Barron Hilton is donating 97% of his money to charity

  1. I just read this in my yahoo mail, but i thought it was great. He's so disgusted by Paris Hilton's behavior that he's donating most of his fortune (in the billions) to charities that help africa and mentally disabled people.

    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.

    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.
    Barron Hilton, chairman of the foundation, intends "to contribute 97 percent 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," the foundation said.
    Paris Hilton was not immediately available for comment on her grandfather's plans for his fortune.
    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.
    Barron Hilton, who is 80, has not commented on Oppenheimer's remarks.
    The foundation supports projects that provide clean water in Africa, education for blind children, and housing for the mentally ill. Its aims, based on Conrad Hilton's will, are "to relieve the suffering, the distressed and the destitute."
    "Speaking for the family as well as the foundation, we are all exceedingly proud and grateful for this extraordinary commitment," said Steven Hilton, one of Barron's sons and president and chief executive of the foundation.
    Conrad Hilton established the foundation in 1944 and when he died in 1979 left virtually all of his fortune -- including, according to media reports at the time, a 27 percent controlling stake in Hilton Hotels -- to the charity.
    But Barron Hilton challenged the will and after a nearly decade-long legal struggle reached an out-of-court settlement to split ownership of the shares with the foundation in 1988, The New York Times reported.
    The hotel group was sold for $20 billion in October to private equity firm Blackstone Group, while the acquisition of Harrah's -- of which Barron Hilton was a board member until 2006 -- is due to be completed by Apollo Management and TPG Capital in early 2008.
    Paris, a symbol of celebrity privilege in America, gained notoriety in 2003 when a home video of her having sex with a boyfriend was posted on the Internet.
    She parlayed her notoriety, fueled by tabloid headlines about her partying lifestyle, into a celebrity career that has included a reality television show, a book, a music album, and film roles. Then this year she spent more than three weeks in jail for violating probation in a drunk-driving case.
    (Editing by Daniel Trotta and Eric Walsh)
  2. Oh this is the best thing I have heard in a long time !
  3. I can't decide if I'm proud of him, or appalled that he sued the foundation and didn't allow it to have the money it was rightfully bequethed in the first place.
  4. :tup::tup: Wow, something positive from a Hilton!
  5. I was so baffled when I read this statement that I became giddy. Call me cruel, but I'm so glad that Paris is finally getting hers. It's almost funny because the other day I was feeling so down because of the limitations that life sets for us, and my mother reminded me that no matter WHAT kind of rediculous privledges certain people your age are entitled to [namely, Paris], karma will ALWAYS get back to them and they will ALWAYS have theirs. Just when I thought that there was NO justice in this world, it was FINALLY served on a platter, and a silver one at that.

    I'm thrilled that for once in her life Paris won't have her fortune to turn to when she can't take responsibility for her wreckless actions.

    I'm thrilled and proud of her grandfather at his aims to restore the family name for the Hiltons, that has for so long been unfairly tarnished by the likes of socialite partying heiress Paris Hilton.

    Anyone else share my sentiment?
  6. If I remember correctly, Barron Hilton was quite the playboy himself and was really the original "sullier" or the Hilton name, but at the same time he didn't really flaunt the people he was sleeping with (just his wealth.)

    Paris will be OK. She has enough fame to make her own money. Heck, she can just show up at a party for $40K.
  7. I do, I do! :yahoo: Part of me wants to sing, Paris is getting hers, Paris is getting hers! :wlae:

    Though it's, uh, more than a little odd (read: appalling) that he kept the foundation from having the money in the first place, but since they'll be getting more now I suppose things will work out ... so long as no one tells Paris about precedence.
  8. Well, well, well. I needed some good news!

    Has Paris ever started on that half-way house for women she promised? She's been laying a tad low (or at least she's stayed off the sites I read!) for some time. Although I did hear she bought ANOTHER over-bred dog in another country? (Korea if memory serves?)

    Heck, all Paris needs to do is write a book... she's already a millionaire.
  9. Speedy! :smile:

    She's already written a book; my memory's a little rusty at the minute, but I believe her book was titled something along the lines of : The life of a hotel heiress. How original, I know. HeHe
  10. This is hilarious. The reason is because the Hilton great grandfather did the same thing- he left the bulk of his estate to the Catholic church. Then his children (ie. Barron) went to court, disputed the estate and WON.

    Read about it here:

  11. Oh, really? LMAO! No wonder I missed it, I'm sure it didn't make the best sellers lists I read from!

    I can just imagine how it reads.... "I went to New York. That's hot". "I saw a movie about lions. That's hot too".

    Must be veryyyyy short version. :smile:
  12. Is this 100% true? HAS it diminished? Are these 'plans' going to come in effect for sure? Hmm, sounds too good to be true.
  13. Nicky Hilton also got slighted, not just Paris.
  14. I do feel bad about nicky getting slighted though..
  15. These girls wil be just fine. Paris gets $100,000 per night when she does a promotion in Vegas. Nicky has a clothing line.
    I like it when filthy rich people leave their money to charities. I read in the paper today that 1.1 billion is being given immediately.
    How was he ever able to get this money away from the Catholic church? I need to read further into this.