Australian art dealer Paul-Charles “PC” Valmorbida has been at the centre of two sharply contrasting stories.
The wealthy heir attracted fresh attention this week after making his relationship with 27-year-old American influencer Olivia Jade Giannulli public.
PC, 39, comes from one of Melbourne’s best-known business families. He has been linked to Giannulli, the daughter of Hollywood actress Lori Loughlin and fashion designer Mossimo Giannulli, after her highly publicised on-and-off relationship with Australian actor Jacob Elordi.
As interest in the new romance has grown, legal proceedings involving PC’s father, Paul Valmorbida, and the estate of his late mother, Elsie, have also placed the family’s private affairs under scrutiny.
In September, reports emerged that Paul had begun proceedings in the Supreme Court of Victoria to seek the appointment of an independent administrator. The proposed administrator would oversee Elsie’s estate and examine transactions involving her assets before her death in July 2025.
The application calls for his siblings, John and Luisa Valmorbida, to be replaced as executors. The pair have reportedly consented to an independent administrator being appointed.
Australian art trader Paul-Charles ‘PC’ Valmorbida’s (left) family is battling over his late grandmother’s estate amid his new romance with influencer Olivia Jade (right)
Paul has offered to pay the costs associated with the proposed appointment.
Elsie, who died at the age of 97, was the matriarch of the Valmorbida family. Its business interests have included Italian food imports and distribution, coffee and media.
Her estate is reportedly made up of a South Yarra apartment valued at about $5 million, as well as debts estimated at approximately $5 million.
Under the reported terms of Elsie’s will, shares in certain family companies were left to John and Luisa. Other assets were to be divided among her children and grandchildren.
PC is one of Elsie’s grandchildren, though the value of any individual inheritance has not been publicly disclosed.
It remains uncertain whether the court proceedings will alter the assets ultimately received by beneficiaries, or how long the estate administration process will take.
The legal dispute has renewed focus on the family behind familiar brands including Sirena tuna, La Gina tomatoes and Lavazza coffee, which the Valmorbida family brought to the Australian market in the 1950s.
Beyond the family’s commercial interests, PC has established his own career in the international art world.
In September, it was reported that PC’s father Paul (pictured) launched proceedings in the Supreme Court of Victoria seeking to have an independent administrator appointed to oversee his mother’s estate and review transactions involving her assets before her death in July 2025
Away from the family business, PC has carved out a career in the international art world
He has also long circulated in fashion and entertainment circles, having previously been linked to Mary-Kate Olsen (right)
The Melbourne-born entrepreneur previously co-founded Prism Gallery in Los Angeles, where exhibitions drew artists, collectors and a high-profile celebrity clientele.
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He has also moved for years in fashion and entertainment circles, having previously been linked to Mary-Kate Olsen.
The pair were photographed together in New York in June 2024, amid speculation about their relationship.
He also reportedly dated Keith Richards’ daughter Theodora Richards.
Now, PC is dating Olivia Jade, 27, whose romantic history has included an on-off relationship with Euphoria star Elordi and American tennis star Taylor Fritz.
The couple debuted their romance on Sunday as they stepped out arm-in-arm in New York City, with Olivia turning heads in tiny shorts and an oversized camel jacket.
PC and Olivia have more in common than their high-profile social circles, with both coming from families that have been caught up in major scandals in recent years.
PC’s older brother, Andy Valmorbida, made international headlines in 2021 after admitting to a multimillion-dollar art fraud in the United States.
He also reportedly dated Keith Richards’ daughter Theodora Richards (right)
PC’s older brother, Andy Valmorbida (left), made international headlines in 2021 after admitting to a multimillion-dollar art fraud in the United States
Olivia (left), meanwhile, was thrust into the spotlight in 2019 when her parents, Full House actress Lori Loughlin (right) and fashion designer Mossimo Giannulli, were caught up in the infamous US college admissions scandal.
The Melbourne-born art dealer admitted to forging documents to obtain loans against paintings he did not own, including works attributed to Francis Bacon and Jean-Michel Basquiat.
Court findings detailed how Andy used forged paperwork to make it appear he owned the artworks, securing more than $US10 million in personal loans from major art trading houses, including Sotheby’s.
Olivia, meanwhile, was thrust into the spotlight in 2019 when her parents, Full House actress Lori Loughlin and fashion designer Mossimo Giannulli, were caught up in the infamous US college admissions scandal.
The couple were among dozens of wealthy parents accused of paying to secure their children’s admission to elite American universities through fraudulent means.
Loughlin and Giannulli ultimately pleaded guilty to conspiracy charges after paying US$500,000 to have their daughters, Olivia and Isabella, falsely presented as rowing recruits to secure places at the University of Southern California.
Loughlin was sentenced to two months in prison, while Giannulli received a five-month sentence. Both were also ordered to pay fines and complete community service.
At the time, Olivia was a popular YouTube personality and beauty influencer, and faced intense backlash over the scandal, including the resurfacing of a video in which she said she was more interested in the social side of college than attending classes.
She later addressed the controversy in a 2020 interview on Red Table Talk, acknowledging her family’s privilege and saying: ‘We messed up.’