Shane Warne's three children are reaping the benefit of their dad's investment nous and entrepreneurial flair.

From flipping houses to product endorsements, Warne spun his stellar cricketing talent and massive personality into a hugely successful business career after his retirement from the sport in 2007.

Warne's final will, drafted just three months before his tragic death last March, reveals the blonde haired larrikin had amassed an extraordinary $20.7 million fortune.

His children, Brooke, 25, Jackson, 24, Summer, 21, will each inherit just under a third of their father's assets - or about $6.41m each.

The newly-minted siblings may choose to sit on their famous dad's bequest.

But if they have inherited their dad's business acumen, they could turn his financial legacy into their own fortunes.

Almost a year after Warne's sudden death from a heart attack, aged 52, in Thailand, his will has only just settled.

With 93 per cent of his $20,711,013.27 assets going to his three children, that leaves seven per cent to be distributed among his brother Jason (two per cent) and two and a half per cent each to his brother's children, Sebastian and Tyla.

His ex-wife Simone Callahan, who he was married to for 15 years, is not listed in the will, nor is his ex-fiancé, actor Liz Hurley.

Warne requested his prized $375,500 vehicle collection - including a BMW, Mercedes Benz and a Yamaha motorbike - to be left to his  son and 'best mate' Jackson.

Warne's estate included $5m in his Australian bank account, $514,000 in an overseas account, a $6.5million seaside Melbourne home, close to $3m in shares, and $2m in personal belongings including a jet ski. 

Although his business ventures weren't always successful - the company managing his underwear line Spinners went bankrupt in 2011 - Warne was always full of ideas and never afraid to have a go.

In 2019, he founded a gin distillery named 708 Gin, produced in Western Australia. One of his tipples won the gold medal at the Australian Gin Awards that year.

In early 2020 when the Covid-19 pandemic hit, Warne announced it would also produce alcohol-based hand sanitiser to help relieve critical shortage of the product.

In August 2020, Warne launched a fragrance called SW23, a mix of his initials and the number he wore playing cricket for Australia.

He bought, renovated and sold at least five homes in trendy Brighton, Melbourne - in one case buying and selling a mansion twice between 2001 and 2018 and earning $18.8m.

Another property he bought for $3.7m in 2007 and sold for $6.7m two years later, while he made a similar profit on a $7.5m property which he sold for $10.8m four years later.  

The will shwed Warned had $295,000 in liabilities, including credit card and household bills. 

Warne was renowned for his high-spending lifestyle and expensive tastes, including a fleet of luxury cars which he often showed off on social media. 

$6.5 million seaside home in Portsea, Melbourne

$1.2 million property deposit

$5 million in Australian bank accounts 

$261,000 in Australian shares

$2.85 million in foreign-held shares 

$514,000 in overseas bank accounts 

$350,000 Mercedes Benz

$2.6 million worth of personal belongings 

$12,000 jet ski  

But the fundamentals of the inheritance bequeathed to his children is evidence of his financial savviness and post cricketing career success. 

Warne had created successful business ventures, earned lucrative product endorsements, acquired an impressive property portfolio and had multiple commentating commitments.

The spin bowling king's most lucrative venture 'retirement' job may have been joining the Indian Premier League team the Rajasthan Royals in 2008 and departing with a stake in the franchise which was on its way to being worth $400 million.  

After flipping his outrageous talent as a cricketing superstar turned commentator, business entrepreneur and professional poker player, Warne had managed to use his status as an international sports hero to amass a fortune.  

Before his death, Warne had submitted plans to build a $5m resort-style retreat on a block he bought for $3.6m in Portsea on Melbourne's outskirts, which is now listed in his will asbeing worth $6.5m. 

Warne also has an apartment in the $540 million dollar Saint Moritz complex in St Kilda, which he is said to have purchased in 2018 for $5.4million.

Warne's three children inherit their father's wealth at a tricky time in Australia's ordinarily booming property market, when the Reserve Bank's interest rate hikes are not yet over and prices are predicted to further to fall.

Investment expert Jessica Amir, from Saxo Markets,  said it was not the time for the Warnes - or any young person - to 'throw all their eggs in one basket' with property. 

A single $6m house, which could swallow up each of the cricketer's children's inheritance, is under the median house price in only six Sydney suburbs, although Melbourne is much more affordable.

Amir recommended investing in shares 'to get more bang for your buck', and while investing in some of world's biggest companies - Apple, Facebook and Alphabet (Google search engine) - is a simple way  to get in, technology stocks in general are not a good buy, coming off a 10-year high. 

'Diversification is the really important, and so you can invest in a basket of stocks in an area via an Exchange Traded Fund (ETF), which are gaining popularity,' she said.

Amir named nine booming areas in which young people could buy shares or invest in ETFs which themselves invest in a multiple different companies in the same areas, such as resources, mining ,metals, green transformation, food, fertilisers, energy, and defence/cyber security. 

She said investment in shares by people under the age of 30 had been 'completely unprecedented' during the Covid pandemic, but because many had their fingers burnt, Crypto currency and the tech stock downturn 'stimulus has died'.

Amir's recommended share market investments: BHP, Rio Tinto, Copper lithium or aluminium cmpanies (the elements used in Electric Vehicles), ASX 200 companies or ETFs in those, resources ETFs like Betahsares or SPDR, poultry meat and dairy producers, fertiliser company shares ('quite bullish'), energy sector ETFs and luxury companies like Louis Vuitton and Hermes.

Of the latter, Amir joked that rather than spending $10,000 on a LV handbag, investing in the company - which had rising shares due to the boom of China's middle class and its emergence from Covid - was a smarter option.