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, 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
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