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Clive Palmer's five-year-old is wildly rich

Thursday, December 12, 2013
Clive Palmer
World's kookiest billionairesBillionaires and their eccentric and outlandish publicity stunts.

Clive Palmer's five-year-old daughter is probably richer than you, your family and your friends. Combined.

She may only be kindergarten-aged, but Mary Palmer has a stash of properties seasoned investors would dream of, with million-dollar homes on the Gold and Sunshine coasts thought to be part of her portfolio.

When her father, billionaire mining magnate and newly elected MP Clive, submitted his Register of Members' Interests to federal parliament yesterday, it was so long it couldn't fit on the provided 11 pages.

The form contained a mind-boggling number of interests both public and private.

While there is little information attached to any of the items on the list, there was one section that briefly touched on the assets owned by five-year-old Mary.

After listing the locations of "houses" held by wife Anna - on the Sunshine Coast, Gold Coast, Brisbane and Bulgaria - Palmer outlines Mary's holdings.

"Mary Palmer owns beneficially some of the above declarations by her Mother, as follows: Sunshine Coast, QLD, Houses, Investment and Gold Coast, QLD, Houses, Investment," it reads.

The portfolio, held in trust by her mother, could include three properties on the Gold Coast that were bought for $2.3 million, $1.5 million and $1.3 million, the Gold Coast Bulletin reports.

Mr Palmer has declared specific share holdings in 94 private and 11 public companies and reveals he holds director positions at 85 companies in Australia and overseas.

Vintage cars, boats and planes make up an enviable list of assets the Queenslander holds.

The mining magnate assured voters after the election he would step away from his business interests and become a fulltime Member of Parliament.

02/10/2014 14:21Sydney, Australia. 2 October,2014
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