Archive for the ‘heiress’ Category

Paris Hilton’s Potential $2.3 Billion Inheritance to Charity

December 27, 2007

By Michelle Nichols

NEW YORK (Reuters) – Hotel heiress Paris Hilton’s potential inheritance dramatically diminished after her grandfather Barron Hilton announced plans on Wednesday to donate 97 percent of his $2.3 billion fortune to charity.

Paris Hilton (L) and her sister Nicky pose at a promotional ...
Paris Hilton (L) and her sister Nicky pose at a promotional event for Japan’s fashion brand Samantha Thavasa’s handbags and accessories in Tokyo in this November 5, 2007 file photo. The Hilton sisters’ potential inheritance dramatically diminished after their grandfather Barron Hilton announced plans on December 26, 2007 to donate 97 percent of his $2.3 billion fortune to charity.(Kim Kyung-Hoon/Files/Reuters)
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That wealth includes $1.2 billion Barron Hilton stands to earn from both the recent sale of Hilton Hotels Corp. — started by his father Conrad in 1919 when he bought a small hotel in Cisco, Texas — and pending sale of the world’s biggest casino company, Harrah’s Entertainment Inc.

That money will be placed in a charitable trust that will eventually benefit the Conrad N. Hilton Foundation, raising its total value to about $4.5 billion, the foundation said in a statement.

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http://news.yahoo.com/s/nm/20071226/lf_nm_life/hilton_charity_dc;_ylt=
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