Mistress of Australian Billionaire Loses in Court

Richard Pratt, an Australian Billionaire, earned his fortune by growing his father’s small cardboard business into one of the largest privately-owned packaging and recycling companies in the world. When Pratt died at age seventy-four in 2009, he left behind a $5.5 billion estate (in Australian dollars).

One of Pratt’s mistresses, Madison Ashton (aka Christine McQueen), sued the estate for millions, claiming she and Pratt had a “business agreement. According to Ashton, Pratt agreed to pay her $50,000 every year if she gave up her lucrative life as an escort to become his full-time mistress. Ashton further claimed that Pratt promised her a $100,000 Mercedes Benz, $66,000 a year for rent and travel expenses, and $5 million in trust for her two children. Pratt’s wife of fifty years and the estate’s legal team claimed Pratt only promised to help Ashton set up an accessories business.

The New South Wales Supreme Court eventually dismissed the case, finding no legally binding agreement. The judge also noted that had a valid claim existed, Ashton would have no right to sue for payment as she had already accepted two settlements.

See Danielle and Andy Mayoras, Estate of Richard Pratt, Australian Billionaire, Defeats Mistress in Court, Jan. 16, 2012.

Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.