She is the daughter of Prince Alexander "Stash" Valensky, a wealthy Russian-born polo player and former playboy, and his wife Francesca Vernon, a beautiful and talented American actress.

To get her away from Ram, her father's mistress, Anabel (a mother figure to the girl), sends her to the University of California at Santa Cruz, where she forms what will be a lifelong friendship with Kiki Kavanaugh, an auto industry heiress from Grosse Pointe, Michigan.

Because of Daisy's total estrangement from Ram, who is a trustee of her inheritance, she neglects to read his letters regarding her stock portfolio at a crucial moment and thus loses everything her father left her.

She paints portraits of rich, horse-mad people's children on ponies in order to pay Dani's bills and also works in a demanding job at a production company that makes television commercials.

Up to this point, Daisy has lived out of the public eye, refusing to trade on her title for financial gain, but she ultimately accepts an opportunity to do so, allowing her name to be used for a line of perfume and makeup, and starring in the commercials to promote them, for which she insists upon and is paid $1M.