Inside bitter estate battles over stars’ property fortunes

Having tens of millions of dollars in bricks and mortar does not stop family wars when the front door closes for the last time. Sprawling ranches and private islands frequently become bitter battlegrounds when Hollywood icons die. Here is what happened to the famous fortunes and the real estate at the centre of the storm. Kerry Packer Estimated net worth at death: About $A6.5bn When Australia’s media tycoon died on Boxing Day in 2005, Kerry Packer’s empire was split by mutual accord initially between his son James and daughter Gretel. But differences in investment strategies and estate allocations sparked a quiet, multi-year division of the vast Packer family assets. By 2015, James and Gretel reached a landmark confidential settlement to dismantle Consolidated Press Holdings and separate their inheritances. James retained ownership of the 30,000ha Ellerston pastoral and polo retreat, while Gretel took independent financial settlements and prime family assets. The family compound in Sydney’s Bellevue Hill remained a bedrock of Packer residential holdings before subsequent generational reorganisations. James (left) and Kerry Packer (right). Gretel took independent financial settlemen...