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Peltz was born in Westchester County, New York, the daughter of Claudia, a former model, and billionaire businessman Nelson Peltz, who once owned the Snapple brand. She has four older brothers, two younger brothers, and a sister. Her father has been described by the New York Times as a "compassionate leader" of the New York Jewish community. When Peltz was younger, she attended Rye Country Day School in Rye, New York and from there went to Windward School in White Plains, New York. Her most recent school is the Professional Children's School in Manhattan, New York.