10/06/1997 at 01:00 AM EDT
TWO WEEKS AGO, ALLEGRA BECK'S chic togs were probably what most distinguished her from the other 11-year-olds at the private day school she attends in' Milan. But with the death of her uncle Gianni Versace, she gained another distinction: His will, naming Allegra as principal heir to his estate, makes her one of the richest children in the world. The daughter of Donatella, Versace's 40-year-old sister and creative muse, and her husband, men's line honcho Paul Beck, Allegra was her uncle's favorite family member—my little princess, he called her. Donatella's 6-year-old son Daniel inherits Versace's substantial art collection, including paintings by Picasso, Leger and Basquiat.
That leaves Allegra with Versace's half-share of the fashion empire, to be managed by her parents and Versace's brother Santo. The other half is owned by Donatella (20 percent) and Santo (30 percent). Counting the designer's spectacular homes in Milan, Lake Como, New York City and Miami Beach (Versace's longtime companion Antonio D'Amico was given the right to stay in them for the rest of his life), Allegra's windfall totals $800 million, according to one Milan newspaper. So far, though, no one has said anything about a bigger allowance.