INSIDE THE LIVES OF THE RICHEST HEIRESSES OF OZ

Cash, cars and caviar - oh how the other half live...

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When a loudmouth Texan annoyed billionaire media baron Kerry Packer by boasting about his $100 million fortune at a US casino, the big-betting Aussie simply pulled a coin out of his pocket and offered to flip him for the lot.

The story is the stuff of legend, and while his eldest grandchild Francesca Packer Barham, 28, doesn't appear to have inherited his love of gambling, she loves to spend up a storm.

She once dropped $575,000 on a 17-carat diamond ring, and recently splashed out on a $73,000 diamond, pearl and ruby necklace and bracelet owned by fraudster Melissa Caddick.

While Francesca and her two brothers will eventually share in her mum Gretel Packer's $2.6 billion fortune, she already lives like a billionaire with a $16 million Sydney penthouse and a hot pink $200,000 Range Rover Vogue.

INHERITANCE CALLING

There's nothing shy and retiring about this heiress, who has dated two of her personal trainers and is seeing AFR Young Rich Lister Robert Bates.

But her billion-dollar inheritance is dwarfed by the eye-watering sum of money that Grace Murdoch, 21, and her sister Chloe, 19, will inherit from their dad, media baron Rupert Murdoch, 91, and mum Wendi Deng, 54.

The pair grew up on a diet of private jets, superyachts and palatial estates, and will receive more than $4 billion each when they turn 30 from the Murdoch Family Trust, even if their older half-siblings remain in control of the media empire.