The split of family fortune between James Packer and his elder sister Gretel Packer has helped the latter to rake in more money. Gretel will now receive numerous payments from James along with a small share in Consolidated Press Holdings (CPH). The newly-signed deal has left heaps of money for Gretel and she has even received a large advance upfront payment. On the other hand, James has incurred a loss of nearly $5.1 billion with this deal. However, he will still retain the seventh position on the 2015 Business Review Weekly (BRW) Rich 200 List.

The split of assets between the siblings has been done nearly a decade after their father, legendary media mogul Kerry Packer's death. The deal signed between the Packer siblings is reportedly worth more than $1 billion, according to The Sydney Morning Herald (SMH).

The Packers have lived up to the reputation of their surname and have kept their family legacy alive. Gretel has strongly supported the philanthropic interests of the Packer family and the arts as well, whereas, her younger brother James has successfully handled the family business.

Gretel, 49, has always maintained a low key status despite belonging to a wealthy business family. She is the chairwoman of the Crown Resorts Foundation and helms the Sydney Theatre Company Foundation. She is a supporter of the Taronga Zoo Foundation and a trustee of the Art Gallery of NSW. Gretel also played a significant role in starting the $200 million charitable fund for arts that was set up in 2014.

“The arts can bring forth wonderful experiences that you don’t get elsewhere. I love performing art, I love music, I love visual art. I have a busy life so it’s not every day, but I see it when I can,” she told the Herald Sun at the launch of the philanthropic fund.

Despite the end of her second marriage to spiritual guru Shane Murray, Gretel has successfully risen above all odds and has managed to successfully look after her daughter Francesca Packer. Gretel's brother James also had two failed marriages to Australian models Jodhi Meares and Erica Baxter. He is currently dating singer Mariah Carey.

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