been hospitalized for the injury which occurred earlier in the year.

Murdoch was intending on using some of the cash to buy himself and his wife, Jerry Hall, a luxury Condo on Cayman Islands so they could get away on weekends.

The 86 year old is expected to make a full recovery but his doctor advised him to carry no more than $250,000 in $50 bills at any one time to reduce his risk of injury.