Paris Hilton will not benefit from the multibillion
dollar fortune of her grandfather. The hotel magnate will donate most of his
$2.3 billion to the foundation set by his father, Conrad Hilton.
Steven Hilton, chief executive of the Conrad H.
Hilton Foundation, said in a statement: “Working to alleviate human suffering
around the globe, regardless of race, religion, or geography, is the mandate of
the foundation set by my grandfather, Conrad Hilton, and now reinforced by my
father, Barron Hilton.”
This is not the first time this has happened in the
Hilton family. Conrad Hilton, who established the hotel chain in 1919 and the
Conrad H. Hilton Foundation in 1944, also decided to donate his money to
charity after his death, which led to a 10-year legally dispute of his son
Barron Hilton, until the court decided to return the money and the stocks back
to the Hilton family fortune.
Barron Hilton’s decision follows the selling of the
Hilton chain, with over 2,800 hotels, to Blackstone Group LP for approximately
$20 billion. At the same time, after the largest hotel transaction this year,
Apollo Management LP and TPG Inc are said to pay $17.1 billion for the Harrah’s
Entertainment, which will be the largest casino deal to close next year.
This comes as no surprise for anyone, as Paris
Hilton proved to be more than just a Hilton heiress. The image she created
could have been nothing but embarrassing for her grandfather, whose decision seems
appropriate in this situation.
However, although mostly known for the sex tapes,
love life scandals, excessive partying and the time spent in jail, Paris
managed to create a small fortune of her own if we take into account her
expanding business empire, which includes a jewelry range, a bag line and a shoe
collection.
Paris did not wish to comment on her grandfather’s
announcement, as she is currently caught in the making of her next film, “The
Hottie and the Nottie”, which automatically canceled her announced trip to the
poorest parts of Africa (after she was released from jail), but who is keeping count?
