PDA

View Full Version : Barron Hilton announced yesterday that he's leaving 97% of his wealth to charity



Eugenious
December 27th, 2007, 09:02 AM
How will Paris Hilton survive? BY TRACY CONNORDAILY NEWS STAFF WRITER Thursday, December 27th 2007, 4:00 AM Schreiber/AP Paris HiltonTime to tighten the belt, Paris.Hotel magnate Barron Hilton announced yesterday that he's leaving 97% of his wealth to charity, dramatically cutting the fortune his children and grandkids will get. That means granddaughter Paris Hilton, who once stood to inherit $100 million or more by some accounts, could end up with a measly $5 million or so. "The whole family will be devastated, particularly [Paris' mom] Kathy," a pal of the clan told the Daily News last night. "Some of them could be likely to contest the will - it'll be in the courts longer than Anna Nicole Smith versus J. Howard Marshall." Barron Hilton is worth an estimated $2.3 billion, including the $1.2 billion he made from the sale of the Hilton Hotels and Harrah's casino chains. All but 3% of the money will go into a charitable trust to benefit the Conrad N. Hilton Foundation, which was started by his father, the foundation announced yesterday. The foundation funds clean water in Africa, education for blind children and housing for the mentally ill. It doesn't buy jeweled collars for Chihuahuas named Tinkerbell. Paris - who makes millions a year from her celebrity appearances and endorsements - had no immediate comment on her grandfather's bequest. There have been conflicting reports about the socialite's relationship with the 80-year-old. Author Jerry Oppenheimer has said Barron Hilton is so embarrassed by Paris' antics - from her sex tape to her drunken-driving bust - that he cut her out of his will. But other sources have reported that the businessman was so impressed by her money-making abilities that he forked over a big chunk of her inheritance last year. Although Barron Hilton's plans for his fortune are big-hearted, he wasn't always so charitable. After his father, Conrad Hilton, died in 1979 and left most of his money to the foundation, Barron sued to get his hands on half the bounty.

Alonzo-ny
December 27th, 2007, 02:12 PM
How can you sue to get money that isnt yours, when the person clearly states he doesnt want to give it to you?

Ninjahedge
December 27th, 2007, 05:11 PM
He was crazy, don't you know?

And, although Paris probably does not LIKE this, I do not see her suffering from it. She has enough of her own to live on.

MidtownGuy
December 27th, 2007, 05:20 PM
Great news. Every billionaire should be forced to leave 97% to charity instead of perpetuating monstrosities like Paris.
She'll blow through 5 million in 2 years. Hope that movie career takes off.:rolleyes:

Alonzo-ny
December 27th, 2007, 05:26 PM
Going to 'prison' wasnt enough of a lesson in humility, pity she cant be completely broke, and its also a pity there are countless others like her all over.

Ninjahedge
December 28th, 2007, 09:48 AM
They did (another) story on the news about her last night.

She has earned millions off her wares, still has millions coming in, and gets paid loads of money just to show up and say "Uh, Hi?". So do not worry about her.

As for Granddad, I think it is great. I would rather have that money go to charity than to the government in inheritance taxes.

I also wonder if there might be more to it than just giving in the name of Charity......

ZippyTheChimp
December 28th, 2007, 11:03 AM
His father, Conrad, did the same thing in 1979, leaving almost nothing to Barron and his half-sister Francesca. The Conrad Hilton Foundation was established as a result.
There is a natural law that obliges you and me to relieve the suffering, the distressed and the destitute.Conrad Hilton


Barron contested the will and won an award in 1988, his claim based on his lifelong career in the Hilton Hotel business. Francesca got nothing.

Barron had eight children, so look for a lot of Hiltons scrambling around to get involved in the family business.

Stay tuned for The Rich Behaving Badly

deezee
December 29th, 2007, 12:26 PM
there was something on Cnn about paris getting $100,000 a night to just show up at parties. so no one will be crying for her slightly depleted pockets except for the girls who actually care what that twat...er..twit is doing.

francesca hilton is the daughter of zsa zsa gabor and she'd get whatever her mom doesn't leave to that scum of a current husband of hers...you know the one who claimed to have been the father of anna nicole's baby for a short second of infamy. all in all who can blame baron from wanting to distance himself from this group of idle rich, all of who haven't known an honest days work in their collective useless lives.

Encideyamind
December 29th, 2007, 03:16 PM
Admirable.

eddhead
December 30th, 2007, 08:26 PM
Accordng to this article, her current net worth is about $7MM. I would also point out that 3% of $ 2.3bn is about $70MM. Still a nice piece of change.

http://www.knowyournetworth.com/paris_hilton_net_worth.html