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WA Billionaire's 'Secret' Daughter Has $25m Payout Slashed

An appeal against a $25 million payout to the ‘secret’ daughter of the late Perth mining billionaire Michael Wright has resulted in the award being slashed to $6.1 million.

In February 2015, Olivia Mead, then 19-year-old, contested her late father’s will, which would have bequeathed her $3 million when she turned 30.

She was then awarded $25 million from the “colossal” estate after Master Craig Sanderson ruled not enough provision had been made for Ms Mead.

On Wednesday, however, the judges upheld the appeal and unanimously set aside the $25 million, instead awarding $6.14 million.

During the appeal, the estate took aim at the now 22-year-old's extravagant wishlist, which was submitted to estimate her future needs, including a $2.5 million home, a $1.6 million piano and a diamond-encrusted bass guitar.

She also sought an Audi, money for the upkeep of four children she plans to have - each two years apart - and thousands of dollars a year to care for four pets including an axolotl or "Mexican walking fish".

Jane Needham, representing estate executor David Lemon, cited Ms Mead's call for 20 pairs of $300 shoes every year for the next 75 years and Pilates lessons until she was aged 97, which Justice Michael Buss labelled "just silly", saying what might be needed was a reasonable house and income.

The judges said the original will did not make adequate provision for Ms Mead’s proper maintenance and support, but said the decision to award her $25 million was flawed.

Ms Mead's lawyer Lindsay Ellison argued the court could take everything into account when assessing what a daughter from a wealthy family might need for the rest of her life, saying the $25 million award was large but "minimal compared to the size of the estate".

There were also no competing claimants, he said, and the court could "go that extra bit further, and add some cheese and jam" rather than just the essentials of life.

Ms Mead's older half-sisters, Leonie Baldock and Alexandra Burt, were left most of their father's estate - about $400 million each.

Ms Mead was not present in court when the judgment was handed down.

AAP with Fairfax 

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