UK- A STUDENT at a Scots university is to inherit her grandad’s £650million porn and property empire.

Fawn James, the granddaughter of sex industry tycoon Paul Raymond is being groomed to take over his business empire following his death this month.

The 22-year-old, who is studying for a master’s degree in social anthropology at St Andrews University, has already been made a director of five of Raymond’s key companies.

Along with 16-year-old half-sister India, who is studying for her A-levels, Fawn is widely expected to be named as the major beneficiary of his fortune.

It will make her one of the UK’s richest women.

During term time, Fawn, who has a steady partner, lives with three other students in a modest house in the centre of St Andrews.

A friend who socialises with her around the Fife town said the money would not go to her head.

She added: “She’s certainly ambitious enough, she’s not just some dumb blonde.

“It was ages before I found outs he even had any connection with Paul Raymond.

“She doesn’t exactly go round shouting about it, although everybody knew she had money.”

Fawn, who is also described as ambitious and astute, lives near Surrey with her dad Duncan Mackay, the former keyboard player with rock band 10cc.

In 1992, her 36-year-old mother, Debbie Raymond, who had already taken over parts of her dad’s empire, died from a drink and drugs overdose.

The tragedy deeply affected Raymond and the heartbroken tycoon became reclusive, rarely leaving his home in London. He never publicly disclosed who would inherit his wealth.

But it is widely known he favoured India – whose dad was Debbie’s husband John James, who runs the property arm of the Raymond empire – and Fawn.

At his Roman Catholic service at a south London crematorium two weeks ago, India and Fawn were very much the centre of attention and left their grandad a floral tribute which said simply: “Adored and loved.”