News - Latest - Entertainment
   Web        OGpaper portal          

Barron Hilton cuts Paris and Nicky short

The grandfather of Paris and Nicky Hilton, Barron Hilton, is leaving the two at the poor-house doorsteps.

Barron Hilton cuts Paris and Nicky short Barron Hilton, the former owner of the Hilton hotels chain and grandfather to socialites Paris and Nicky, is cutting the two, along with the rest of the Hilton family, short of billions of dollars. According to reports, Barron Hilton is unhappy with Paris' lifestyle and will give 97% of his $2.3 billion fortune to the "Conrad N. Hilton Foundation", named after his father and founder of the Hilton hotels. Barron got the big number from the recent $20 billion sale of Hilton Hotels to The Blackstone Group and he will give $1.2 billion immediately to the charity, which will include the proceeds from the pending sale of one of the biggest casino groups, Harrah's Entertainment Inc., and the rest of the money will be donated after his death. The Conrad N. Hilton foundation supports projects that provide clean water in Africa, education for blind children and housing for the mentally ill.

 Although according to Forbes magazine Paris earned over $7 million last year from her TV show, perfume, appearances etc., losing a piece of $2.3 billion pie must be painful for the entire Hilton family.

 Published on 12/27/2007

Related News:

 Giants fans selling tickets to the Pats for the Saturday NFL game
 Ron Paul: Messing up everyone's politics




Copyright 2005 © . All rights reserved.