Paris Hilton loses out on Hilton fortunes

Danny Tse
Danny Tse Posts: 5,206
edited December 2007 in The Clubhouse
LOS ANGELES, Dec 26, 2007 (BUSINESS WIRE) -- The Conrad N. Hilton Foundation has announced that its Chairman, Barron Hilton, is building on the philanthropic legacy of his father by contributing approximately $1.2 billion of proceeds from the sale of Hilton Hotels Corporation and the pending sale of Harrah's Entertainment into a charitable remainder unitrust that will eventually benefit the foundation. This brings the total value of the Hilton Foundation and its related charitable entities to approximately $4.5 billion.

Barron Hilton also indicated at a recent meeting of the Conrad N. Hilton Foundation board of directors that it is his intent to further follow in his father's footsteps by contributing 97% of his entire net worth, estimated today at $2.3 billion, including the created trusts, at whatever value it is at the time of his passing.

Barron Hilton gives billions to charity
Jerry Oppenheimer, who profiled the Hilton family in his 2006 book "House of Hilton," has said Barron Hilton is embarrassed by the behavior of his socialite granddaughter Paris and believes it has sullied the family name.

Paris loses out: Hilton fortune pledged to charity
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