Paris Hilton’s Potential Inheritance Drops Dramatically
Posted December 27, 2007 12:00 pm.
This article is more than 5 years old.
Hotel heiress Paris Hilton stands to inherit far less than she may have thought after her grandfather announced his intention to donate 97 percent of his worth to charity.
The vast majority of Barron Hilton’s $2.3 billion fortune will go to the Conrad N. Hilton Foundation, named for his father. The senior Hilton started Hilton Hotels Corp. in 1919 with a small hotel in Texas, and it’s now one of the world’s top hotel chains. The money will be placed in a charitable trust that will eventually go to the foundation upon Hilton’s passing, raising its value to $4.5 billion.
It’s unclear how much Paris Hilton might inherit now, and so far she hasn’t commented on her grandfather’s plans.
According to writer Jerry Oppenheimer, who wrote about the family in a 2006 book titled House of Hilton, Barron Hilton is embarrassed by his granddaughter’s behaviour and believes it’s tarnished the family name. The now-80-year-old Barron Hilton hasn’t commented on those suggestions.
Barron’s son Steven Hilton, who also serves as president and chief executive of the foundation, said the family is “exceedingly proud and grateful for this extraordinary commitment.”
Among the foundation’s initiatives: providing clean water in Africa, educating blind children, and housing the mentally ill.
Paris Hilton first came to prominence when a video of her having sex with her boyfriend popped up on the Internet in 2003. Since then the ‘celebutante,’ as she was dubbed, has appeared on a reality television show, recorded a music album, and appeared in several films.
She spent three weeks in jail in 2007 for violating probation in an impaired driving case.
